Envestnet Asset Management Inc. lifted its stake in Silicon Laboratories, Inc. (NASDAQ:SLAB - Free Report) by 5.0% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 111,129 shares of the semiconductor company's stock after purchasing an additional 5,293 shares during the quarter. Envestnet Asset Management Inc. owned 0.34% of Silicon Laboratories worth $12,510,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds have also made changes to their positions in SLAB. Swiss National Bank raised its position in Silicon Laboratories by 1.9% in the fourth quarter. Swiss National Bank now owns 63,500 shares of the semiconductor company's stock valued at $7,888,000 after purchasing an additional 1,200 shares during the last quarter. Natixis Advisors LLC raised its stake in shares of Silicon Laboratories by 2.2% in the fourth quarter. Natixis Advisors LLC now owns 12,313 shares of the semiconductor company's stock valued at $1,530,000 after buying an additional 263 shares during the period. Envestnet Portfolio Solutions Inc. grew its position in shares of Silicon Laboratories by 3.4% in the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 9,462 shares of the semiconductor company's stock valued at $1,175,000 after purchasing an additional 314 shares in the last quarter. Cibc World Markets Corp bought a new position in Silicon Laboratories in the 4th quarter worth about $373,000. Finally, Thrivent Financial for Lutherans increased its position in shares of Silicon Laboratories by 17.5% during the 4th quarter. Thrivent Financial for Lutherans now owns 154,593 shares of the semiconductor company's stock valued at $19,204,000 after purchasing an additional 23,045 shares during the last quarter.
Insider Buying and Selling at Silicon Laboratories
In other news, SVP Robert J. Conrad sold 4,029 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 $528,604.80. Following the completion of the sale, the senior vice president owned 25,380 shares in the company, valued at $3,329,856. This trade represents a 13.70% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Robert Matthew Johnson sold 5,879 shares of the business'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 $771,324.80. Following the transaction, the chief executive officer owned 73,688 shares of the company's stock, valued at $9,667,865.60. This trade represents a 7.39% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 11,626 shares of company stock valued at $1,509,319. Corporate insiders own 1.60% of the company's stock.
Silicon Laboratories Stock Down 2.2%
NASDAQ:SLAB traded down $3.23 during midday trading on Monday, reaching $146.40. The stock had a trading volume of 361,185 shares, compared to its average volume of 354,246. The stock has a market cap of $4.77 billion, a P/E ratio of -28.65 and a beta of 1.47. The firm has a fifty day simple moving average of $136.58 and a two-hundred day simple moving average of $127.93. 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 released its quarterly earnings data on Tuesday, May 13th. The semiconductor company reported ($0.08) EPS for the quarter, topping analysts' consensus estimates 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 firm had revenue of $177.71 million during the quarter, compared to the consensus estimate of $177.48 million. During the same quarter in the previous year, the company posted ($0.92) earnings per share. The firm's revenue was up 67.0% on a year-over-year basis. On average, sell-side analysts anticipate that Silicon Laboratories, Inc. will post -0.97 earnings per share for the current fiscal year.
Wall Street Analyst Weigh In
A number of research firms have recently commented on SLAB. KeyCorp upped their target price on Silicon Laboratories from $160.00 to $180.00 and gave the company an "overweight" rating in a research note on Tuesday, July 8th. Benchmark reaffirmed a "buy" rating and issued a $160.00 price objective on shares of Silicon Laboratories in a research note on Tuesday, May 27th. Wall Street Zen raised Silicon Laboratories from a "sell" rating to a "hold" rating in a research report on Wednesday, May 14th. Stifel Nicolaus increased their price objective on Silicon Laboratories from $144.00 to $160.00 and gave the stock a "buy" rating in a research report on Friday. Finally, Susquehanna raised their price target on Silicon Laboratories from $100.00 to $110.00 and gave the company a "neutral" rating in a report on Wednesday, May 14th. Four equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $134.00.
Check Out Our Latest Research Report on Silicon Laboratories
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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