Silicon Laboratories Inc. (NASDAQ:SLAB) Shares Acquired by Rhumbline Advisers

Rhumbline Advisers increased its stake in shares of Silicon Laboratories Inc. (NASDAQ:SLAB - Free Report) by 3.5% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 104,407 shares of the semiconductor company's stock after buying an additional 3,550 shares during the period. Rhumbline Advisers owned 0.32% of Silicon Laboratories worth $11,753,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also bought and sold shares of the company. Coldstream Capital Management Inc. boosted its stake in shares of Silicon Laboratories by 2.8% in the 4th quarter. Coldstream Capital Management Inc. now owns 2,473 shares of the semiconductor company's stock valued at $307,000 after purchasing an additional 68 shares in the last quarter. Jones Financial Companies Lllp lifted its stake in 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 purchasing an additional 69 shares during the last quarter. Louisiana State Employees Retirement System boosted its position in Silicon Laboratories by 1.1% in the fourth quarter. Louisiana State Employees Retirement System now owns 9,000 shares of the semiconductor company's stock valued at $1,118,000 after buying an additional 100 shares in the last quarter. Oppenheimer Asset Management Inc. grew its stake in shares of Silicon Laboratories by 1.4% during the fourth quarter. Oppenheimer Asset Management Inc. now owns 7,169 shares of the semiconductor company's stock worth $891,000 after buying an additional 102 shares during the last quarter. Finally, Truist Financial Corp grew its stake in shares of Silicon Laboratories by 0.7% during the fourth quarter. Truist Financial Corp now owns 21,699 shares of the semiconductor company's stock worth $2,695,000 after buying an additional 151 shares during the last quarter.

Silicon Laboratories Stock Performance

Shares of Silicon Laboratories stock traded down $3.26 on Friday, hitting $137.87. 542,887 shares of the company traded hands, compared to its average volume of 341,251. Silicon Laboratories Inc. has a 52 week low of $82.82 and a 52 week high of $160.00. The business has a 50-day simple moving average of $112.58 and a 200 day simple moving average of $123.75. The stock has a market capitalization of $4.49 billion, a P/E ratio of -23.21 and a beta of 1.42.

Silicon Laboratories (NASDAQ:SLAB - Get Free Report) last announced its earnings results on Tuesday, May 13th. The semiconductor company reported ($0.08) earnings per share (EPS) for the quarter, beating the consensus estimate 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 business had revenue of $177.71 million during the quarter, compared to analyst estimates of $177.48 million. During the same quarter in the previous year, the business earned ($0.92) earnings per share. The company's revenue for the quarter was up 67.0% compared to the same quarter last year. Research analysts expect that Silicon Laboratories Inc. will post -0.97 earnings per share for the current year.

Wall Street Analysts Forecast Growth

SLAB has been the topic of a number of research reports. Susquehanna boosted their price objective on Silicon Laboratories from $100.00 to $110.00 and gave the stock a "neutral" rating in a research report on Wednesday, May 14th. Stifel Nicolaus cut their price target on Silicon Laboratories from $145.00 to $120.00 and set a "buy" rating on the stock in a research note on Thursday, April 17th. Needham & Company LLC reaffirmed a "buy" rating and issued a $150.00 price objective on shares of Silicon Laboratories in a research note on Wednesday, May 14th. Benchmark reaffirmed a "buy" rating and set a $160.00 price target on shares of Silicon Laboratories in a research note on Tuesday, May 27th. Finally, Barclays reduced their price target on 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. Four research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company's stock. According to MarketBeat, Silicon Laboratories presently has an average rating of "Moderate Buy" and a consensus price target of $126.50.

Insider Activity at Silicon Laboratories

In other Silicon Laboratories news, Director Christy Wyatt sold 546 shares of the stock in a transaction that occurred on Tuesday, May 6th. The stock was sold at an average price of $104.45, for a total transaction of $57,029.70. Following the completion of the transaction, the director now owns 8,492 shares of the company's stock, valued at $886,989.40. This represents a 6.04% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Robert J. Conrad sold 4,029 shares of Silicon Laboratories stock in a transaction dated Friday, May 16th. The stock was sold at an average price of $131.20, for a total transaction of $528,604.80. Following the transaction, the senior vice president now directly owns 25,380 shares in the company, valued at $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 worth $1,509,319 over the last quarter. Insiders own 1.60% of the company's stock.

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.