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

Segall Bryant & Hamill LLC lessened its holdings in Silicon Laboratories, Inc. (NASDAQ:SLAB - Free Report) by 27.1% during the first quarter, according to its most recent disclosure with the 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 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in SLAB. Larson Financial Group LLC bought a new position in shares of Silicon Laboratories during the first quarter valued at about $55,000. Edgestream Partners L.P. purchased a new stake in Silicon Laboratories in the first quarter worth about $325,000. Securian Asset Management Inc. lifted its holdings in shares of Silicon Laboratories by 4.2% during the first quarter. Securian Asset Management Inc. now owns 2,498 shares of the semiconductor company's stock valued at $281,000 after purchasing an additional 100 shares during the last quarter. Louisiana State Employees Retirement System lifted its holdings in shares of Silicon Laboratories by 1.1% during the first quarter. Louisiana State Employees Retirement System now owns 9,100 shares of the semiconductor company's stock valued at $1,024,000 after purchasing an additional 100 shares during the last quarter. Finally, State of Michigan Retirement System lifted its holdings in shares of Silicon Laboratories by 1.3% during the first quarter. State of Michigan Retirement System now owns 7,797 shares of the semiconductor company's stock valued at $878,000 after purchasing an additional 100 shares during the last quarter.

Insider Activity

In related news, Director Christy Wyatt sold 546 shares of the company's stock in a transaction that occurred on Tuesday, May 6th. The stock was sold at an average price of $104.45, for a total value of $57,029.70. Following the sale, the director owned 8,492 shares in the company, valued at $886,989.40. This represents a 6.04% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at 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 owned 25,380 shares of the company's stock, valued at approximately $3,329,856. The trade was a 13.70% 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 valued at $1,509,319 over the last quarter. Corporate insiders own 1.60% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on SLAB. KeyCorp boosted their price objective on shares of Silicon Laboratories from $160.00 to $180.00 and gave the stock an "overweight" rating in a report on Tuesday, July 8th. Susquehanna lifted their target price on shares of 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 target price 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. Wall Street Zen raised shares of Silicon Laboratories from a "sell" rating to a "hold" rating in a research report on Wednesday, May 14th. Finally, 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. Four equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat, Silicon Laboratories has an average rating of "Moderate Buy" and a consensus target price of $129.00.

Silicon Laboratories Price Performance

NASDAQ:SLAB opened at $145.39 on Friday. The company's 50-day moving average is $135.93 and its two-hundred day moving average is $127.71. Silicon Laboratories, Inc. has a 1-year low of $82.82 and a 1-year high of $160.00. The firm has a market capitalization of $4.74 billion, a price-to-earnings ratio of -28.45 and a beta of 1.47.

Silicon Laboratories (NASDAQ:SLAB - Get Free Report) last released its earnings results on Tuesday, May 13th. The semiconductor company reported ($0.08) EPS for the quarter, topping the consensus estimate of ($0.09) by $0.01. The firm had revenue of $177.71 million during the quarter, compared to analysts' expectations of $177.48 million. Silicon Laboratories had a negative return on equity of 8.80% and a negative net margin of 25.16%. Silicon Laboratories's revenue for the quarter was up 67.0% on a year-over-year basis. During the same period in the previous year, the firm posted ($0.92) EPS. As a group, equities analysts anticipate that Silicon Laboratories, Inc. will post -0.97 earnings per share for the current fiscal year.

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.

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