Teacher Retirement System of Texas Purchases New Shares in Silicon Laboratories, Inc. (NASDAQ:SLAB)

Teacher Retirement System of Texas purchased a new position in shares of Silicon Laboratories, Inc. (NASDAQ:SLAB - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 5,042 shares of the semiconductor company's stock, valued at approximately $568,000.

Several other large investors also recently made changes to their positions in the business. Jones Financial Companies Lllp boosted its stake in shares of Silicon Laboratories by 44.5% in the fourth quarter. Jones Financial Companies Lllp now owns 224 shares of the semiconductor company's stock valued at $28,000 after purchasing an additional 69 shares during the period. UMB Bank n.a. raised its holdings in shares of 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 purchasing an additional 177 shares during the period. 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 acquiring an additional 273 shares during the period. Headlands Technologies LLC acquired a new position in Silicon Laboratories during the 4th quarter valued at about $70,000. Finally, GAMMA Investing LLC boosted its position in shares of Silicon Laboratories by 99.6% during the 1st quarter. GAMMA Investing LLC now owns 1,126 shares of the semiconductor company's stock valued at $127,000 after purchasing an additional 562 shares in the last quarter.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the stock. Wall Street Zen upgraded shares of Silicon Laboratories from a "sell" rating to a "hold" rating in a research report on Wednesday, May 14th. KeyCorp raised their price objective on shares of Silicon Laboratories from $160.00 to $180.00 and gave the company an "overweight" rating in a research report on Tuesday, July 8th. Barclays reduced their price objective on shares of 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 raised their target price on shares of Silicon Laboratories from $144.00 to $160.00 and gave the stock a "buy" rating in a report on Friday. Finally, Susquehanna raised their target price on shares of Silicon Laboratories from $100.00 to $110.00 and gave the stock a "neutral" rating in a report on Wednesday, May 14th. Four investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $134.00.

Silicon Laboratories Stock Performance

Shares of SLAB stock traded up $4.24 during trading on Friday, hitting $149.63. 559,413 shares of the company were exchanged, compared to its average volume of 354,155. The firm has a market capitalization of $4.87 billion, a price-to-earnings ratio of -29.28 and a beta of 1.47. The business's 50-day simple moving average is $135.93 and its 200 day simple moving average is $127.71. Silicon Laboratories, Inc. has a twelve month low of $82.82 and a twelve month high of $160.00.

Silicon Laboratories (NASDAQ:SLAB - Get Free Report) last posted its quarterly earnings results on Tuesday, May 13th. The semiconductor company reported ($0.08) EPS for the quarter, topping the consensus estimate of ($0.09) by $0.01. The business had revenue of $177.71 million during the quarter, compared to analysts' expectations of $177.48 million. Silicon Laboratories had a negative net margin of 25.16% and a negative return on equity of 8.80%. The firm's quarterly revenue was up 67.0% compared to the same quarter last year. During the same period last year, the company posted ($0.92) earnings per share. On average, equities analysts forecast that Silicon Laboratories, Inc. will post -0.97 earnings per share for the current fiscal year.

Insider Buying and Selling

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

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.