SG Americas Securities LLC Sells 2,217 Shares of Silicon Laboratories Inc. (NASDAQ:SLAB)

SG Americas Securities LLC reduced its holdings in shares of Silicon Laboratories Inc. (NASDAQ:SLAB - Free Report) by 9.3% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 21,574 shares of the semiconductor company's stock after selling 2,217 shares during the quarter. SG Americas Securities LLC owned 0.07% of Silicon Laboratories worth $2,429,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of SLAB. Capital Research Global Investors increased its stake in shares of Silicon Laboratories by 23.3% in the fourth quarter. Capital Research Global Investors now owns 2,131,920 shares of the semiconductor company's stock valued at $264,827,000 after buying an additional 403,010 shares during the period. Norges Bank bought a new stake in shares of Silicon Laboratories during the 4th quarter valued at about $34,622,000. Invesco Ltd. boosted its position in shares of Silicon Laboratories by 46.9% during the 4th quarter. Invesco Ltd. now owns 595,382 shares of the semiconductor company's stock valued at $73,958,000 after purchasing an additional 190,085 shares in the last quarter. GAMMA Investing LLC boosted its holdings in Silicon Laboratories by 22,374.1% in the first quarter. GAMMA Investing LLC now owns 126,754 shares of the semiconductor company's stock worth $14,269,000 after acquiring an additional 126,190 shares in the last quarter. Finally, Raymond James Financial Inc. acquired a new position in shares of Silicon Laboratories during the fourth quarter worth approximately $14,252,000.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on SLAB shares. Susquehanna increased their price target on Silicon Laboratories from $100.00 to $110.00 and gave the company a "neutral" rating in a research report on Wednesday, May 14th. Stifel Nicolaus cut their target price on Silicon Laboratories from $145.00 to $120.00 and set a "buy" rating for the company in a research note on Thursday, April 17th. Needham & Company LLC restated a "buy" rating and issued a $150.00 target price on shares of Silicon Laboratories in a research note on Wednesday, May 14th. Benchmark reiterated a "buy" rating and set a $160.00 price target on shares of Silicon Laboratories in a research report on Tuesday, May 27th. Finally, Wall Street Zen upgraded Silicon Laboratories from a "sell" rating to a "hold" rating 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 data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $126.50.

Insider Buying and Selling

In other news, Director Christy Wyatt sold 546 shares of the business's stock in a transaction 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 completion of the transaction, the director now directly owns 8,492 shares of the company's stock, valued at approximately $886,989.40. The trade was a 6.04% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Robert Matthew Johnson sold 5,879 shares of the business's stock in a transaction dated 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 now owns 73,688 shares in the company, 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. In the last three months, insiders sold 11,626 shares of company stock valued at $1,509,319. Insiders own 1.60% of the company's stock.

Silicon Laboratories Stock Down 2.3%

NASDAQ SLAB opened at $137.87 on Friday. The stock's 50-day moving average price is $113.61 and its 200-day moving average price is $124.06. Silicon Laboratories Inc. has a 52 week low of $82.82 and a 52 week high of $160.00. The company 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 released its earnings results on Tuesday, May 13th. The semiconductor company reported ($0.08) earnings per share (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 10.46% and a negative net margin of 32.69%. The firm's revenue was up 67.0% on a year-over-year basis. During the same quarter last year, the business posted ($0.92) earnings per share. Research analysts anticipate that Silicon Laboratories Inc. will post -0.97 EPS for the current year.

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.

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