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Silicon Laboratories, Inc. (NASDAQ:SLAB) Stake Decreased by Kornitzer Capital Management Inc. KS

Silicon Laboratories logo with Computer and Technology background

Kornitzer Capital Management Inc. KS trimmed its stake in shares of Silicon Laboratories, Inc. (NASDAQ:SLAB - Free Report) by 12.8% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 62,330 shares of the semiconductor company's stock after selling 9,130 shares during the quarter. Kornitzer Capital Management Inc. KS owned about 0.19% of Silicon Laboratories worth $7,016,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Coldstream Capital Management Inc. raised its holdings 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 valued at $307,000 after acquiring an additional 68 shares during the period. Jones Financial Companies Lllp raised its holdings in shares of Silicon Laboratories by 44.5% during the fourth quarter. Jones Financial Companies Lllp now owns 224 shares of the semiconductor company's stock valued at $28,000 after acquiring an additional 69 shares during the period. Oregon Public Employees Retirement Fund raised its holdings 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 valued at $751,000 after acquiring an additional 100 shares during the period. State of Michigan Retirement System raised its holdings 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 acquiring an additional 100 shares during the period. Finally, Securian Asset Management Inc. raised its holdings 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 acquiring an additional 100 shares during the period.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on SLAB shares. Needham & Company LLC restated a "buy" rating and set a $150.00 price target on shares of Silicon Laboratories in a report on Wednesday, May 14th. Barclays dropped their price objective on shares of Silicon Laboratories from $120.00 to $80.00 and set an "equal weight" rating on the stock in a research note on Tuesday, April 22nd. Stifel Nicolaus upped their price objective on shares of Silicon Laboratories from $144.00 to $160.00 and gave the company a "buy" rating in a research note on Friday. Susquehanna upped their price objective on shares of Silicon Laboratories from $100.00 to $110.00 and gave the company a "neutral" rating in a research note on Wednesday, May 14th. Finally, KeyCorp upped their price objective on shares of Silicon Laboratories from $160.00 to $180.00 and gave the company an "overweight" rating in a research note on Tuesday, July 8th. Four equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $134.00.

Read Our Latest Stock Analysis on Silicon Laboratories

Insider Activity at Silicon Laboratories

In other Silicon Laboratories news, Director Christy Wyatt sold 546 shares of the company's stock in a transaction on Tuesday, May 6th. The stock was sold at an average price of $104.45, for a total value of $57,029.70. Following the completion of the sale, the director directly owned 8,492 shares in the company, valued at approximately $886,989.40. This represents a 6.04% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Robert J. Conrad sold 4,029 shares of the business's stock in a transaction that occurred on Friday, May 16th. The stock was sold at an average price of $131.20, for a total value of $528,604.80. Following the sale, the senior vice president owned 25,380 shares of the company's stock, valued at approximately $3,329,856. This trade represents a 13.70% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 11,626 shares of company stock worth $1,509,319 over the last quarter. 1.60% of the stock is owned by corporate insiders.

Silicon Laboratories Stock Performance

SLAB stock traded up $4.24 during mid-day trading on Friday, hitting $149.63. 559,620 shares of the company were exchanged, compared to its average volume of 354,233. Silicon Laboratories, Inc. has a 1-year low of $82.82 and a 1-year high of $160.00. The firm has a market cap of $4.87 billion, a P/E ratio of -29.28 and a beta of 1.47. The firm's 50 day simple moving average is $136.58 and its 200 day simple moving average is $127.89.

Silicon Laboratories (NASDAQ:SLAB - Get Free Report) last posted its quarterly earnings data on Tuesday, May 13th. The semiconductor company reported ($0.08) earnings per share for the quarter, topping the consensus estimate of ($0.09) by $0.01. The business had revenue of $177.71 million during the quarter, compared to analysts' expectations 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 was up 67.0% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($0.92) earnings per share. On average, equities research analysts predict that Silicon Laboratories, Inc. will post -0.97 EPS for the current fiscal year.

Silicon Laboratories Profile

(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.

Further Reading

Institutional Ownership by Quarter for Silicon Laboratories (NASDAQ:SLAB)

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