Rhumbline Advisers Boosts Position in Silicon Laboratories Inc. (NASDAQ:SLAB)

Rhumbline Advisers raised its holdings in shares of Silicon Laboratories Inc. (NASDAQ:SLAB - Free Report) by 3.5% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 104,407 shares of the semiconductor company's stock after acquiring an additional 3,550 shares during the period. Rhumbline Advisers owned approximately 0.32% of Silicon Laboratories worth $11,753,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Parallel Advisors LLC boosted its holdings in Silicon Laboratories by 143.7% in the first quarter. Parallel Advisors LLC now owns 463 shares of the semiconductor company's stock valued at $52,000 after purchasing an additional 273 shares during the last quarter. GAMMA Investing LLC raised its position in Silicon Laboratories by 22,374.1% during the first quarter. GAMMA Investing LLC now owns 126,754 shares of the semiconductor company's stock valued at $14,269,000 after acquiring an additional 126,190 shares in the last quarter. Wealth Enhancement Advisory Services LLC lifted its holdings in Silicon Laboratories by 9.7% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 2,334 shares of the semiconductor company's stock valued at $290,000 after acquiring an additional 206 shares during the period. Jefferies Financial Group Inc. purchased a new stake in Silicon Laboratories in the 4th quarter worth approximately $1,303,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in shares of Silicon Laboratories by 18.0% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 95,477 shares of the semiconductor company's stock worth $11,860,000 after purchasing an additional 14,552 shares during the period.

Silicon Laboratories Stock Down 1.8%

Shares of Silicon Laboratories stock traded down $2.54 on Wednesday, hitting $136.42. 361,437 shares of the company were exchanged, compared to its average volume of 340,496. The company has a 50-day moving average price of $110.69 and a 200 day moving average price of $123.46. The stock has a market capitalization of $4.44 billion, a price-to-earnings ratio of -22.97 and a beta of 1.42. Silicon Laboratories Inc. has a 1-year low of $82.82 and a 1-year high of $160.00.

Silicon Laboratories (NASDAQ:SLAB - Get Free Report) last issued its quarterly earnings data on Tuesday, May 13th. The semiconductor company reported ($0.08) earnings per share for the quarter, topping 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 company had revenue of $177.71 million during the quarter, compared to analyst estimates of $177.48 million. During the same period in the prior year, the business posted ($0.92) earnings per share. The firm's revenue for the quarter was up 67.0% compared to the same quarter last year. Research analysts forecast that Silicon Laboratories Inc. will post -0.97 EPS for the current year.

Insiders Place Their Bets

In other Silicon Laboratories news, Director Christy Wyatt sold 546 shares of the business'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 sale, the director now directly owns 8,492 shares in the company, valued at $886,989.40. This represents a 6.04% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Robert Matthew Johnson sold 5,879 shares of the firm's stock in a transaction that occurred 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 completion of the transaction, the chief executive officer now directly owns 73,688 shares of the company's stock, valued at approximately $9,667,865.60. The trade was a 7.39% 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 over the last 90 days. 1.60% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the stock. Wall Street Zen raised shares of Silicon Laboratories from a "sell" rating to a "hold" rating in a report on Wednesday, May 14th. Benchmark reaffirmed a "buy" rating and issued a $160.00 price target on shares of Silicon Laboratories in a report on Tuesday, May 27th. Needham & Company LLC restated a "buy" rating and issued a $150.00 price objective on shares of Silicon Laboratories in a research report on Wednesday, May 14th. Susquehanna lifted their price target 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. Finally, Stifel Nicolaus reduced their price objective on shares of Silicon Laboratories from $145.00 to $120.00 and set a "buy" rating for the company in a research report on Thursday, April 17th. Four analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $126.50.

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.