MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. Sells 1,948 Shares of Silicon Laboratories Inc. (NASDAQ:SLAB)

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. cut its stake in Silicon Laboratories Inc. (NASDAQ:SLAB - Free Report) by 3.6% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 51,534 shares of the semiconductor company's stock after selling 1,948 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. owned about 0.16% of Silicon Laboratories worth $6,402,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of SLAB. Capital Research Global Investors raised its holdings in shares of Silicon Laboratories by 23.3% in the 4th quarter. Capital Research Global Investors now owns 2,131,920 shares of the semiconductor company's stock worth $264,827,000 after buying an additional 403,010 shares in the last quarter. Norges Bank acquired a new position in shares of Silicon Laboratories in the 4th quarter worth approximately $34,622,000. Invesco Ltd. raised its holdings in shares of Silicon Laboratories by 46.9% in the 4th quarter. Invesco Ltd. now owns 595,382 shares of the semiconductor company's stock worth $73,958,000 after buying an additional 190,085 shares in the last quarter. Raymond James Financial Inc. acquired a new stake in Silicon Laboratories during the 4th quarter valued at $14,252,000. Finally, Alliancebernstein L.P. raised its position in Silicon Laboratories by 58.2% in the 4th quarter. Alliancebernstein L.P. now owns 240,321 shares of the semiconductor company's stock valued at $29,853,000 after purchasing an additional 88,438 shares during the last quarter.

Insider Transactions at Silicon Laboratories

In other Silicon Laboratories news, CEO Robert Matthew Johnson sold 5,879 shares of the business's stock in a transaction dated Friday, May 16th. The stock was sold at an average price of $131.20, for a total value of $771,324.80. Following the completion of the transaction, the chief executive officer now directly owns 73,688 shares of the company's stock, valued at approximately $9,667,865.60. The trade was a 7.39% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Robert J. Conrad sold 4,029 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 $528,604.80. Following the completion of the transaction, the senior vice president now directly owns 25,380 shares of the company's stock, valued at approximately $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. Insiders sold a total of 11,626 shares of company stock worth $1,509,319 over the last 90 days. 1.60% of the stock is owned by insiders.

Silicon Laboratories Price Performance

Shares of SLAB stock traded down $1.32 on Friday, reaching $121.43. 265,583 shares of the stock were exchanged, compared to its average volume of 337,153. The stock has a market cap of $3.96 billion, a PE ratio of -20.44 and a beta of 1.36. Silicon Laboratories Inc. has a one year low of $82.82 and a one year high of $160.00. The stock has a 50 day moving average price of $108.85 and a 200 day moving average price of $121.68.

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 for the quarter, topping analysts' consensus estimates of ($0.09) by $0.01. The company had revenue of $177.71 million during the quarter, compared to the consensus estimate 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 quarterly revenue was up 67.0% on a year-over-year basis. During the same quarter in the previous year, the company posted ($0.92) earnings per share. On average, research analysts expect that Silicon Laboratories Inc. will post -0.97 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities analysts have issued reports on SLAB shares. Susquehanna lifted their price objective on Silicon Laboratories from $100.00 to $110.00 and gave the company a "neutral" rating in a research report on Wednesday, May 14th. Barclays cut their price objective on Silicon Laboratories from $120.00 to $80.00 and set an "equal weight" rating for the company in a research report on Tuesday, April 22nd. Stifel Nicolaus cut their price objective on Silicon Laboratories from $145.00 to $120.00 and set a "buy" rating for the company in a research report on Thursday, April 17th. Needham & Company LLC reiterated a "buy" rating and issued a $150.00 price objective on shares of Silicon Laboratories in a research report on Wednesday, May 14th. Finally, Benchmark reiterated a "buy" rating and issued a $160.00 price objective on shares of Silicon Laboratories in a research report on Wednesday, May 14th. Four investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $126.50.

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.