Mackenzie Financial Corp Has $26.67 Million Holdings in Silicon Laboratories, Inc. (NASDAQ:SLAB)

Mackenzie Financial Corp raised its holdings in shares of Silicon Laboratories, Inc. (NASDAQ:SLAB - Free Report) by 11,746.2% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 236,924 shares of the semiconductor company's stock after acquiring an additional 234,924 shares during the quarter. Mackenzie Financial Corp owned approximately 0.73% of Silicon Laboratories worth $26,671,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently added to or reduced their stakes in SLAB. Skandinaviska Enskilda Banken AB publ acquired a new stake in shares of Silicon Laboratories in the first quarter worth approximately $34,000. UMB Bank n.a. lifted its position in Silicon Laboratories by 111.3% during the first quarter. UMB Bank n.a. now owns 336 shares of the semiconductor company's stock valued at $38,000 after buying an additional 177 shares in the last quarter. Parallel Advisors LLC lifted its position in Silicon Laboratories by 143.7% during the first quarter. Parallel Advisors LLC now owns 463 shares of the semiconductor company's stock valued at $52,000 after buying an additional 273 shares in the last quarter. Larson Financial Group LLC acquired a new position in Silicon Laboratories during the first quarter valued at approximately $55,000. Finally, Headlands Technologies LLC acquired a new position in Silicon Laboratories during the fourth quarter valued at approximately $70,000.

Analyst Ratings Changes

SLAB has been the topic of a number of recent research reports. KeyCorp boosted their target price on shares of Silicon Laboratories from $160.00 to $180.00 and gave the stock an "overweight" rating in a research report on Tuesday, July 8th. Barclays reduced their target price on shares of Silicon Laboratories from $120.00 to $80.00 and set an "equal weight" rating on the stock in a research report on Tuesday, April 22nd. Stifel Nicolaus boosted their target price on shares of Silicon Laboratories from $144.00 to $160.00 and gave the stock a "buy" rating in a research report on Friday, July 18th. Susquehanna boosted their target price on shares of Silicon Laboratories from $110.00 to $150.00 and gave the stock a "neutral" rating in a research report on Tuesday, July 22nd. Finally, Benchmark restated a "buy" rating and issued a $160.00 price target on shares of Silicon Laboratories in a research note on Tuesday, May 27th. Four research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $139.00.

Insider Transactions at Silicon Laboratories

In other news, SVP Robert J. Conrad sold 4,029 shares of the company's stock in a transaction dated Friday, May 16th. The shares were sold at an average price of $131.20, for a total transaction of $528,604.80. Following the completion of the transaction, the senior vice president owned 25,380 shares in the company, valued at approximately $3,329,856. This represents a 13.70% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Christy Wyatt sold 546 shares of the company'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 transaction, the director owned 8,492 shares of the company's stock, valued at $886,989.40. This represents a 6.04% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 11,626 shares of company stock worth $1,509,319. Insiders own 1.60% of the company's stock.

Silicon Laboratories Stock Down 2.3%

SLAB stock traded down $3.00 during trading on Friday, hitting $128.77. 477,561 shares of the company's stock traded hands, compared to its average volume of 431,637. Silicon Laboratories, Inc. has a 52 week low of $82.82 and a 52 week high of $160.00. The stock has a fifty day moving average price of $138.29 and a two-hundred day moving average price of $128.40. The stock has a market capitalization of $4.19 billion, a price-to-earnings ratio of -25.20 and a beta of 1.48.

Silicon Laboratories (NASDAQ:SLAB - Get Free Report) last released its earnings results on Tuesday, May 13th. The semiconductor company reported ($0.08) earnings per share for the quarter, beating the consensus estimate 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%. The firm's revenue for the quarter was up 67.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.92) earnings per share. As a group, equities research analysts expect that Silicon Laboratories, Inc. will post -0.97 EPS for the current fiscal year.

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.