Davidson Investment Advisors Boosts Position in Silicon Laboratories, Inc. (NASDAQ:SLAB)

Davidson Investment Advisors lifted its holdings in shares of Silicon Laboratories, Inc. (NASDAQ:SLAB - Free Report) by 3.4% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 144,502 shares of the semiconductor company's stock after acquiring an additional 4,695 shares during the period. Davidson Investment Advisors owned approximately 0.44% of Silicon Laboratories worth $16,267,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Coldstream Capital Management Inc. boosted its holdings in Silicon Laboratories by 2.8% during the fourth quarter. Coldstream Capital Management Inc. now owns 2,473 shares of the semiconductor company's stock worth $307,000 after purchasing an additional 68 shares during the last quarter. Jones Financial Companies Lllp boosted its holdings in Silicon Laboratories by 44.5% during the fourth quarter. Jones Financial Companies Lllp now owns 224 shares of the semiconductor company's stock worth $28,000 after purchasing an additional 69 shares during the last quarter. Oregon Public Employees Retirement Fund boosted its holdings in Silicon Laboratories by 1.5% during the first quarter. Oregon Public Employees Retirement Fund now owns 6,668 shares of the semiconductor company's stock worth $751,000 after purchasing an additional 100 shares during the last quarter. Arizona State Retirement System boosted its holdings in Silicon Laboratories by 1.8% during the fourth quarter. Arizona State Retirement System now owns 9,360 shares of the semiconductor company's stock worth $1,163,000 after purchasing an additional 167 shares during the last quarter. Finally, UMB Bank n.a. boosted its holdings in Silicon Laboratories by 111.3% during the first quarter. UMB Bank n.a. now owns 336 shares of the semiconductor company's stock worth $38,000 after purchasing an additional 177 shares during the last quarter.

Insider Buying and Selling

In related news, SVP Robert J. Conrad sold 4,029 shares of the company's stock in a transaction on Friday, May 16th. The shares were sold at an average price of $131.20, for a total transaction of $528,604.80. Following the completion of the transaction, the senior vice president owned 25,380 shares in the company, valued at approximately $3,329,856. This represents a 13.70% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Christy Wyatt sold 546 shares of the firm's stock in a transaction dated Tuesday, May 6th. The stock was sold at an average price of $104.45, for a total transaction of $57,029.70. Following the completion of the transaction, the director directly owned 8,492 shares in the company, valued at $886,989.40. This represents a 6.04% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 11,626 shares of company stock worth $1,509,319. 1.60% of the stock is owned by insiders.

Analysts Set New Price Targets

SLAB has been the topic of several analyst reports. Stifel Nicolaus cut their price target on shares of Silicon Laboratories from $145.00 to $120.00 and set a "buy" rating on the stock in a report on Thursday, April 17th. Needham & Company LLC restated a "buy" rating and set a $150.00 price target on shares of Silicon Laboratories in a research note on Wednesday, May 14th. Benchmark restated a "buy" rating and set a $160.00 price target on shares of Silicon Laboratories in a research note on Tuesday, May 27th. Susquehanna upped their price target on shares of Silicon Laboratories from $100.00 to $110.00 and gave the company a "neutral" rating in a research note on Wednesday, May 14th. Finally, Barclays dropped their price target on shares of Silicon Laboratories from $120.00 to $80.00 and set an "equal weight" rating on the stock in a research note on Tuesday, April 22nd. Four research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $126.50.

Silicon Laboratories Stock Performance

Shares of SLAB traded up $5.18 during mid-day trading on Tuesday, hitting $144.93. 248,224 shares of the company traded hands, compared to its average volume of 346,970. The stock has a 50-day moving average price of $130.27 and a two-hundred day moving average price of $126.95. Silicon Laboratories, Inc. has a 1 year low of $82.82 and a 1 year high of $160.00. The stock has a market cap of $4.72 billion, a price-to-earnings ratio of -28.34 and a beta of 1.47.

Silicon Laboratories (NASDAQ:SLAB - Get Free Report) last announced its earnings results on Tuesday, May 13th. The semiconductor company reported ($0.08) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.09) by $0.01. The company had revenue of $177.71 million during the quarter, compared to analyst estimates of $177.48 million. Silicon Laboratories had a negative net margin of 25.16% and a negative return on equity of 8.80%. The firm's quarterly revenue was up 67.0% compared to the same quarter last year. During the same period in the previous year, the business posted ($0.92) earnings per share. On average, analysts forecast that Silicon Laboratories, Inc. will post -0.97 EPS for the current year.

Silicon Laboratories Profile

Silicon Laboratories Inc, a fabless semiconductor company, provides various analog-intensive mixed-signal solutions in the United States, China, Taiwan, and internationally. The company's products include wireless microcontrollers and sensor products. Its products are used in various electronic products in a range of applications for the industrial Internet of Things (IoT), including industrial automation and control, smart buildings, access control, HVAC control, and industrial wearables and power tools; smart cities applications, such as smart metering, smart street lighting, renewable energy, electric vehicle supply equipment, and smart agriculture; commercial IoT applications, including smart lighting, asset tracking, electronic shelf labels, theft protection, and enterprise access points; smart home applications, comprising home automation/security systems, smart speakers, smart lighting, HVAC control, smart cameras, smart appliances, smart home sensing, smart locks, and window/blind controls; and connected health applications, including diabetes management, consumer health and fitness, elderly care, patient monitoring, and activity tracking; as well as in commercial building automation, consumer electronics, and medical instrumentation.