Zions Bancorporation National Association UT Makes New $1.73 Million Investment 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 acquired a new stake in shares of Silicon Laboratories, Inc. (NASDAQ:SLAB - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 15,367 shares of the semiconductor company's stock, valued at approximately $1,730,000.

A number of other institutional investors have also recently bought and sold shares of SLAB. Coldstream Capital Management Inc. increased its stake in Silicon Laboratories by 2.8% during the fourth quarter. Coldstream Capital Management Inc. now owns 2,473 shares of the semiconductor company's stock valued at $307,000 after acquiring an additional 68 shares during the period. Oregon Public Employees Retirement Fund increased its stake in Silicon Laboratories by 1.5% during the first quarter. Oregon Public Employees Retirement Fund now owns 6,668 shares of the semiconductor company's stock valued at $751,000 after acquiring an additional 100 shares during the period. State of Michigan Retirement System increased its stake in Silicon Laboratories by 1.3% during the first quarter. State of Michigan Retirement System now owns 7,797 shares of the semiconductor company's stock valued at $878,000 after acquiring an additional 100 shares during the period. Louisiana State Employees Retirement System increased its stake in Silicon Laboratories by 1.1% during the first quarter. Louisiana State Employees Retirement System now owns 9,100 shares of the semiconductor company's stock valued at $1,024,000 after acquiring an additional 100 shares during the period. Finally, Securian Asset Management Inc. increased its stake in Silicon Laboratories by 4.2% during the first quarter. Securian Asset Management Inc. now owns 2,498 shares of the semiconductor company's stock valued at $281,000 after acquiring an additional 100 shares during the period.

Insider Activity at Silicon Laboratories

In other news, SVP Robert J. Conrad sold 4,029 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 value of $528,604.80. Following the transaction, the senior vice president directly owned 25,380 shares of the company's stock, valued at $3,329,856. The trade was a 13.70% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 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 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. The trade was a 7.39% decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.60% of the stock is owned by insiders.

Silicon Laboratories Price Performance

Shares of SLAB traded down $3.41 on Thursday, hitting $131.24. The company's stock had a trading volume of 135,957 shares, compared to its average volume of 410,725. The company has a market capitalization of $4.31 billion, a PE ratio of -40.73 and a beta of 1.48. Silicon Laboratories, Inc. has a fifty-two week low of $82.82 and a fifty-two week high of $160.00. The company has a 50 day moving average price of $139.04 and a 200 day moving average price of $127.93.

Silicon Laboratories (NASDAQ:SLAB - Get Free Report) last announced its earnings results on Tuesday, August 5th. The semiconductor company reported $0.11 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 the consensus estimate of $192.57 million. Silicon Laboratories had a negative return on equity of 7.21% and a negative net margin of 14.88%. Silicon Laboratories's revenue was up 32.6% compared to the same quarter last year. During the same period in the previous year, the business earned ($0.56) EPS. On average, equities analysts forecast that Silicon Laboratories, Inc. will post -0.97 EPS for the current year.

Analyst Ratings Changes

Several brokerages recently issued reports on SLAB. Needham & Company LLC restated a "buy" rating and set a $150.00 price target on shares of Silicon Laboratories in a research note on Wednesday, May 14th. Susquehanna boosted their price target on Silicon Laboratories from $110.00 to $150.00 and gave the company a "neutral" rating in a research note on Tuesday, July 22nd. Wall Street Zen raised Silicon Laboratories from a "sell" rating to a "hold" rating in a report on Wednesday, May 14th. Benchmark reaffirmed a "buy" rating and set a $160.00 price objective on shares of Silicon Laboratories in a report on Tuesday, May 27th. Finally, Stifel Nicolaus lifted their price objective on Silicon Laboratories from $144.00 to $160.00 and gave the company a "buy" rating in a report on Friday, July 18th. Four research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $151.13.

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.