Principal Financial Group Inc. Acquires 54,463 Shares of Silicon Laboratories, Inc. (NASDAQ:SLAB)

Principal Financial Group Inc. increased its holdings in shares of Silicon Laboratories, Inc. (NASDAQ:SLAB - Free Report) by 72.2% during the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 129,911 shares of the semiconductor company's stock after purchasing an additional 54,463 shares during the period. Principal Financial Group Inc. owned 0.40% of Silicon Laboratories worth $14,624,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Jones Financial Companies Lllp increased its holdings in shares of Silicon Laboratories by 44.5% in the 4th quarter. Jones Financial Companies Lllp now owns 224 shares of the semiconductor company's stock valued at $28,000 after acquiring an additional 69 shares during the period. UMB Bank n.a. increased its holdings in shares of Silicon Laboratories by 111.3% in the 1st quarter. UMB Bank n.a. now owns 336 shares of the semiconductor company's stock valued at $38,000 after acquiring an additional 177 shares during the period. Parallel Advisors LLC increased its holdings in shares of Silicon Laboratories by 143.7% in the 1st quarter. Parallel Advisors LLC now owns 463 shares of the semiconductor company's stock valued at $52,000 after acquiring an additional 273 shares during the period. Headlands Technologies LLC purchased a new position in shares of Silicon Laboratories in the 4th quarter valued at $70,000. Finally, GAMMA Investing LLC increased its holdings in shares of Silicon Laboratories by 99.6% in the 1st quarter. GAMMA Investing LLC now owns 1,126 shares of the semiconductor company's stock valued at $127,000 after acquiring an additional 562 shares during the period.

Analyst Ratings Changes

SLAB has been the topic of a number of analyst reports. KeyCorp lifted their price target on Silicon Laboratories from $160.00 to $180.00 and gave the company an "overweight" rating in a report on Tuesday. Susquehanna raised their target price on shares of Silicon Laboratories from $100.00 to $110.00 and gave the company a "neutral" rating in a research note on Wednesday, May 14th. Stifel Nicolaus lowered their target price on shares of Silicon Laboratories from $145.00 to $120.00 and set a "buy" rating for the company in a research note on Thursday, April 17th. Needham & Company LLC restated a "buy" rating and issued a $150.00 target price on shares of Silicon Laboratories in a research note on Wednesday, May 14th. Finally, Wall Street Zen upgraded shares of Silicon Laboratories from a "sell" rating to a "hold" rating in a research note on Wednesday, May 14th. Four equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $129.00.

Insider Transactions at Silicon Laboratories

In related news, Director Christy Wyatt sold 546 shares of the business's stock in a transaction on Tuesday, May 6th. The shares were sold at an average price of $104.45, for a total transaction of $57,029.70. Following the completion of the transaction, the director directly owned 8,492 shares in the company, valued at $886,989.40. The trade was a 6.04% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Robert Matthew Johnson sold 5,879 shares of the business's stock in a transaction on Friday, May 16th. The shares were sold at an average price of $131.20, for a total transaction of $771,324.80. Following the transaction, the chief executive officer owned 73,688 shares of the company's stock, valued at $9,667,865.60. This represents a 7.39% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 11,626 shares of company stock worth $1,509,319. Company insiders own 1.60% of the company's stock.

Silicon Laboratories Trading Down 0.2%

NASDAQ:SLAB opened at $142.51 on Friday. Silicon Laboratories, Inc. has a 12 month low of $82.82 and a 12 month high of $160.00. The firm has a fifty day simple moving average of $133.32 and a 200-day simple moving average of $127.35. The company has a market capitalization of $4.64 billion, a P/E ratio of -27.89 and a beta of 1.47.

Silicon Laboratories (NASDAQ:SLAB - Get Free Report) last posted its quarterly earnings data on Tuesday, May 13th. The semiconductor company reported ($0.08) EPS for the quarter, topping the consensus estimate of ($0.09) by $0.01. Silicon Laboratories had a negative net margin of 25.16% and a negative return on equity of 8.80%. The business had revenue of $177.71 million during the quarter, compared to the consensus estimate of $177.48 million. During the same period in the previous year, the firm posted ($0.92) earnings per share. The business's revenue for the quarter was up 67.0% compared to the same quarter last year. Equities analysts forecast that Silicon Laboratories, Inc. will post -0.97 EPS for the current year.

Silicon Laboratories Company 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.

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