Envestnet Asset Management Inc. Acquires 5,293 Shares of Silicon Laboratories, Inc. (NASDAQ:SLAB)

Envestnet Asset Management Inc. lifted its stake in Silicon Laboratories, Inc. (NASDAQ:SLAB - Free Report) by 5.0% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 111,129 shares of the semiconductor company's stock after acquiring an additional 5,293 shares during the period. Envestnet Asset Management Inc. owned approximately 0.34% of Silicon Laboratories worth $12,510,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Capital Research Global Investors increased its holdings in shares of Silicon Laboratories by 23.3% during the 4th quarter. Capital Research Global Investors now owns 2,131,920 shares of the semiconductor company's stock worth $264,827,000 after purchasing an additional 403,010 shares during the period. Norges Bank acquired a new stake in Silicon Laboratories during the fourth quarter worth $34,622,000. Invesco Ltd. boosted its stake in Silicon Laboratories by 46.9% during the fourth quarter. Invesco Ltd. now owns 595,382 shares of the semiconductor company's stock worth $73,958,000 after buying an additional 190,085 shares in the last quarter. GAMMA Investing LLC boosted its stake in Silicon Laboratories by 22,374.1% during the first quarter. GAMMA Investing LLC now owns 126,754 shares of the semiconductor company's stock worth $14,269,000 after buying an additional 126,190 shares in the last quarter. Finally, Raymond James Financial Inc. acquired a new stake in Silicon Laboratories during the fourth quarter worth $14,252,000.

Analysts Set New Price Targets

SLAB has been the topic of a number of recent research reports. Stifel Nicolaus lifted their price target on shares of Silicon Laboratories from $144.00 to $160.00 and gave the stock a "buy" rating in a research note on Friday, July 18th. Barclays cut their price objective on Silicon Laboratories from $120.00 to $80.00 and set an "equal weight" rating for the company in a report on Tuesday, April 22nd. Susquehanna boosted their price target on shares of Silicon Laboratories from $110.00 to $150.00 and gave the company a "neutral" rating in a research report on Tuesday. KeyCorp boosted their price target on shares of Silicon Laboratories from $160.00 to $180.00 and gave the company an "overweight" rating in a research report on Tuesday, July 8th. Finally, Benchmark restated a "buy" rating and issued a $160.00 price target on shares of Silicon Laboratories in a research report on Tuesday, May 27th. Four equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $139.00.

Silicon Laboratories Trading Down 1.9%

Shares of SLAB traded down $2.67 on Wednesday, reaching $139.75. 335,667 shares of the company's stock were exchanged, compared to its average volume of 352,644. The stock has a market capitalization of $4.55 billion, a P/E ratio of -27.35 and a beta of 1.47. The business has a 50 day moving average price of $137.16 and a two-hundred day moving average price of $128.16. Silicon Laboratories, Inc. has a 12 month low of $82.82 and a 12 month high of $160.00.

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

Insider Transactions at Silicon Laboratories

In other news, CEO Robert Matthew Johnson sold 5,879 shares of the firm's stock in a transaction that occurred on Friday, May 16th. The shares were sold at an average price of $131.20, for a total transaction of $771,324.80. Following the completion of the transaction, the chief executive officer directly owned 73,688 shares of the company's stock, valued at $9,667,865.60. This trade represents a 7.39% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Christy Wyatt sold 546 shares of the firm's stock in a transaction that occurred on Tuesday, May 6th. The stock was sold at an average price of $104.45, for a total transaction of $57,029.70. Following the transaction, the director directly owned 8,492 shares of the company's stock, valued at $886,989.40. This represents a 6.04% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 11,626 shares of company stock valued at $1,509,319 in the last ninety days. 1.60% of the stock is currently owned by corporate insiders.

About Silicon Laboratories

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.