ProShare Advisors LLC Has $1.86 Million Stock Position in Silicon Laboratories Inc. (NASDAQ:SLAB)

ProShare Advisors LLC lifted its stake in Silicon Laboratories Inc. (NASDAQ:SLAB - Free Report) by 26.2% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 14,958 shares of the semiconductor company's stock after acquiring 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 reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Jones Financial Companies Lllp grew its stake in shares of Silicon Laboratories by 44.5% in the fourth quarter. Jones Financial Companies Lllp now owns 224 shares of the semiconductor company's stock worth $28,000 after acquiring an additional 69 shares during the last quarter. Headlands Technologies LLC acquired a new stake in shares of Silicon Laboratories in the fourth quarter worth $70,000. Venturi Wealth Management LLC lifted its position in Silicon Laboratories by 207.0% in the fourth quarter. Venturi Wealth Management LLC now owns 786 shares of the semiconductor company's stock worth $98,000 after purchasing an additional 530 shares during the period. Asset Management One Co. Ltd. bought a new position in Silicon Laboratories in the fourth quarter worth $117,000. Finally, KBC Group NV lifted its position in Silicon Laboratories by 42.1% in the fourth quarter. KBC Group NV now owns 1,279 shares of the semiconductor company's stock worth $159,000 after purchasing an additional 379 shares during the period.

Analyst Upgrades and Downgrades

Several brokerages recently commented on SLAB. Needham & Company LLC reaffirmed a "buy" rating and issued a $150.00 target price on shares of Silicon Laboratories in a research report on Wednesday, May 14th. KeyCorp boosted their target price on shares of Silicon Laboratories from $115.00 to $160.00 and gave the company an "overweight" rating in a research note on Wednesday, January 22nd. Susquehanna boosted 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 reduced their target price on shares of Silicon Laboratories from $145.00 to $120.00 and set a "buy" rating on the stock in a research note on Thursday, April 17th. Finally, Barclays reduced 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 research note 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 stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $126.50.

Insider Buying and Selling

In related news, Director Christy Wyatt sold 546 shares of the company's stock in a transaction dated Tuesday, May 6th. The shares were sold at an average price of $104.45, for a total transaction of $57,029.70. Following the transaction, the director now owns 8,492 shares in the company, valued at $886,989.40. This represents a 6.04% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Robert J. Conrad sold 1,172 shares of the company's stock in a transaction dated Tuesday, May 13th. The stock was sold at an average price of $130.00, for a total transaction of $152,360.00. Following the transaction, the senior vice president now owns 15,972 shares in the company, valued at approximately $2,076,360. This trade represents a 6.84% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 11,626 shares of company stock worth $1,509,319 in the last 90 days. Corporate insiders own 1.60% of the company's stock.

Silicon Laboratories Stock Up 0.6%

Shares of NASDAQ SLAB opened at $128.50 on Wednesday. The firm's 50-day simple moving average is $109.00 and its 200 day simple moving average is $121.41. The company has a market cap of $4.19 billion, a price-to-earnings ratio of -21.63 and a beta of 1.36. Silicon Laboratories Inc. has a 12-month low of $82.82 and a 12-month high of $160.00.

Silicon Laboratories (NASDAQ:SLAB - Get Free Report) last issued its quarterly earnings results on Tuesday, May 13th. The semiconductor company reported ($0.08) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.09) by $0.01. The business 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 firm's quarterly revenue was up 67.0% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.92) EPS. On average, equities analysts expect that Silicon Laboratories Inc. will post -0.97 earnings per share 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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