GW&K Investment Management LLC Sells 5,259 Shares of Silicon Laboratories, Inc. (NASDAQ:SLAB)

GW&K Investment Management LLC reduced its position in Silicon Laboratories, Inc. (NASDAQ:SLAB - Free Report) by 0.8% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 676,786 shares of the semiconductor company's stock after selling 5,259 shares during the period. Silicon Laboratories makes up 0.7% of GW&K Investment Management LLC's investment portfolio, making the stock its 27th largest holding. GW&K Investment Management LLC owned about 2.08% of Silicon Laboratories worth $76,186,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Coldstream Capital Management Inc. increased its position in shares of Silicon Laboratories by 2.8% during the fourth quarter. Coldstream Capital Management Inc. now owns 2,473 shares of the semiconductor company's stock worth $307,000 after acquiring an additional 68 shares in the last quarter. Oregon Public Employees Retirement Fund increased its position in shares of Silicon Laboratories by 1.5% during the first quarter. Oregon Public Employees Retirement Fund now owns 6,668 shares of the semiconductor company's stock worth $751,000 after acquiring an additional 100 shares in the last quarter. State of Michigan Retirement System lifted its position in shares of Silicon Laboratories by 1.3% during the first quarter. State of Michigan Retirement System now owns 7,797 shares of the semiconductor company's stock valued at $878,000 after purchasing an additional 100 shares in the last quarter. Securian Asset Management Inc. lifted its position in shares of Silicon Laboratories by 4.2% during the first quarter. Securian Asset Management Inc. now owns 2,498 shares of the semiconductor company's stock valued at $281,000 after purchasing an additional 100 shares in the last quarter. Finally, Louisiana State Employees Retirement System lifted its position in shares of Silicon Laboratories by 1.1% during the first quarter. Louisiana State Employees Retirement System now owns 9,100 shares of the semiconductor company's stock valued at $1,024,000 after purchasing an additional 100 shares in the last quarter.

Silicon Laboratories Price Performance

SLAB opened at $149.63 on Monday. The firm has a market cap of $4.87 billion, a P/E ratio of -29.28 and a beta of 1.47. Silicon Laboratories, Inc. has a 1-year low of $82.82 and a 1-year high of $160.00. The company has a 50 day simple moving average of $136.58 and a two-hundred day simple moving average of $127.93.

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 firm had revenue of $177.71 million during the quarter, compared to analyst estimates of $177.48 million. Silicon Laboratories had a negative net margin of 25.16% and a negative return on equity of 8.80%. Silicon Laboratories's revenue for the quarter was up 67.0% on a year-over-year basis. During the same quarter in the prior year, the business earned ($0.92) earnings per share. Equities analysts anticipate that Silicon Laboratories, Inc. will post -0.97 earnings per share for the current year.

Analysts Set New Price Targets

A number of research firms recently weighed in on SLAB. Stifel Nicolaus raised their price target on shares of Silicon Laboratories from $144.00 to $160.00 and gave the company a "buy" rating in a research report on Friday. Wall Street Zen raised shares of Silicon Laboratories from a "sell" rating to a "hold" rating in a report on Wednesday, May 14th. KeyCorp lifted their price target on shares of Silicon Laboratories from $160.00 to $180.00 and gave the stock an "overweight" rating in a report on Tuesday, July 8th. Needham & Company LLC reaffirmed a "buy" rating and issued a $150.00 price target on shares of Silicon Laboratories in a report on Wednesday, May 14th. Finally, Susquehanna lifted their price target on shares of Silicon Laboratories from $100.00 to $110.00 and gave the stock a "neutral" rating in a report on Wednesday, May 14th. Four research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $134.00.

Insider Activity at Silicon Laboratories

In related news, SVP Robert J. Conrad sold 4,029 shares of the firm'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 $528,604.80. Following the transaction, the senior vice president owned 25,380 shares of the company's stock, valued at $3,329,856. This trade represents a 13.70% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Christy Wyatt sold 546 shares of the firm's stock in a transaction dated Tuesday, May 6th. The stock was sold at an average price of $104.45, for a total transaction of $57,029.70. Following the completion of the transaction, the director directly owned 8,492 shares in the company, valued at $886,989.40. This represents a 6.04% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 11,626 shares of company stock valued at $1,509,319 over the last 90 days. 1.60% of the stock is 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.

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