Deutsche Bank AG raised its position in shares of Silicon Laboratories Inc. (NASDAQ:SLAB - Free Report) by 37.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 51,816 shares of the semiconductor company's stock after buying an additional 14,228 shares during the quarter. Deutsche Bank AG owned about 0.16% of Silicon Laboratories worth $6,437,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also added to or reduced their stakes in SLAB. Capital Research Global Investors lifted its position in Silicon Laboratories by 23.3% during the fourth quarter. Capital Research Global Investors now owns 2,131,920 shares of the semiconductor company's stock valued at $264,827,000 after buying an additional 403,010 shares during the period. Norges Bank purchased a new position in Silicon Laboratories during the fourth quarter valued at $34,622,000. Invesco Ltd. raised its position in shares of Silicon Laboratories by 46.9% in the 4th quarter. Invesco Ltd. now owns 595,382 shares of the semiconductor company's stock worth $73,958,000 after purchasing an additional 190,085 shares during the last quarter. Raymond James Financial Inc. purchased a new position in shares of Silicon Laboratories in the 4th quarter worth about $14,252,000. Finally, Alliancebernstein L.P. raised its position in shares of Silicon Laboratories by 58.2% in the 4th quarter. Alliancebernstein L.P. now owns 240,321 shares of the semiconductor company's stock worth $29,853,000 after purchasing an additional 88,438 shares during the last quarter.
Wall Street Analyst Weigh In
Several equities analysts have recently issued reports on SLAB shares. Benchmark reaffirmed a "buy" rating and issued a $160.00 price target on shares of Silicon Laboratories in a research report on Wednesday, May 14th. Susquehanna lifted their price target on Silicon Laboratories from $100.00 to $110.00 and gave the stock a "neutral" rating in a research report on Wednesday, May 14th. Wall Street Zen raised Silicon Laboratories from a "sell" rating to a "hold" rating in a research report on Wednesday, May 14th. Needham & Company LLC reaffirmed a "buy" rating and issued a $150.00 price target on shares of Silicon Laboratories in a research report on Wednesday, May 14th. Finally, Stifel Nicolaus lowered their price target on Silicon Laboratories from $145.00 to $120.00 and set a "buy" rating for the company in a research report on Thursday, April 17th. Four research analysts have rated the stock with a hold rating and five have given a buy rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $126.50.
Check Out Our Latest Stock Analysis on Silicon Laboratories
Silicon Laboratories Trading Down 1.1%
NASDAQ:SLAB traded down $1.32 during mid-day trading on Friday, reaching $121.43. The company's stock had a trading volume of 265,583 shares, compared to its average volume of 337,153. Silicon Laboratories Inc. has a 12-month low of $82.82 and a 12-month high of $160.00. The firm's fifty day moving average price is $108.85 and its two-hundred day moving average price is $121.68. The stock has a market cap of $3.96 billion, a P/E ratio of -20.44 and a beta of 1.36.
Silicon Laboratories (NASDAQ:SLAB - Get Free Report) last issued its earnings results on Tuesday, May 13th. The semiconductor company reported ($0.08) earnings per share for the quarter, topping analysts' consensus estimates of ($0.09) by $0.01. The business had revenue of $177.71 million during the quarter, compared to analyst estimates of $177.48 million. Silicon Laboratories had a negative return on equity of 10.46% and a negative net margin of 32.69%. Silicon Laboratories's revenue was up 67.0% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($0.92) EPS. Analysts predict that Silicon Laboratories Inc. will post -0.97 earnings per share for the current fiscal year.
Insider Buying and Selling at Silicon Laboratories
In other Silicon Laboratories news, SVP Robert J. Conrad sold 1,172 shares of the business's stock in a transaction dated Tuesday, May 13th. The stock was sold at an average price of $130.00, for a total transaction of $152,360.00. Following the completion of the sale, the senior vice president now directly owns 15,972 shares in the company, valued at $2,076,360. The trade was a 6.84% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Robert Matthew Johnson sold 5,879 shares of the business's stock in a transaction dated Friday, May 16th. The shares were sold at an average price of $131.20, for a total value of $771,324.80. Following the sale, the chief executive officer now owns 73,688 shares of the company's stock, valued at approximately $9,667,865.60. This represents a 7.39% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 11,626 shares of company stock worth $1,509,319 in the last three months. 1.60% of the stock is currently owned by company insiders.
About Silicon Laboratories
(
Free Report)
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.
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