Pier 88 Investment Partners LLC Buys 2,850 Shares of Silicon Laboratories, Inc. (NASDAQ:SLAB)

Pier 88 Investment Partners LLC grew its position in Silicon Laboratories, Inc. (NASDAQ:SLAB - Free Report) by 55.1% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 8,022 shares of the semiconductor company's stock after purchasing an additional 2,850 shares during the period. Pier 88 Investment Partners LLC's holdings in Silicon Laboratories were worth $903,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. UMB Bank n.a. raised its holdings in Silicon Laboratories by 111.3% during the first quarter. UMB Bank n.a. now owns 336 shares of the semiconductor company's stock worth $38,000 after acquiring an additional 177 shares in the last quarter. Parallel Advisors LLC raised its holdings in Silicon Laboratories by 143.7% during the first quarter. Parallel Advisors LLC now owns 463 shares of the semiconductor company's stock worth $52,000 after acquiring an additional 273 shares in the last quarter. Larson Financial Group LLC bought a new stake in Silicon Laboratories during the first quarter worth about $55,000. Headlands Technologies LLC bought a new stake in Silicon Laboratories during the fourth quarter worth about $70,000. Finally, TD Private Client Wealth LLC raised its holdings in Silicon Laboratories by 53.6% during the first quarter. TD Private Client Wealth LLC now owns 914 shares of the semiconductor company's stock worth $103,000 after acquiring an additional 319 shares in the last quarter.

Insider Buying and Selling

In other Silicon Laboratories news, CEO Robert Matthew Johnson sold 5,879 shares of the firm's stock in a transaction on Friday, May 16th. The stock was sold at an average price of $131.20, for a total transaction of $771,324.80. Following the transaction, the chief executive officer owned 73,688 shares in the company, valued at $9,667,865.60. This trade represents a 7.39% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Robert J. Conrad sold 4,029 shares of the firm's stock in a transaction on Friday, May 16th. The stock was sold at an average price of $131.20, for a total value of $528,604.80. Following the transaction, the senior vice president owned 25,380 shares in the company, valued at approximately $3,329,856. This trade represents a 13.70% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 11,626 shares of company stock valued at $1,509,319 over the last 90 days. 1.60% of the stock is owned by corporate insiders.

Silicon Laboratories Stock Performance

Shares of NASDAQ SLAB traded down $1.56 during trading hours on Friday, reaching $134.30. 171,583 shares of the stock were exchanged, compared to its average volume of 408,293. The firm has a market capitalization of $4.37 billion, a price-to-earnings ratio of -26.28 and a beta of 1.47. Silicon Laboratories, Inc. has a 52 week low of $82.82 and a 52 week high of $160.00. The stock's fifty day simple moving average is $137.35 and its 200 day simple moving average is $128.27.

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

Analysts Set New Price Targets

Several analysts recently issued reports on the company. Needham & Company LLC reiterated a "buy" rating and set a $150.00 target price on shares of Silicon Laboratories in a report on Wednesday, May 14th. KeyCorp upped their price objective on Silicon Laboratories from $160.00 to $180.00 and gave the company an "overweight" rating in a research note on Tuesday, July 8th. Stifel Nicolaus upped their price objective on Silicon Laboratories from $144.00 to $160.00 and gave the company a "buy" rating in a research note on Friday, July 18th. Wall Street Zen upgraded Silicon Laboratories from a "sell" rating to a "hold" rating in a research note on Wednesday, May 14th. Finally, Barclays dropped their price objective on Silicon Laboratories from $120.00 to $80.00 and set an "equal weight" rating on the stock in a research note on Tuesday, April 22nd. Four analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $139.00.

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.