Segall Bryant & Hamill LLC Decreases Stock Holdings in Silicon Laboratories, Inc. (NASDAQ:SLAB)

Segall Bryant & Hamill LLC decreased its stake in Silicon Laboratories, Inc. (NASDAQ:SLAB - Free Report) by 27.1% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 64,024 shares of the semiconductor company's stock after selling 23,786 shares during the period. Segall Bryant & Hamill LLC owned 0.20% of Silicon Laboratories worth $7,207,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of SLAB. Capital Research Global Investors grew its holdings in Silicon Laboratories by 23.3% during the fourth quarter. Capital Research Global Investors now owns 2,131,920 shares of the semiconductor company's stock worth $264,827,000 after purchasing an additional 403,010 shares during the period. Norges Bank bought a new position in Silicon Laboratories during the fourth quarter worth about $34,622,000. Invesco Ltd. grew its holdings in Silicon Laboratories by 46.9% during the fourth quarter. Invesco Ltd. now owns 595,382 shares of the semiconductor company's stock worth $73,958,000 after purchasing an additional 190,085 shares during the period. GAMMA Investing LLC grew its holdings 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 worth $14,269,000 after purchasing an additional 126,190 shares during the period. Finally, Raymond James Financial Inc. bought a new position in Silicon Laboratories during the fourth quarter worth about $14,252,000.

Silicon Laboratories Trading Down 2.2%

Shares of SLAB stock traded down $3.23 during mid-day trading on Monday, reaching $146.40. 361,189 shares of the company's stock traded hands, compared to its average volume of 354,247. Silicon Laboratories, Inc. has a 12 month low of $82.82 and a 12 month high of $160.00. The firm has a 50 day moving average price of $136.58 and a two-hundred day moving average price of $127.93.

Silicon Laboratories (NASDAQ:SLAB - Get Free Report) last issued 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. Silicon Laboratories had a negative net margin of 25.16% and a negative return on equity of 8.80%. The firm had revenue of $177.71 million during the quarter, compared to analyst estimates of $177.48 million. During the same quarter in the prior year, the business earned ($0.92) earnings per share. Silicon Laboratories's revenue for the quarter was up 67.0% on a year-over-year basis. As a group, equities analysts predict that Silicon Laboratories, Inc. will post -0.97 earnings per share for the current year.

Insider Transactions at Silicon Laboratories

In other Silicon Laboratories news, SVP Robert J. Conrad sold 4,029 shares of the firm's stock in a transaction dated Friday, May 16th. The shares were sold at an average price of $131.20, for a total transaction of $528,604.80. Following the transaction, the senior vice president owned 25,380 shares of the company's stock, valued at approximately $3,329,856. This trade represents a 13.70% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Christy Wyatt sold 546 shares of the firm'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 directly owned 8,492 shares in the company, valued at $886,989.40. This trade represents a 6.04% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 11,626 shares of company stock worth $1,509,319. 1.60% of the stock is currently owned by insiders.

Analyst Ratings Changes

SLAB has been the subject of a number of analyst reports. Wall Street Zen upgraded shares of Silicon Laboratories from a "sell" rating to a "hold" rating in a research report on Wednesday, May 14th. Susquehanna lifted their price objective 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 lifted their price objective on shares of Silicon Laboratories from $144.00 to $160.00 and gave the company a "buy" rating in a research note on Friday. Benchmark reissued a "buy" rating and issued a $160.00 price objective on shares of Silicon Laboratories in a research note on Tuesday, May 27th. Finally, KeyCorp lifted their price objective on shares of Silicon Laboratories from $160.00 to $180.00 and gave the company an "overweight" rating in a research note on Tuesday, July 8th. Four equities research 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, Silicon Laboratories has a consensus rating of "Moderate Buy" and an average price target of $134.00.

Silicon Laboratories 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.