Raymond James Financial Inc. Takes $14.25 Million Position in Silicon Laboratories Inc. (NASDAQ:SLAB)

Raymond James Financial Inc. acquired a new position in shares of Silicon Laboratories Inc. (NASDAQ:SLAB - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 114,735 shares of the semiconductor company's stock, valued at approximately $14,252,000. Raymond James Financial Inc. owned about 0.35% of Silicon Laboratories at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Jones Financial Companies Lllp boosted its holdings in Silicon Laboratories by 44.5% during the fourth quarter. Jones Financial Companies Lllp now owns 224 shares of the semiconductor company's stock worth $28,000 after purchasing an additional 69 shares during the last quarter. Headlands Technologies LLC bought a new position in shares of Silicon Laboratories in the fourth quarter valued at approximately $70,000. Venturi Wealth Management LLC lifted its holdings in Silicon Laboratories by 207.0% during the fourth quarter. Venturi Wealth Management LLC now owns 786 shares of the semiconductor company's stock worth $98,000 after acquiring an additional 530 shares during the period. Asset Management One Co. Ltd. bought a new stake in shares of Silicon Laboratories during the 4th quarter worth $117,000. Finally, KBC Group NV boosted its stake in Silicon Laboratories by 42.1% in the fourth quarter. KBC Group NV now owns 1,279 shares of the semiconductor company's stock valued at $159,000 after acquiring an additional 379 shares during the last quarter.

Silicon Laboratories Stock Down 1.1 %

NASDAQ:SLAB traded down $1.12 during mid-day trading on Friday, hitting $102.76. 319,614 shares of the stock traded hands, compared to its average volume of 327,454. The business's 50-day moving average price is $116.65 and its 200 day moving average price is $120.97. The company has a market cap of $3.34 billion, a PE ratio of -17.30 and a beta of 1.33. Silicon Laboratories Inc. has a 12-month low of $82.82 and a 12-month high of $160.00.

Silicon Laboratories (NASDAQ:SLAB - Get Free Report) last released its quarterly earnings results on Tuesday, February 4th. The semiconductor company reported ($0.11) EPS for the quarter, meeting analysts' consensus estimates of ($0.11). Silicon Laboratories had a negative net margin of 32.69% and a negative return on equity of 10.46%. The firm had revenue of $166.25 million during the quarter, compared to analyst estimates of $166.09 million. During the same period in the previous year, the business earned ($1.19) EPS. The business's revenue for the quarter was up 91.4% on a year-over-year basis. Analysts anticipate that Silicon Laboratories Inc. will post -0.97 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities analysts recently commented on the company. Barclays dropped their price objective on Silicon Laboratories from $120.00 to $80.00 and set an "equal weight" rating on the stock in a research note on Tuesday. Needham & Company LLC reiterated a "buy" rating and set a $150.00 price target on shares of Silicon Laboratories in a research note on Wednesday, March 12th. Benchmark reaffirmed a "buy" rating and set a $160.00 price objective on shares of Silicon Laboratories in a report on Wednesday, March 12th. StockNews.com lowered shares of Silicon Laboratories from a "hold" rating to a "sell" rating in a research report on Thursday, March 27th. Finally, Stifel Nicolaus lowered their price target on shares of Silicon Laboratories from $145.00 to $120.00 and set a "buy" rating on the stock in a research report on Thursday, April 17th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and five have issued a buy rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Hold" and an average target price of $129.00.

Insider Transactions at Silicon Laboratories

In other news, Director Navdeep S. Sooch sold 2,360 shares of Silicon Laboratories stock in a transaction on Wednesday, February 5th. The shares were sold at an average price of $149.00, for a total transaction of $351,640.00. Following the completion of the sale, the director now directly owns 400,567 shares of the company's stock, valued at approximately $59,684,483. The trade was a 0.59 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director William G. Bock sold 1,000 shares of the stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $149.43, for a total value of $149,430.00. Following the completion of the transaction, the director now directly owns 31,115 shares in the company, valued at approximately $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 owned by insiders.

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.