Royce & Associates LP Acquires 6,507 Shares of Silicon Laboratories, Inc. (NASDAQ:SLAB)

Royce & Associates LP grew its position in Silicon Laboratories, Inc. (NASDAQ:SLAB - Free Report) by 26.6% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 31,007 shares of the semiconductor company's stock after purchasing an additional 6,507 shares during the period. Royce & Associates LP owned about 0.10% of Silicon Laboratories worth $3,490,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of the company. Coldstream Capital Management Inc. raised its holdings in Silicon Laboratories by 2.8% in the fourth quarter. Coldstream Capital Management Inc. now owns 2,473 shares of the semiconductor company's stock worth $307,000 after purchasing an additional 68 shares during the period. Oregon Public Employees Retirement Fund raised its holdings in Silicon Laboratories by 1.5% in the first quarter. Oregon Public Employees Retirement Fund now owns 6,668 shares of the semiconductor company's stock worth $751,000 after purchasing an additional 100 shares during the period. State of Michigan Retirement System raised its holdings in Silicon Laboratories by 1.3% in the first quarter. State of Michigan Retirement System now owns 7,797 shares of the semiconductor company's stock worth $878,000 after purchasing an additional 100 shares during the period. Louisiana State Employees Retirement System raised its holdings in Silicon Laboratories by 1.1% in the first quarter. Louisiana State Employees Retirement System now owns 9,100 shares of the semiconductor company's stock worth $1,024,000 after purchasing an additional 100 shares during the period. Finally, Securian Asset Management Inc. raised its holdings in Silicon Laboratories by 4.2% in the first quarter. Securian Asset Management Inc. now owns 2,498 shares of the semiconductor company's stock worth $281,000 after purchasing an additional 100 shares during the period.

Silicon Laboratories Stock Performance

Shares of Silicon Laboratories stock opened at $134.50 on Monday. The business's 50 day simple moving average is $137.41 and its 200 day simple moving average is $128.31. Silicon Laboratories, Inc. has a 52-week low of $82.82 and a 52-week high of $160.00. The firm has a market cap of $4.38 billion, a PE ratio of -26.32 and a beta of 1.47.

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 analysts' consensus estimates of ($0.09) by $0.01. Silicon Laboratories had a negative return on equity of 8.80% and a negative net margin of 25.16%. The business had revenue of $177.71 million for the quarter, compared to analyst estimates of $177.48 million. During the same quarter last year, the firm earned ($0.92) EPS. Silicon Laboratories's revenue for the quarter was up 67.0% compared to the same quarter last year. As a group, equities research analysts predict that Silicon Laboratories, Inc. will post -0.97 EPS for the current year.

Insider Buying and Selling at Silicon Laboratories

In other Silicon Laboratories news, CEO Robert Matthew Johnson sold 5,879 shares of Silicon Laboratories stock in a transaction on Friday, May 16th. The shares were sold at an average price of $131.20, for a total value of $771,324.80. Following the sale, the chief executive officer directly owned 73,688 shares in the company, valued at approximately $9,667,865.60. The trade was a 7.39% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Robert J. Conrad sold 4,029 shares of Silicon Laboratories stock in a transaction on Friday, May 16th. The shares were sold at an average price of $131.20, for a total transaction of $528,604.80. Following the completion of the sale, the senior vice president owned 25,380 shares in the company, valued at $3,329,856. The trade was a 13.70% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 11,626 shares of company stock worth $1,509,319. Insiders own 1.60% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms have weighed in on SLAB. Susquehanna increased their target price on shares of Silicon Laboratories from $110.00 to $150.00 and gave the stock a "neutral" rating in a report on Tuesday, July 22nd. Barclays cut 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. Needham & Company LLC reiterated a "buy" rating and issued a $150.00 target price on shares of Silicon Laboratories in a report on Wednesday, May 14th. Benchmark reaffirmed a "buy" rating and issued a $160.00 price objective on shares of Silicon Laboratories in a research report on Tuesday, May 27th. Finally, Stifel Nicolaus upped their target price on shares of Silicon Laboratories from $144.00 to $160.00 and gave the stock a "buy" rating in a research note on Friday, July 18th. Four research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, Silicon Laboratories presently has a consensus rating of "Moderate Buy" and a consensus target price of $139.00.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.