Silicon Laboratories Inc. (NASDAQ:SLAB) Shares Bought by Nuveen Asset Management LLC

Nuveen Asset Management LLC grew its stake in shares of Silicon Laboratories Inc. (NASDAQ:SLAB - Free Report) by 5.1% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 289,369 shares of the semiconductor company's stock after acquiring an additional 14,117 shares during the quarter. Nuveen Asset Management LLC owned about 0.89% of Silicon Laboratories worth $35,945,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of the stock. Raymond James Financial Inc. acquired a new position in Silicon Laboratories during the fourth quarter worth approximately $14,252,000. Arizona State Retirement System boosted its holdings in shares of Silicon Laboratories by 1.8% in 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 grew 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 valued at $8,157,000 after buying an additional 13,363 shares during the period. Arkadios Wealth Advisors acquired a new stake in shares of Silicon Laboratories during the 4th quarter worth $237,000. Finally, Pacer Advisors Inc. increased 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 worth $601,000 after buying an additional 87 shares during the last quarter.

Silicon Laboratories Price Performance

Silicon Laboratories stock traded down $1.32 during midday trading on Monday, hitting $121.43. 265,583 shares of the company were exchanged, compared to its average volume of 337,770. The company has a market cap of $3.96 billion, a PE ratio of -20.44 and a beta of 1.36. Silicon Laboratories Inc. has a fifty-two week low of $82.82 and a fifty-two week high of $160.00. The company's fifty day moving average price is $108.85 and its 200-day moving average price is $121.77.

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 (EPS) for the quarter, beating analysts' consensus estimates of ($0.09) by $0.01. The company had revenue of $177.71 million for the quarter, compared to analyst estimates of $177.48 million. Silicon Laboratories had a negative net margin of 32.69% and a negative return on equity of 10.46%. The business's quarterly revenue was up 67.0% on a year-over-year basis. During the same quarter last year, the firm posted ($0.92) earnings per share. On average, analysts expect that Silicon Laboratories Inc. will post -0.97 EPS for the current fiscal year.

Insider Buying and Selling at Silicon Laboratories

In other news, SVP Robert J. Conrad sold 1,172 shares of the business's stock in a transaction dated Tuesday, May 13th. The shares were sold at an average price of $130.00, for a total value of $152,360.00. Following the completion of the sale, the senior vice president now owns 15,972 shares of the company's stock, valued at approximately $2,076,360. The trade was a 6.84% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 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 transaction of $57,029.70. Following the transaction, the director now directly owns 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 sold a total of 11,626 shares of company stock valued at $1,509,319 in the last ninety days. Insiders own 1.60% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on SLAB shares. Susquehanna boosted their price target on Silicon Laboratories from $100.00 to $110.00 and gave the company a "neutral" rating in a research report on Wednesday, May 14th. Wall Street Zen upgraded Silicon Laboratories from a "sell" rating to a "hold" rating in a report on Wednesday, May 14th. Benchmark reissued a "buy" rating and set a $160.00 target price on shares of Silicon Laboratories in a research report on Wednesday, May 14th. Barclays reduced their price target 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. Finally, Needham & Company LLC reissued a "buy" rating and issued a $150.00 price objective on shares of Silicon Laboratories in a research report on Wednesday, May 14th. Four analysts have rated the stock with a hold rating and five have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $126.50.

Silicon Laboratories Profile

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.