Man Group plc acquired a new position in shares of Silicon Laboratories Inc. (NASDAQ:SLAB - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 6,426 shares of the semiconductor company's stock, valued at approximately $798,000.
A number of other institutional investors and hedge funds also recently made changes to their positions in SLAB. Barclays PLC raised its stake 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 worth $8,157,000 after purchasing an additional 13,363 shares in the last quarter. Park Avenue Securities LLC bought a new stake in shares of Silicon Laboratories during the 4th quarter worth approximately $268,000. Nisa Investment Advisors LLC raised its stake in shares of Silicon Laboratories by 6.2% during the 4th quarter. Nisa Investment Advisors LLC now owns 4,134 shares of the semiconductor company's stock worth $514,000 after purchasing an additional 240 shares in the last quarter. SG Americas Securities LLC raised its stake in shares of Silicon Laboratories by 1,106.4% during the 4th quarter. SG Americas Securities LLC now owns 23,791 shares of the semiconductor company's stock worth $2,955,000 after purchasing an additional 21,819 shares in the last quarter. Finally, KBC Group NV increased its holdings in shares of Silicon Laboratories by 42.1% during the 4th quarter. KBC Group NV now owns 1,279 shares of the semiconductor company's stock worth $159,000 after acquiring an additional 379 shares during the last quarter.
Wall Street Analyst Weigh In
A number of research analysts recently weighed in on SLAB shares. Stifel Nicolaus decreased their target price on Silicon Laboratories from $145.00 to $120.00 and set a "buy" rating on the stock in a report on Thursday, April 17th. Susquehanna boosted their target price on Silicon Laboratories from $100.00 to $110.00 and gave the stock a "neutral" rating in a report on Wednesday, May 14th. Wall Street Zen raised Silicon Laboratories from a "sell" rating to a "hold" rating in a report on Wednesday, May 14th. Needham & Company LLC reissued a "buy" rating and set a $150.00 target price on shares of Silicon Laboratories in a report on Wednesday, May 14th. Finally, Barclays decreased their target price on Silicon Laboratories from $120.00 to $80.00 and set an "equal weight" rating on the stock in a report on Tuesday, April 22nd. Four equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $126.50.
Get Our Latest Report on Silicon Laboratories
Insider Buying and Selling at Silicon Laboratories
In other news, CEO Robert Matthew Johnson sold 5,879 shares of the 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 now directly owns 73,688 shares of the company's stock, valued at approximately $9,667,865.60. This represents a 7.39% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP Robert J. Conrad sold 4,029 shares of the stock in a transaction 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 now directly owns 25,380 shares in the company, 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 have sold a total of 11,626 shares of company stock valued at $1,509,319 in the last ninety days. 1.60% of the stock is currently owned by corporate insiders.
Silicon Laboratories Price Performance
NASDAQ SLAB traded up $0.23 on Thursday, reaching $123.64. The stock had a trading volume of 39,814 shares, compared to its average volume of 336,533. The firm has a fifty day moving average of $108.78 and a two-hundred day moving average of $121.87. Silicon Laboratories Inc. has a 1-year low of $82.82 and a 1-year high of $160.00. The company has a market cap of $4.03 billion, a P/E ratio of -20.87 and a beta of 1.36.
Silicon Laboratories (NASDAQ:SLAB - Get Free Report) last issued its quarterly earnings data on Tuesday, May 13th. The semiconductor company reported ($0.08) EPS for the quarter, beating analysts' consensus estimates of ($0.09) by $0.01. Silicon Laboratories had a negative return on equity of 10.46% and a negative net margin of 32.69%. The firm had revenue of $177.71 million for the quarter, compared to analyst estimates of $177.48 million. During the same period in the prior year, the firm posted ($0.92) EPS. The company's revenue for the quarter was up 67.0% on a year-over-year basis. Research analysts predict that Silicon Laboratories Inc. will post -0.97 EPS for the current fiscal year.
Silicon Laboratories Company 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.
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