MetLife Investment Management LLC lifted its position in Silicon Laboratories Inc. (NASDAQ:SLAB - Free Report) by 7.5% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 36,982 shares of the semiconductor company's stock after purchasing an additional 2,578 shares during the quarter. MetLife Investment Management LLC owned about 0.11% of Silicon Laboratories worth $4,594,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also recently modified their holdings of the company. Barclays PLC grew its position in Silicon Laboratories by 23.4% during the 3rd quarter. Barclays PLC now owns 70,568 shares of the semiconductor company's stock worth $8,157,000 after purchasing an additional 13,363 shares during the period. Tidal Investments LLC purchased a new position in Silicon Laboratories during the third quarter valued at approximately $520,000. Franklin Resources Inc. lifted its holdings in Silicon Laboratories by 1.9% in the third quarter. Franklin Resources Inc. now owns 231,889 shares of the semiconductor company's stock valued at $27,001,000 after acquiring an additional 4,278 shares during the period. Oddo BHF Asset Management Sas acquired a new position in Silicon Laboratories in the third quarter valued at approximately $694,000. Finally, Park Avenue Securities LLC acquired a new stake in shares of Silicon Laboratories during the 4th quarter worth approximately $268,000.
Analysts Set New Price Targets
Several research firms recently issued reports on SLAB. Barclays decreased their target price on shares of Silicon Laboratories from $120.00 to $80.00 and set an "equal weight" rating for the company in a research note on Tuesday, April 22nd. Needham & Company LLC reiterated a "buy" rating and issued a $150.00 price objective on shares of Silicon Laboratories in a research report on Wednesday, March 12th. Benchmark restated a "buy" rating and set a $160.00 target price on shares of Silicon Laboratories in a research report on Wednesday, March 12th. StockNews.com downgraded Silicon Laboratories from a "hold" rating to a "sell" rating in a research note on Thursday, March 27th. Finally, KeyCorp increased their price objective on shares of Silicon Laboratories from $115.00 to $160.00 and gave the company an "overweight" rating in a report on Wednesday, January 22nd. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $129.00.
View Our Latest Stock Analysis on SLAB
Insiders Place Their Bets
In other Silicon Laboratories news, Director Navdeep S. Sooch sold 2,360 shares of the business's stock in a transaction dated Wednesday, February 5th. The shares were sold at an average price of $149.00, for a total value of $351,640.00. Following the transaction, the director now directly owns 400,567 shares in the company, valued at $59,684,483. The trade was a 0.59 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director William G. Bock sold 1,000 shares of the firm's stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $149.43, for a total transaction of $149,430.00. Following the sale, the director now owns 31,115 shares of the company's stock, valued at $4,649,514.45. This represents a 3.11 % decrease in their position. The disclosure for this sale can be found here. 1.60% of the stock is currently owned by corporate insiders.
Silicon Laboratories Stock Performance
Shares of NASDAQ SLAB traded up $0.04 during mid-day trading on Wednesday, reaching $101.76. The company's stock had a trading volume of 455,582 shares, compared to its average volume of 326,475. The stock has a 50-day moving average of $113.38 and a two-hundred day moving average of $120.73. The stock has a market capitalization of $3.30 billion, a P/E ratio of -17.13 and a beta of 1.33. Silicon Laboratories Inc. has a 1-year low of $82.82 and a 1-year high of $160.00.
Silicon Laboratories (NASDAQ:SLAB - Get Free Report) last released its earnings results on Tuesday, February 4th. The semiconductor company reported ($0.11) earnings per share for the quarter, hitting analysts' consensus estimates of ($0.11). The business had revenue of $166.25 million for the quarter, compared to analyst estimates of $166.09 million. Silicon Laboratories had a negative net margin of 32.69% and a negative return on equity of 10.46%. The business's revenue was up 91.4% on a year-over-year basis. During the same period last year, the company posted ($1.19) EPS. Analysts predict that Silicon Laboratories Inc. will post -0.97 EPS for the current fiscal year.
About Silicon Laboratories
(
Free Report)
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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