Squarepoint Ops LLC Acquires 48,356 Shares of Silicon Laboratories Inc. (NASDAQ:SLAB)

Squarepoint Ops LLC grew its stake in Silicon Laboratories Inc. (NASDAQ:SLAB - Free Report) by 735.0% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 54,935 shares of the semiconductor company's stock after purchasing an additional 48,356 shares during the period. Squarepoint Ops LLC owned about 0.17% of Silicon Laboratories worth $6,824,000 as of its most recent SEC filing.

Several other institutional investors have also made changes to their positions in the business. Summit Partners Public Asset Management LLC acquired a new stake in shares of Silicon Laboratories during the 4th quarter valued at about $2,857,000. Silvercrest Asset Management Group LLC boosted its position in shares of Silicon Laboratories by 45.7% during the 4th quarter. Silvercrest Asset Management Group LLC now owns 232,208 shares of the semiconductor company's stock valued at $28,845,000 after acquiring an additional 72,783 shares in the last quarter. ProShare Advisors LLC boosted its position in shares of Silicon Laboratories by 26.2% during the 4th quarter. ProShare Advisors LLC now owns 14,958 shares of the semiconductor company's stock valued at $1,858,000 after acquiring an additional 3,103 shares in the last quarter. Quantinno Capital Management LP acquired a new stake in shares of Silicon Laboratories during the 4th quarter valued at about $250,000. Finally, Man Group plc acquired a new stake in shares of Silicon Laboratories during the 4th quarter valued at about $798,000.

Silicon Laboratories Stock Performance

Shares of NASDAQ SLAB traded down $2.89 during trading on Friday, reaching $120.89. The company had a trading volume of 52,525 shares, compared to its average volume of 336,423. Silicon Laboratories Inc. has a 52 week low of $82.82 and a 52 week high of $160.00. The stock has a market cap of $3.94 billion, a PE ratio of -20.41 and a beta of 1.36. The business's 50 day moving average price is $108.75 and its 200-day moving average price is $121.98.

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. Silicon Laboratories had a negative net margin of 32.69% and a negative return on equity of 10.46%. The company had revenue of $177.71 million during the quarter, compared to the consensus estimate of $177.48 million. During the same period in the previous year, the firm posted ($0.92) earnings per share. The company's revenue was up 67.0% on a year-over-year basis. Equities analysts anticipate that Silicon Laboratories Inc. will post -0.97 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the stock. Needham & Company LLC reiterated a "buy" rating and set a $150.00 target price on shares of Silicon Laboratories in a research report on Wednesday, May 14th. Susquehanna lifted their price target on shares of Silicon Laboratories from $100.00 to $110.00 and gave the company a "neutral" rating in a report on Wednesday, May 14th. Barclays cut their price target on shares of Silicon Laboratories from $120.00 to $80.00 and set an "equal weight" rating for the company in a report on Tuesday, April 22nd. Benchmark reissued a "buy" rating and set a $160.00 price target on shares of Silicon Laboratories in a report on Tuesday. Finally, Wall Street Zen raised shares of Silicon Laboratories from a "sell" rating to a "hold" rating in a report on Wednesday, May 14th. Four equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $126.50.

Insiders Place Their Bets

In related news, Director Christy Wyatt sold 546 shares of the business's stock in a transaction that occurred on Tuesday, May 6th. The shares were sold at an average price of $104.45, for a total transaction of $57,029.70. Following the completion of the sale, the director now directly owns 8,492 shares of the company's stock, valued at $886,989.40. The trade was a 6.04% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CEO Robert Matthew Johnson sold 5,879 shares of the business's stock in a transaction that occurred 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 sale, the chief executive officer now directly owns 73,688 shares of the company's stock, valued at approximately $9,667,865.60. This trade represents a 7.39% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over 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 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.