ProShare Advisors LLC Raises Position in Silicon Laboratories Inc. (NASDAQ:SLAB)

ProShare Advisors LLC raised its position in shares of Silicon Laboratories Inc. (NASDAQ:SLAB - Free Report) by 26.2% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 14,958 shares of the semiconductor company's stock after purchasing an additional 3,103 shares during the period. ProShare Advisors LLC's holdings in Silicon Laboratories were worth $1,858,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the business. FMR LLC lifted its stake in Silicon Laboratories by 0.5% during the fourth quarter. FMR LLC now owns 4,867,203 shares of the semiconductor company's stock valued at $604,604,000 after buying an additional 23,833 shares in the last quarter. Vanguard Group Inc. lifted its stake in shares of Silicon Laboratories by 1.9% in the fourth quarter. Vanguard Group Inc. now owns 3,959,580 shares of the semiconductor company's stock worth $491,859,000 after buying an additional 71,942 shares during the last quarter. Capital Research Global Investors grew its position in shares of Silicon Laboratories by 23.3% in the fourth quarter. Capital Research Global Investors now owns 2,131,920 shares of the semiconductor company's stock valued at $264,827,000 after purchasing an additional 403,010 shares during the last quarter. GW&K Investment Management LLC increased its position in Silicon Laboratories by 5.6% in the 4th quarter. GW&K Investment Management LLC now owns 682,045 shares of the semiconductor company's stock worth $84,723,000 after buying an additional 36,330 shares during the period. Finally, Federated Hermes Inc. boosted its holdings in Silicon Laboratories by 4.1% in the 4th quarter. Federated Hermes Inc. now owns 638,464 shares of the semiconductor company's stock valued at $79,310,000 after purchasing an additional 25,178 shares during the period.

Silicon Laboratories Trading Down 1.1%

Shares of NASDAQ:SLAB traded down $1.32 during trading on Monday, reaching $121.43. The company had a trading volume of 265,583 shares, compared to its average volume of 337,770. Silicon Laboratories Inc. has a 12 month low of $82.82 and a 12 month high of $160.00. The stock has a market capitalization of $3.96 billion, a P/E ratio of -20.44 and a beta of 1.36. The company has a fifty day moving average of $108.85 and a two-hundred day moving average of $121.77.

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, topping analysts' consensus estimates of ($0.09) by $0.01. The firm had revenue of $177.71 million for the quarter, compared to the consensus estimate of $177.48 million. Silicon Laboratories had a negative net margin of 32.69% and a negative return on equity of 10.46%. The company's revenue was up 67.0% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.92) EPS. As a group, equities research analysts predict that Silicon Laboratories Inc. will post -0.97 earnings per share for the current year.

Insider Activity at Silicon Laboratories

In other news, SVP Robert J. Conrad sold 4,029 shares of the business's stock in a transaction dated Friday, May 16th. The shares were 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 $3,329,856. The trade was a 13.70% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Robert Matthew Johnson sold 5,879 shares of the firm's stock in a transaction dated Friday, May 16th. The stock was sold at an average price of $131.20, for a total transaction of $771,324.80. Following the completion of the sale, the chief executive officer now owns 73,688 shares of the company's stock, valued at $9,667,865.60. This trade represents a 7.39% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 11,626 shares of company stock worth $1,509,319. Corporate insiders own 1.60% of the company's stock.

Analysts Set New Price Targets

Several research analysts recently issued reports on the stock. Benchmark reissued a "buy" rating and issued a $160.00 price target on shares of Silicon Laboratories in a research report on Wednesday, May 14th. Stifel Nicolaus decreased their target price on Silicon Laboratories from $145.00 to $120.00 and set a "buy" rating for the company in a research report on Thursday, April 17th. Wall Street Zen upgraded Silicon Laboratories from a "sell" rating to a "hold" rating in a report on Wednesday, May 14th. Susquehanna upped their price target on Silicon Laboratories from $100.00 to $110.00 and gave the stock a "neutral" rating in a research report on Wednesday, May 14th. Finally, Barclays lowered 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 report on Tuesday, April 22nd. Four 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 currently has an average rating of "Moderate Buy" and an average target price of $126.50.

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.