Silicon Laboratories Inc. (NASDAQ:SLAB) Shares Sold by Russell Investments Group Ltd.

Russell Investments Group Ltd. trimmed its position in shares of Silicon Laboratories Inc. (NASDAQ:SLAB - Free Report) by 49.1% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 20,583 shares of the semiconductor company's stock after selling 19,823 shares during the quarter. Russell Investments Group Ltd. owned 0.06% of Silicon Laboratories worth $2,557,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently made changes to their positions in the company. Wells Fargo & Company MN grew its position in Silicon Laboratories by 10.8% in the 4th quarter. Wells Fargo & Company MN now owns 40,988 shares of the semiconductor company's stock worth $5,092,000 after purchasing an additional 3,996 shares in the last quarter. ExodusPoint Capital Management LP purchased a new stake in shares of Silicon Laboratories during the 4th quarter valued at $1,891,000. Headlands Technologies LLC purchased a new stake in Silicon Laboratories during the fourth quarter worth about $70,000. Alliancebernstein L.P. raised its position in Silicon Laboratories by 58.2% in the fourth quarter. Alliancebernstein L.P. now owns 240,321 shares of the semiconductor company's stock worth $29,853,000 after acquiring an additional 88,438 shares during the period. Finally, O Shaughnessy Asset Management LLC purchased a new position in Silicon Laboratories in the fourth quarter valued at about $214,000.

Silicon Laboratories Stock Up 4.9 %

SLAB traded up $4.64 on Wednesday, reaching $98.96. 53,768 shares of the company traded hands, compared to its average volume of 333,035. The company has a market cap of $3.21 billion, a P/E ratio of -16.66 and a beta of 1.33. The firm has a fifty day simple moving average of $119.66 and a two-hundred day simple moving average of $121.28. Silicon Laboratories Inc. has a one year low of $82.82 and a one year high of $160.00.

Silicon Laboratories (NASDAQ:SLAB - Get Free Report) last issued its quarterly earnings data 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 net margin of 32.69% and a negative return on equity of 10.46%. The company had revenue of $166.25 million during the quarter, compared to the consensus estimate of $166.09 million. During the same quarter in the previous year, the firm posted ($1.19) earnings per share. Silicon Laboratories's revenue for the quarter was up 91.4% compared to the same quarter last year. On average, equities analysts forecast that Silicon Laboratories Inc. will post -0.97 earnings per share for the current year.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the company. Stifel Nicolaus cut their price target on Silicon Laboratories from $145.00 to $120.00 and set a "buy" rating for the company in a research note on Thursday, April 17th. StockNews.com cut shares of Silicon Laboratories from a "hold" rating to a "sell" rating in a research report on Thursday, March 27th. Barclays cut their price objective on Silicon Laboratories from $120.00 to $80.00 and set an "equal weight" rating for the company in a report on Tuesday. 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. Finally, Benchmark reaffirmed a "buy" rating and issued a $160.00 price target on shares of Silicon Laboratories in a research note on Wednesday, March 12th. One analyst has rated the stock with a sell rating, five have issued a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $129.70.

Insider Activity

In other Silicon Laboratories news, 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 value of $149,430.00. Following the sale, the director now directly owns 31,115 shares of the company's stock, valued at approximately $4,649,514.45. This trade represents a 3.11 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Navdeep S. Sooch sold 2,360 shares of the business's stock in a transaction that occurred on Wednesday, February 5th. The stock was sold at an average price of $149.00, for a total value of $351,640.00. Following the sale, the director now owns 400,567 shares of the company's stock, valued at approximately $59,684,483. This trade represents a 0.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 1.60% of the company's stock.

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.