Intech Investment Management LLC Trims Stock Position in Silicon Laboratories, Inc. $SLAB

Key Points

• Intech Investment Management LLC cut its Silicon Laboratories stake by 10.3% in the fourth quarter, selling 7,173 shares and leaving it with 62,194 shares worth about $8.13 million.
• Silicon Laboratories reported better-than-expected earnings for the quarter, with EPS of $0.53 versus the $0.49 consensus, while revenue rose 20.1% year over year to $213.5 million.
• Analyst sentiment remains cautious: the stock has a Hold consensus rating, with a consensus price target of $171.43, even as some firms recently raised their targets.

Intech Investment Management LLC lowered its holdings in shares of Silicon Laboratories, Inc. (NASDAQ:SLAB - Free Report) by 10.3% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 62,194 shares of the semiconductor company's stock after selling 7,173 shares during the quarter. Intech Investment Management LLC owned approximately 0.19% of Silicon Laboratories worth $8,129,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. EverSource Wealth Advisors LLC grew its stake in shares of Silicon Laboratories by 45.7% during the 3rd quarter. EverSource Wealth Advisors LLC now owns 274 shares of the semiconductor company's stock valued at $36,000 after acquiring an additional 86 shares during the period. Covestor Ltd grew its stake in shares of Silicon Laboratories by 260.3% during the 4th quarter. Covestor Ltd now owns 281 shares of the semiconductor company's stock valued at $37,000 after acquiring an additional 203 shares during the period. UMB Bank n.a. grew its stake in shares of Silicon Laboratories by 43.9% during the 3rd quarter. UMB Bank n.a. now owns 282 shares of the semiconductor company's stock valued at $37,000 after acquiring an additional 86 shares during the period. Hantz Financial Services Inc. grew its stake in shares of Silicon Laboratories by 189.6% during the 3rd quarter. Hantz Financial Services Inc. now owns 362 shares of the semiconductor company's stock valued at $47,000 after acquiring an additional 237 shares during the period. Finally, Jones Financial Companies Lllp grew its stake in shares of Silicon Laboratories by 121.4% during the 1st quarter. Jones Financial Companies Lllp now owns 496 shares of the semiconductor company's stock valued at $56,000 after acquiring an additional 272 shares during the period.

Silicon Laboratories Stock Down 0.4%

Shares of NASDAQ:SLAB opened at $217.60 on Friday. Silicon Laboratories, Inc. has a 52-week low of $115.50 and a 52-week high of $219.20. The stock has a market cap of $7.18 billion, a price-to-earnings ratio of -142.22 and a beta of 1.40. The business has a 50-day moving average price of $213.30 and a 200-day moving average price of $177.92.

Silicon Laboratories (NASDAQ:SLAB - Get Free Report) last announced its quarterly earnings results on Tuesday, May 5th. The semiconductor company reported $0.53 earnings per share for the quarter, beating the consensus estimate of $0.49 by $0.04. The company had revenue of $213.50 million during the quarter, compared to analysts' expectations of $214.02 million. Silicon Laboratories had a negative return on equity of 2.18% and a negative net margin of 6.13%.Silicon Laboratories's quarterly revenue was up 20.1% on a year-over-year basis. During the same period last year, the business earned ($0.08) earnings per share. As a group, equities analysts anticipate that Silicon Laboratories, Inc. will post 0.74 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the company. Citigroup boosted their price objective on Silicon Laboratories from $135.00 to $231.00 and gave the company a "neutral" rating in a research note on Friday, February 6th. KeyCorp lowered Silicon Laboratories from an "overweight" rating to a "hold" rating in a report on Wednesday, February 4th. Royal Bank Of Canada increased their price target on Silicon Laboratories from $160.00 to $205.00 and gave the company a "sector perform" rating in a report on Thursday, February 5th. Weiss Ratings reiterated a "sell (d-)" rating on shares of Silicon Laboratories in a research note on Friday, March 27th. Finally, Benchmark lowered Silicon Laboratories from a "buy" rating to a "hold" rating in a research note on Wednesday, February 4th. One analyst has rated the stock with a Buy rating, eight have issued a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $171.43.

Insider Buying and Selling

In other Silicon Laboratories news, CEO Robert Matthew Johnson sold 8,024 shares of the firm's stock in a transaction that occurred on Monday, May 18th. The stock was sold at an average price of $216.83, for a total value of $1,739,843.92. Following the sale, the chief executive officer directly owned 80,519 shares of the company's stock, valued at approximately $17,458,934.77. This trade represents a 9.06% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 1.60% of the company's stock.

Silicon Laboratories Company Profile

Silicon Laboratories NASDAQ: SLAB is a global semiconductor company that develops high-performance analog and mixed-signal integrated circuits, wireless system-on-chips (SoCs), microcontrollers, and radio frequency (RF) solutions. Its product portfolio is tailored to support the Internet of Things (IoT), infrastructure, industrial automation, consumer electronics, automotive, and energy markets. By combining silicon, software, and tools, Silicon Labs aims to accelerate development cycles and deliver low-power, highly integrated solutions that address demanding application requirements.

Founded in 1996 and headquartered in Austin, Texas, Silicon Labs has grown into a multinational organization with engineering and sales operations across North America, Europe, and Asia.

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