Price T Rowe Associates Inc. MD Sells 40,288 Shares of Silicon Laboratories Inc. (NASDAQ:SLAB)

Price T Rowe Associates Inc. MD lessened its position in Silicon Laboratories Inc. (NASDAQ:SLAB - Free Report) by 64.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 22,354 shares of the semiconductor company's stock after selling 40,288 shares during the period. Price T Rowe Associates Inc. MD owned about 0.07% of Silicon Laboratories worth $2,777,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of SLAB. Jones Financial Companies Lllp lifted its stake in shares of Silicon Laboratories by 44.5% during the 4th quarter. Jones Financial Companies Lllp now owns 224 shares of the semiconductor company's stock worth $28,000 after buying an additional 69 shares during the last quarter. Pacer Advisors Inc. lifted its position in Silicon Laboratories by 1.8% during the fourth quarter. Pacer Advisors Inc. now owns 4,839 shares of the semiconductor company's stock worth $601,000 after acquiring an additional 87 shares during the last quarter. Louisiana State Employees Retirement System boosted its holdings in shares of Silicon Laboratories by 1.1% during the fourth quarter. Louisiana State Employees Retirement System now owns 9,000 shares of the semiconductor company's stock worth $1,118,000 after acquiring an additional 100 shares during the period. Oppenheimer Asset Management Inc. grew its position in shares of Silicon Laboratories by 1.4% in the fourth quarter. Oppenheimer Asset Management Inc. now owns 7,169 shares of the semiconductor company's stock valued at $891,000 after purchasing an additional 102 shares during the last quarter. Finally, Procyon Advisors LLC increased its stake in shares of Silicon Laboratories by 4.4% during the fourth quarter. Procyon Advisors LLC now owns 3,176 shares of the semiconductor company's stock worth $395,000 after purchasing an additional 133 shares during the period.

Insider Activity at Silicon Laboratories

In related news, Director William G. Bock sold 1,000 shares of the firm's stock in a transaction 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 trade represents a 3.11 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Christy Wyatt sold 546 shares of the company's stock in a transaction dated Tuesday, May 6th. The stock was sold at an average price of $104.45, for a total value of $57,029.70. Following the completion of the transaction, the director now directly owns 8,492 shares of the company's stock, valued at approximately $886,989.40. The trade was a 6.04 % decrease in their position. The disclosure for this sale can be found here. 1.60% of the stock is currently owned by insiders.

Silicon Laboratories Trading Down 0.3 %

Shares of Silicon Laboratories stock opened at $106.71 on Wednesday. The company has a market cap of $3.47 billion, a PE ratio of -17.96 and a beta of 1.36. The company has a 50 day moving average of $110.38 and a 200-day moving average of $120.49. 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 posted its quarterly earnings results on Tuesday, February 4th. The semiconductor company reported ($0.11) EPS for the quarter, hitting analysts' consensus estimates of ($0.11). Silicon Laboratories had a negative return on equity of 10.46% and a negative net margin of 32.69%. The company had revenue of $166.25 million during the quarter, compared to analysts' expectations of $166.09 million. During the same quarter in the previous year, the firm earned ($1.19) EPS. Silicon Laboratories's revenue was up 91.4% on a year-over-year basis. Research analysts forecast that Silicon Laboratories Inc. will post -0.97 earnings per share for the current year.

Analyst Upgrades and Downgrades

SLAB has been the topic of a number of research reports. Stifel Nicolaus decreased their price objective on Silicon Laboratories from $145.00 to $120.00 and set a "buy" rating on the stock in a report on Thursday, April 17th. Barclays decreased their price target 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. Benchmark reiterated a "buy" rating and issued a $160.00 price objective on shares of Silicon Laboratories in a research note on Wednesday, March 12th. StockNews.com downgraded shares of Silicon Laboratories from a "hold" rating to a "sell" rating in a report on Thursday, March 27th. Finally, Needham & Company LLC reaffirmed a "buy" rating and set a $150.00 target price on shares of Silicon Laboratories in a report on Wednesday, March 12th. One research analyst has rated the stock with a sell rating, three have given a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $129.00.

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.

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