Lazard Asset Management LLC boosted its stake in shares of Silicon Laboratories Inc. (NASDAQ:SLAB - Free Report) by 47.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 7,963 shares of the semiconductor company's stock after buying an additional 2,571 shares during the period. Lazard Asset Management LLC's holdings in Silicon Laboratories were worth $989,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Raymond James Financial Inc. purchased a new stake in shares of Silicon Laboratories during the 4th quarter valued at $14,252,000. Arizona State Retirement System lifted its holdings in shares of Silicon Laboratories by 1.8% during the 4th quarter. Arizona State Retirement System now owns 9,360 shares of the semiconductor company's stock valued at $1,163,000 after purchasing an additional 167 shares during the last quarter. Barclays PLC lifted its holdings in shares of Silicon Laboratories by 23.4% during the 3rd quarter. Barclays PLC now owns 70,568 shares of the semiconductor company's stock valued at $8,157,000 after purchasing an additional 13,363 shares during the last quarter. Arkadios Wealth Advisors purchased a new stake in shares of Silicon Laboratories during the 4th quarter valued at $237,000. Finally, Pacer Advisors Inc. lifted its holdings in shares of Silicon Laboratories by 1.8% during the 4th quarter. Pacer Advisors Inc. now owns 4,839 shares of the semiconductor company's stock valued at $601,000 after purchasing an additional 87 shares during the last quarter.
Analysts Set New Price Targets
Several analysts have recently commented on the company. Wall Street Zen upgraded Silicon Laboratories from a "sell" rating to a "hold" rating in a report on Wednesday, May 14th. Susquehanna increased their price objective on Silicon Laboratories from $100.00 to $110.00 and gave the company a "neutral" rating in a report on Wednesday, May 14th. Needham & Company LLC reiterated a "buy" rating and set a $150.00 price objective on shares of Silicon Laboratories in a report on Wednesday, May 14th. Stifel Nicolaus reduced their target price on Silicon Laboratories from $145.00 to $120.00 and set a "buy" rating for the company in a research note on Thursday, April 17th. Finally, Barclays reduced their target price on Silicon Laboratories from $120.00 to $80.00 and set an "equal weight" rating for the company in a research note on Tuesday, April 22nd. Four research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, Silicon Laboratories presently has a consensus rating of "Moderate Buy" and a consensus target price of $126.50.
Check Out Our Latest Research Report on Silicon Laboratories
Silicon Laboratories Stock Performance
SLAB stock traded down $1.32 during midday trading on Friday, reaching $121.43. The stock had a trading volume of 265,583 shares, compared to its average volume of 337,770. The stock has a market cap of $3.96 billion, a PE ratio of -20.44 and a beta of 1.36. The firm has a fifty day simple moving average of $108.85 and a two-hundred day simple moving average of $121.77. Silicon Laboratories Inc. has a 52-week low of $82.82 and a 52-week high of $160.00.
Silicon Laboratories (NASDAQ:SLAB - Get Free Report) last announced its quarterly earnings results 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 company had revenue of $177.71 million for the quarter, compared to the consensus estimate of $177.48 million. Silicon Laboratories had a negative return on equity of 10.46% and a negative net margin of 32.69%. The firm's revenue for the quarter was up 67.0% compared to the same quarter last year. During the same period last year, the firm earned ($0.92) EPS. On average, sell-side analysts predict that Silicon Laboratories Inc. will post -0.97 EPS for the current fiscal year.
Insiders Place Their Bets
In other Silicon Laboratories news, CEO Robert Matthew Johnson sold 5,879 shares of the stock in a transaction dated Friday, May 16th. The stock was sold at an average price of $131.20, for a total transaction of $771,324.80. Following the sale, the chief executive officer now directly owns 73,688 shares of the company's stock, valued at approximately $9,667,865.60. This trade represents a 7.39% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Christy Wyatt sold 546 shares of the stock in a transaction dated Tuesday, May 6th. The stock was sold at an average price of $104.45, for a total value of $57,029.70. Following the sale, the director now directly owns 8,492 shares in the company, valued at $886,989.40. This represents a 6.04% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 11,626 shares of company stock valued at $1,509,319. Company insiders own 1.60% of the company's stock.
Silicon Laboratories Profile
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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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