Van Berkom & Associates Inc. Sells 260,346 Shares of Silicon Laboratories, Inc. (NASDAQ:SLAB)

Key Points

• Van Berkom & Associates Inc. has reduced its stake in Silicon Laboratories, Inc. by 46.7%, selling 260,346 shares and retaining 296,851 shares, valued at approximately $33.4 million.
• Recent analyst reports show a mix of ratings for Silicon Laboratories, with four analysts rating it as a hold and five as a buy, while the average price target is set at $139.00.
• In the last quarter, insiders sold a total of 11,626 shares worth around $1.5 million, indicating some profit-taking among executives, including the CEO and a director.

Van Berkom & Associates Inc. trimmed its position in shares of Silicon Laboratories, Inc. (NASDAQ:SLAB - Free Report) by 46.7% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 296,851 shares of the semiconductor company's stock after selling 260,346 shares during the period. Van Berkom & Associates Inc. owned approximately 0.91% of Silicon Laboratories worth $33,417,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the company. Skandinaviska Enskilda Banken AB publ acquired a new stake in shares of Silicon Laboratories during the 1st quarter worth approximately $34,000. UMB Bank n.a. boosted 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 valued at $38,000 after purchasing an additional 177 shares in the last quarter. Parallel Advisors LLC boosted 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 valued at $52,000 after purchasing an additional 273 shares in the last quarter. Larson Financial Group LLC bought a new position in shares of Silicon Laboratories in the 1st quarter valued at $55,000. Finally, Headlands Technologies LLC acquired a new position in shares of Silicon Laboratories during the 4th quarter worth $70,000.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on SLAB. Wall Street Zen raised Silicon Laboratories from a "sell" rating to a "hold" rating in a research note on Wednesday, May 14th. Stifel Nicolaus lifted their price target on shares of Silicon Laboratories from $144.00 to $160.00 and gave the company a "buy" rating in a report on Friday, July 18th. Benchmark reiterated a "buy" rating and set a $160.00 price objective on shares of Silicon Laboratories in a research report on Tuesday, May 27th. Susquehanna increased their price objective on shares of Silicon Laboratories from $110.00 to $150.00 and gave the company a "neutral" rating in a research note on Tuesday. Finally, Barclays decreased their target price on shares of Silicon Laboratories from $120.00 to $80.00 and set an "equal weight" rating on the stock in a research note on Tuesday, April 22nd. Four investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, Silicon Laboratories presently has an average rating of "Moderate Buy" and a consensus price target of $139.00.

Insider Buying and Selling at Silicon Laboratories

In related news, CEO Robert Matthew Johnson sold 5,879 shares of the company'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 value of $771,324.80. Following the sale, the chief executive officer directly owned 73,688 shares in the company, valued at $9,667,865.60. This represents a 7.39% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Christy Wyatt sold 546 shares of the 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 sale, the director directly owned 8,492 shares of the company's stock, valued at $886,989.40. This represents a 6.04% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 11,626 shares of company stock worth $1,509,319. Insiders own 1.60% of the company's stock.

Silicon Laboratories Stock Performance

Shares of NASDAQ SLAB opened at $134.50 on Friday. The firm has a 50 day moving average price of $137.41 and a two-hundred day moving average price of $128.31. The stock has a market cap of $4.38 billion, a P/E ratio of -26.32 and a beta of 1.47. 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 issued its quarterly earnings data on Tuesday, May 13th. The semiconductor company reported ($0.08) earnings per share for the quarter, topping the consensus estimate of ($0.09) by $0.01. The company had revenue of $177.71 million for 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%. Silicon Laboratories's revenue for the quarter was up 67.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.92) earnings per share. Analysts predict that Silicon Laboratories, Inc. will post -0.97 earnings per share for the current fiscal year.

Silicon Laboratories Company 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.

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