Zions Bancorporation National Association UT Invests $1.73 Million in Silicon Laboratories, Inc. (NASDAQ:SLAB)

Key Points

• Zions Bancorporation National Association UT has invested approximately $1.73 million in Silicon Laboratories ($SLAB), acquiring 15,367 shares in the process.
• Silicon Laboratories reported a 32.6% year-over-year increase in revenue, totaling $192.85 million, and surpassed earnings expectations with an EPS of $0.11.
• Institutional investors have shown increased interest, with several entities, including Capital Research Global Investors and GAMMA Investing LLC, significantly enhancing their stakes in the company.

Zions Bancorporation National Association UT bought a new position in Silicon Laboratories, Inc. (NASDAQ:SLAB - Free Report) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 15,367 shares of the semiconductor company's stock, valued at approximately $1,730,000.

A number of other institutional investors have also recently modified their holdings of SLAB. Capital Research Global Investors grew its stake in shares of Silicon Laboratories by 23.3% in the fourth quarter. Capital Research Global Investors now owns 2,131,920 shares of the semiconductor company's stock worth $264,827,000 after acquiring an additional 403,010 shares during the last quarter. Westfield Capital Management Co. LP purchased a new stake in shares of Silicon Laboratories in the first quarter worth $37,249,000. Mackenzie Financial Corp grew its stake in shares of Silicon Laboratories by 11,746.2% in the first quarter. Mackenzie Financial Corp now owns 236,924 shares of the semiconductor company's stock worth $26,671,000 after acquiring an additional 234,924 shares during the last quarter. Invesco Ltd. grew its stake in shares of Silicon Laboratories by 46.9% in the fourth quarter. Invesco Ltd. now owns 595,382 shares of the semiconductor company's stock worth $73,958,000 after acquiring an additional 190,085 shares during the last quarter. Finally, GAMMA Investing LLC grew its stake in shares of Silicon Laboratories by 22,374.1% in the first quarter. GAMMA Investing LLC now owns 126,754 shares of the semiconductor company's stock worth $14,269,000 after acquiring an additional 126,190 shares during the last quarter.

Silicon Laboratories Stock Performance

Shares of NASDAQ:SLAB opened at $125.42 on Friday. The stock has a market capitalization of $4.12 billion, a price-to-earnings ratio of -38.95 and a beta of 1.48. The stock's 50-day simple moving average is $138.69 and its two-hundred day simple moving average is $128.03. 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 announced its earnings results on Tuesday, August 5th. The semiconductor company reported $0.11 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.09 by $0.02. The business had revenue of $192.85 million for the quarter, compared to analysts' expectations of $192.57 million. Silicon Laboratories had a negative return on equity of 7.21% and a negative net margin of 14.88%. The business's revenue for the quarter was up 32.6% on a year-over-year basis. During the same period last year, the firm posted ($0.56) earnings per share. As a group, equities analysts forecast that Silicon Laboratories, Inc. will post -0.97 earnings per share for the current fiscal year.

Insider Activity

In other Silicon Laboratories news, SVP Robert J. Conrad sold 4,029 shares of the firm's stock in a transaction dated Friday, May 16th. The stock was sold at an average price of $131.20, for a total value of $528,604.80. Following the transaction, the senior vice president directly owned 25,380 shares of the company's stock, valued at approximately $3,329,856. This trade represents a 13.70% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Robert Matthew Johnson sold 5,879 shares of the firm's stock in a transaction dated Friday, May 16th. The stock was sold at an average price of $131.20, for a total value of $771,324.80. Following the completion of the transaction, the chief executive officer directly owned 73,688 shares in the company, valued at $9,667,865.60. This trade represents a 7.39% decrease in their position. The disclosure for this sale can be found here. Insiders sold 11,080 shares of company stock worth $1,452,290 over the last three months. Insiders own 1.60% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on SLAB shares. Susquehanna increased their price objective on Silicon Laboratories from $110.00 to $150.00 and gave the company a "neutral" rating in a research report on Tuesday, July 22nd. Wall Street Zen raised Silicon Laboratories from a "sell" rating to a "hold" rating in a research report on Wednesday, May 14th. Morgan Stanley dropped their price objective on Silicon Laboratories from $157.00 to $144.00 and set an "equal weight" rating on the stock in a research report on Wednesday. Barclays increased their price objective on Silicon Laboratories from $100.00 to $130.00 and gave the company an "equal weight" rating in a research report on Tuesday, August 5th. Finally, Needham & Company LLC reaffirmed a "buy" rating and set a $150.00 price objective on shares of Silicon Laboratories in a research report on Wednesday, May 14th. Four research 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 company currently has a consensus rating of "Moderate Buy" and a consensus target price of $151.13.

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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