Edgestream Partners L.P. Invests $325,000 in Silicon Laboratories, Inc. (NASDAQ:SLAB)

Edgestream Partners L.P. purchased a new position in Silicon Laboratories, Inc. (NASDAQ:SLAB - Free Report) in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 2,886 shares of the semiconductor company's stock, valued at approximately $325,000.

Other hedge funds have also modified their holdings of the company. Natixis Advisors LLC boosted its position in shares of Silicon Laboratories by 2.2% during the fourth quarter. Natixis Advisors LLC now owns 12,313 shares of the semiconductor company's stock worth $1,530,000 after acquiring an additional 263 shares during the last quarter. Envestnet Portfolio Solutions Inc. boosted its position in shares of Silicon Laboratories by 3.4% during the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 9,462 shares of the semiconductor company's stock worth $1,175,000 after acquiring an additional 314 shares during the last quarter. Cibc World Markets Corp bought a new position in shares of Silicon Laboratories during the fourth quarter worth $373,000. Xponance Inc. boosted its position in shares of Silicon Laboratories by 5.1% during the fourth quarter. Xponance Inc. now owns 4,595 shares of the semiconductor company's stock worth $571,000 after acquiring an additional 225 shares during the last quarter. Finally, American Century Companies Inc. boosted its position in shares of Silicon Laboratories by 9.2% during the fourth quarter. American Century Companies Inc. now owns 343,131 shares of the semiconductor company's stock worth $42,624,000 after acquiring an additional 28,867 shares during the last quarter.

Silicon Laboratories Price Performance

Shares of SLAB traded down $3.90 during midday trading on Thursday, hitting $135.85. The stock had a trading volume of 453,990 shares, compared to its average volume of 434,586. Silicon Laboratories, Inc. has a 1 year low of $82.82 and a 1 year high of $160.00. The firm has a market cap of $4.42 billion, a PE ratio of -26.59 and a beta of 1.47. The stock's 50 day moving average is $137.35 and its 200 day moving average is $128.27.

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 for the quarter, beating the consensus estimate of ($0.09) by $0.01. Silicon Laboratories had a negative net margin of 25.16% and a negative return on equity of 8.80%. The business had revenue of $177.71 million for the quarter, compared to the consensus estimate of $177.48 million. During the same quarter in the prior year, the firm posted ($0.92) earnings per share. The business's revenue for the quarter was up 67.0% on a year-over-year basis. As a group, equities research analysts expect that Silicon Laboratories, Inc. will post -0.97 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

SLAB has been the subject of a number of research reports. Wall Street Zen upgraded shares of Silicon Laboratories from a "sell" rating to a "hold" rating in a research report on Wednesday, May 14th. Stifel Nicolaus upped their price target on shares of Silicon Laboratories from $144.00 to $160.00 and gave the company a "buy" rating in a research note on Friday, July 18th. Benchmark reaffirmed a "buy" rating and set a $160.00 price target on shares of Silicon Laboratories in a research note on Tuesday, May 27th. Needham & Company LLC reaffirmed a "buy" rating and set a $150.00 price target on shares of Silicon Laboratories in a research note on Wednesday, May 14th. Finally, Susquehanna upped their price target on shares of Silicon Laboratories from $110.00 to $150.00 and gave the company a "neutral" rating in a research note on Tuesday. Four investment analysts have rated the stock with a hold rating and five have given a buy rating to the company's stock. Based on data from MarketBeat, Silicon Laboratories currently has a consensus rating of "Moderate Buy" and an average target price of $139.00.

Insider Activity

In other news, CEO Robert Matthew Johnson sold 5,879 shares of the stock in a transaction on 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 owned 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 sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP Robert J. Conrad sold 4,029 shares of the company's stock in a transaction dated Friday, May 16th. The stock was 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. The trade was a 13.70% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 11,626 shares of company stock valued at $1,509,319. 1.60% of the stock is currently owned by company insiders.

Silicon Laboratories Company 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.