Mackenzie Financial Corp Increases Position in Silicon Laboratories, Inc. (NASDAQ:SLAB)

Mackenzie Financial Corp raised its holdings in Silicon Laboratories, Inc. (NASDAQ:SLAB - Free Report) by 11,746.2% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 236,924 shares of the semiconductor company's stock after purchasing an additional 234,924 shares during the quarter. Mackenzie Financial Corp owned 0.73% of Silicon Laboratories worth $26,671,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in SLAB. FMR LLC grew its stake in Silicon Laboratories by 0.5% during the 4th quarter. FMR LLC now owns 4,867,203 shares of the semiconductor company's stock worth $604,604,000 after purchasing an additional 23,833 shares in the last quarter. Vanguard Group Inc. grew its stake in Silicon Laboratories by 1.9% during the 4th quarter. Vanguard Group Inc. now owns 3,959,580 shares of the semiconductor company's stock worth $491,859,000 after purchasing an additional 71,942 shares in the last quarter. Capital Research Global Investors grew its stake in Silicon Laboratories by 23.3% during the 4th quarter. Capital Research Global Investors now owns 2,131,920 shares of the semiconductor company's stock worth $264,827,000 after purchasing an additional 403,010 shares in the last quarter. Federated Hermes Inc. grew its stake in Silicon Laboratories by 4.1% during the 4th quarter. Federated Hermes Inc. now owns 638,464 shares of the semiconductor company's stock worth $79,310,000 after purchasing an additional 25,178 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew its stake in Silicon Laboratories by 1.0% during the 4th quarter. Dimensional Fund Advisors LP now owns 604,168 shares of the semiconductor company's stock worth $75,053,000 after purchasing an additional 5,781 shares in the last quarter.

Silicon Laboratories Stock Down 2.3%

Shares of SLAB traded down $3.00 on Friday, reaching $128.77. The stock had a trading volume of 477,561 shares, compared to its average volume of 408,111. The firm has a market capitalization of $4.19 billion, a PE ratio of -25.20 and a beta of 1.47. The firm has a 50-day moving average of $138.15 and a 200 day moving average of $128.43. Silicon Laboratories, Inc. has a twelve month low of $82.82 and a twelve month high of $160.00.

Silicon Laboratories (NASDAQ:SLAB - Get Free Report) last announced its earnings results on Tuesday, May 13th. The semiconductor company reported ($0.08) EPS for the quarter, beating analysts' consensus estimates of ($0.09) by $0.01. The firm had revenue of $177.71 million for the quarter, compared to analysts' expectations of $177.48 million. Silicon Laboratories had a negative return on equity of 8.80% and a negative net margin of 25.16%. Silicon Laboratories's quarterly revenue was up 67.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($0.92) EPS. On average, sell-side analysts anticipate that Silicon Laboratories, Inc. will post -0.97 earnings per share for the current fiscal year.

Insider Transactions at Silicon Laboratories

In other news, CEO Robert Matthew Johnson sold 5,879 shares of the firm's stock in a transaction on 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 owned 73,688 shares in the company, valued at $9,667,865.60. This trade represents a 7.39% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Christy Wyatt sold 546 shares of Silicon Laboratories stock in a transaction on Tuesday, May 6th. The shares were sold at an average price of $104.45, for a total value of $57,029.70. Following the completion of the transaction, the director owned 8,492 shares in the company, valued at $886,989.40. The trade was a 6.04% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 11,626 shares of company stock worth $1,509,319 over the last quarter. 1.60% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the company. Needham & Company LLC reissued a "buy" rating and set a $150.00 target price on shares of Silicon Laboratories in a research note on Wednesday, May 14th. Stifel Nicolaus upped their price objective on Silicon Laboratories from $144.00 to $160.00 and gave the stock a "buy" rating in a research report on Friday, July 18th. Benchmark reaffirmed a "buy" rating and set a $160.00 price objective on shares of Silicon Laboratories in a research report on Tuesday, May 27th. Wall Street Zen raised Silicon Laboratories from a "sell" rating to a "hold" rating in a research report on Wednesday, May 14th. Finally, Barclays lowered their price objective on Silicon Laboratories from $120.00 to $80.00 and set an "equal weight" rating for the company in a research report on Tuesday, April 22nd. Four analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $139.00.

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.