Silicon Laboratories, Inc. $SLAB Shares Sold by Royce & Associates LP

Key Points

• Royce & Associates LP cut its Silicon Laboratories stake by 26.9% in the fourth quarter, selling 8,002 shares and leaving it with 21,755 shares worth about $2.84 million.
• CEO Robert Matthew Johnson also sold shares, disposing of 8,024 shares on May 18 for roughly $1.74 million, which reduced his holdings by 9.06%.
• Analysts remain cautious on SLAB: the stock has a consensus Hold rating with an average target price of $171.43, even though the company recently beat quarterly EPS estimates and revenue rose 20.1% year over year.

Royce & Associates LP reduced its position in shares of Silicon Laboratories, Inc. (NASDAQ:SLAB - Free Report) by 26.9% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 21,755 shares of the semiconductor company's stock after selling 8,002 shares during the period. Royce & Associates LP owned about 0.07% of Silicon Laboratories worth $2,843,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Vanguard Group Inc. raised its position in shares of Silicon Laboratories by 3.1% during the 4th quarter. Vanguard Group Inc. now owns 3,992,407 shares of the semiconductor company's stock valued at $521,808,000 after acquiring an additional 121,432 shares in the last quarter. State Street Corp raised its position in shares of Silicon Laboratories by 0.5% during the 2nd quarter. State Street Corp now owns 1,517,813 shares of the semiconductor company's stock valued at $223,665,000 after acquiring an additional 7,139 shares in the last quarter. Invesco Ltd. raised its position in shares of Silicon Laboratories by 3.5% during the 3rd quarter. Invesco Ltd. now owns 755,142 shares of the semiconductor company's stock valued at $99,022,000 after acquiring an additional 25,273 shares in the last quarter. AQR Capital Management LLC grew its stake in Silicon Laboratories by 89.5% during the 3rd quarter. AQR Capital Management LLC now owns 701,919 shares of the semiconductor company's stock worth $91,109,000 after buying an additional 331,427 shares during the last quarter. Finally, Thrivent Financial for Lutherans increased its position in Silicon Laboratories by 312.9% in the fourth quarter. Thrivent Financial for Lutherans now owns 467,958 shares of the semiconductor company's stock worth $61,162,000 after buying an additional 354,621 shares during the period.

Insider Activity

In other news, CEO Robert Matthew Johnson sold 8,024 shares of the stock in a transaction on Monday, May 18th. The stock was sold at an average price of $216.83, for a total value of $1,739,843.92. Following the completion of the transaction, the chief executive officer owned 80,519 shares of the company's stock, valued at approximately $17,458,934.77. This represents a 9.06% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Insiders own 1.60% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts have weighed in on SLAB shares. Benchmark lowered Silicon Laboratories from a "buy" rating to a "hold" rating in a research report on Wednesday, February 4th. Needham & Company LLC lowered Silicon Laboratories from a "buy" rating to a "hold" rating in a research report on Wednesday, February 4th. Royal Bank Of Canada increased their target price on Silicon Laboratories from $160.00 to $205.00 and gave the stock a "sector perform" rating in a research report on Thursday, February 5th. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Silicon Laboratories in a research report on Friday, March 27th. Finally, KeyCorp lowered Silicon Laboratories from an "overweight" rating to a "hold" rating in a research report on Wednesday, February 4th. One equities research analyst has rated the stock with a Buy rating, eight have given a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $171.43.

Silicon Laboratories Price Performance

Shares of NASDAQ SLAB opened at $217.60 on Friday. Silicon Laboratories, Inc. has a 1-year low of $115.50 and a 1-year high of $219.20. The business's fifty day moving average price is $213.30 and its two-hundred day moving average price is $177.92. The firm has a market capitalization of $7.18 billion, a PE ratio of -142.22 and a beta of 1.40.

Silicon Laboratories (NASDAQ:SLAB - Get Free Report) last released its quarterly earnings results on Tuesday, May 5th. The semiconductor company reported $0.53 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.49 by $0.04. Silicon Laboratories had a negative return on equity of 2.18% and a negative net margin of 6.13%.The company had revenue of $213.50 million during the quarter, compared to analysts' expectations of $214.02 million. During the same quarter in the prior year, the business posted ($0.08) earnings per share. The company's revenue for the quarter was up 20.1% compared to the same quarter last year. Equities research analysts expect that Silicon Laboratories, Inc. will post 0.74 earnings per share for the current fiscal year.

Silicon Laboratories Profile

Silicon Laboratories NASDAQ: SLAB is a global semiconductor company that develops high-performance analog and mixed-signal integrated circuits, wireless system-on-chips (SoCs), microcontrollers, and radio frequency (RF) solutions. Its product portfolio is tailored to support the Internet of Things (IoT), infrastructure, industrial automation, consumer electronics, automotive, and energy markets. By combining silicon, software, and tools, Silicon Labs aims to accelerate development cycles and deliver low-power, highly integrated solutions that address demanding application requirements.

Founded in 1996 and headquartered in Austin, Texas, Silicon Labs has grown into a multinational organization with engineering and sales operations across North America, Europe, and Asia.

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