GW&K Investment Management LLC decreased its holdings in Silicon Laboratories, Inc. (NASDAQ:SLAB - Free Report) by 0.8% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 676,786 shares of the semiconductor company's stock after selling 5,259 shares during the quarter. Silicon Laboratories comprises about 0.7% of GW&K Investment Management LLC's portfolio, making the stock its 27th biggest position. GW&K Investment Management LLC owned approximately 2.08% of Silicon Laboratories worth $76,186,000 at the end of the most recent quarter.
A number of other institutional investors have also recently made changes to their positions in the business. Allianz Asset Management GmbH boosted its position in shares of Silicon Laboratories by 14.9% in the 1st quarter. Allianz Asset Management GmbH now owns 153,758 shares of the semiconductor company's stock worth $17,309,000 after purchasing an additional 19,908 shares in the last quarter. Larson Financial Group LLC acquired a new stake in Silicon Laboratories during the 1st quarter worth about $55,000. Edgestream Partners L.P. acquired a new stake in Silicon Laboratories during the 1st quarter worth about $325,000. Securian Asset Management Inc. lifted its position in Silicon Laboratories by 4.2% during the 1st quarter. Securian Asset Management Inc. now owns 2,498 shares of the semiconductor company's stock worth $281,000 after acquiring an additional 100 shares during the period. Finally, Louisiana State Employees Retirement System lifted its position in Silicon Laboratories by 1.1% during the 1st quarter. Louisiana State Employees Retirement System now owns 9,100 shares of the semiconductor company's stock worth $1,024,000 after acquiring an additional 100 shares during the period.
Silicon Laboratories Stock Down 1.5%
Shares of SLAB stock traded down $2.16 on Thursday, hitting $137.59. The company had a trading volume of 232,388 shares, compared to its average volume of 408,420. The firm has a market cap of $4.48 billion, a P/E ratio of -26.93 and a beta of 1.47. The company has a 50-day moving average price of $137.16 and a 200-day moving average price of $128.16. Silicon Laboratories, Inc. has a twelve month low of $82.82 and a twelve month high of $160.00.
Silicon Laboratories (NASDAQ:SLAB - Get Free Report) last released its quarterly 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 company had revenue of $177.71 million during the quarter, compared to analysts' expectations of $177.48 million. Silicon Laboratories had a negative return on equity of 8.80% and a negative net margin of 25.16%. Silicon Laboratories's quarterly revenue was up 67.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.92) EPS. Equities research analysts expect that Silicon Laboratories, Inc. will post -0.97 EPS for the current year.
Wall Street Analysts Forecast Growth
A number of analysts have commented on the company. Barclays lowered their price target on Silicon Laboratories from $120.00 to $80.00 and set an "equal weight" rating for the company in a research report on Tuesday, April 22nd. Benchmark reaffirmed a "buy" rating and set a $160.00 price target on shares of Silicon Laboratories in a research report on Tuesday, May 27th. Susquehanna lifted their price target on Silicon Laboratories from $110.00 to $150.00 and gave the stock a "neutral" rating in a research report on Tuesday. KeyCorp lifted their price target on Silicon Laboratories from $160.00 to $180.00 and gave the stock an "overweight" rating in a research report on Tuesday, July 8th. Finally, Wall Street Zen raised Silicon Laboratories from a "sell" rating to a "hold" rating in a research report on Wednesday, May 14th. Four 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 has a consensus rating of "Moderate Buy" and a consensus target price of $139.00.
Check Out Our Latest Report on SLAB
Insider Buying and Selling
In related news, 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 value of $528,604.80. Following the completion of the transaction, the senior vice president owned 25,380 shares of the company's stock, valued at approximately $3,329,856. This represents a 13.70% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Robert Matthew Johnson sold 5,879 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 value 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. The trade was a 7.39% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 11,626 shares of company stock valued at $1,509,319. 1.60% of the stock is 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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