Stephens Investment Management Group LLC Lowers Holdings in Silicon Laboratories, Inc. (NASDAQ:SLAB)

Stephens Investment Management Group LLC lessened its stake in shares of Silicon Laboratories, Inc. (NASDAQ:SLAB - Free Report) by 0.6% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 285,661 shares of the semiconductor company's stock after selling 1,847 shares during the period. Stephens Investment Management Group LLC owned approximately 0.88% of Silicon Laboratories worth $32,157,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also modified their holdings of SLAB. Jones Financial Companies Lllp increased its holdings in shares of Silicon Laboratories by 44.5% in the 4th quarter. Jones Financial Companies Lllp now owns 224 shares of the semiconductor company's stock worth $28,000 after purchasing an additional 69 shares in the last quarter. UMB Bank n.a. increased its holdings in shares of Silicon Laboratories by 111.3% in the 1st quarter. UMB Bank n.a. now owns 336 shares of the semiconductor company's stock worth $38,000 after purchasing an additional 177 shares in the last quarter. Parallel Advisors LLC increased its holdings in shares of Silicon Laboratories by 143.7% in the 1st quarter. Parallel Advisors LLC now owns 463 shares of the semiconductor company's stock worth $52,000 after purchasing an additional 273 shares in the last quarter. Headlands Technologies LLC bought a new stake in shares of Silicon Laboratories in the 4th quarter worth $70,000. Finally, TD Private Client Wealth LLC increased its holdings in shares of Silicon Laboratories by 53.6% in the 1st quarter. TD Private Client Wealth LLC now owns 914 shares of the semiconductor company's stock worth $103,000 after purchasing an additional 319 shares in the last quarter.

Insider Activity at Silicon Laboratories

In related news, SVP Robert J. Conrad sold 4,029 shares of Silicon Laboratories stock in a transaction on Friday, May 16th. The stock was sold at an average price of $131.20, for a total transaction of $528,604.80. Following the transaction, the senior vice president directly owned 25,380 shares in the company, valued at approximately $3,329,856. The trade was a 13.70% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Christy Wyatt sold 546 shares of Silicon Laboratories stock in a transaction on Tuesday, May 6th. The shares were sold at an average price of $104.45, for a total value of $57,029.70. Following the transaction, the director owned 8,492 shares in the company, valued at $886,989.40. This trade represents a 6.04% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 11,626 shares of company stock worth $1,509,319. Corporate insiders own 1.60% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms have commented on SLAB. Barclays reduced their target price on 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 reaffirmed a "buy" rating and issued a $160.00 price objective on shares of Silicon Laboratories in a report on Tuesday, May 27th. Needham & Company LLC reaffirmed a "buy" rating and issued a $150.00 price objective on shares of Silicon Laboratories in a report on Wednesday, May 14th. Wall Street Zen raised Silicon Laboratories from a "sell" rating to a "hold" rating in a report on Wednesday, May 14th. Finally, KeyCorp lifted their price objective on Silicon Laboratories from $160.00 to $180.00 and gave the stock an "overweight" rating in a report on Tuesday, July 8th. Four equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, Silicon Laboratories currently has a consensus rating of "Moderate Buy" and a consensus target price of $129.00.

Silicon Laboratories Trading Up 2.0%

NASDAQ SLAB traded up $2.72 on Wednesday, hitting $140.57. 405,419 shares of the company traded hands, compared to its average volume of 353,055. The company has a market capitalization of $4.58 billion, a price-to-earnings ratio of -27.51 and a beta of 1.47. The business's 50 day moving average price is $135.24 and its 200-day moving average price is $127.57. Silicon Laboratories, Inc. has a 52-week low of $82.82 and a 52-week high of $160.00.

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, beating the consensus estimate of ($0.09) by $0.01. The company had revenue of $177.71 million for the quarter, compared to the consensus estimate of $177.48 million. Silicon Laboratories had a negative return on equity of 8.80% and a negative net margin of 25.16%. Silicon Laboratories's quarterly revenue was up 67.0% compared to the same quarter last year. During the same period in the previous year, the business earned ($0.92) earnings per share. As a group, sell-side analysts predict that Silicon Laboratories, Inc. will post -0.97 earnings per share for the current year.

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.