Northern Trust Corp Grows Position in Silicon Laboratories Inc. (NASDAQ:SLAB)

Northern Trust Corp lifted its stake in shares of Silicon Laboratories Inc. (NASDAQ:SLAB - Free Report) by 12.5% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 415,007 shares of the semiconductor company's stock after buying an additional 46,109 shares during the quarter. Northern Trust Corp owned about 1.28% of Silicon Laboratories worth $51,552,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently bought and sold shares of SLAB. Barclays PLC raised its position in shares of Silicon Laboratories by 23.4% in the 3rd quarter. Barclays PLC now owns 70,568 shares of the semiconductor company's stock worth $8,157,000 after acquiring an additional 13,363 shares in the last quarter. Tidal Investments LLC bought a new position in Silicon Laboratories in the third quarter worth $520,000. Franklin Resources Inc. lifted its position in Silicon Laboratories by 1.9% during the third quarter. Franklin Resources Inc. now owns 231,889 shares of the semiconductor company's stock valued at $27,001,000 after buying an additional 4,278 shares during the period. Park Avenue Securities LLC bought a new stake in shares of Silicon Laboratories during the 4th quarter valued at $268,000. Finally, Procyon Advisors LLC grew its position in shares of Silicon Laboratories by 4.4% in the 4th quarter. Procyon Advisors LLC now owns 3,176 shares of the semiconductor company's stock worth $395,000 after buying an additional 133 shares during the period.

Silicon Laboratories Stock Up 5.4 %

SLAB traded up $5.97 during midday trading on Friday, hitting $117.04. 306,143 shares of the company traded hands, compared to its average volume of 328,951. The company's 50-day moving average is $108.95 and its 200 day moving average is $120.50. Silicon Laboratories Inc. has a 52 week low of $82.82 and a 52 week high of $160.00. The firm has a market capitalization of $3.80 billion, a PE ratio of -19.70 and a beta of 1.36.

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

Insider Buying and Selling

In other news, Director William G. Bock sold 1,000 shares of the business's stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $149.43, for a total value of $149,430.00. Following the transaction, the director now directly owns 31,115 shares in the company, valued at $4,649,514.45. The trade was a 3.11 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Christy Wyatt sold 546 shares of the 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 sale, the director now owns 8,492 shares of the company's stock, valued at $886,989.40. This represents 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 corporate insiders.

Analysts Set New Price Targets

SLAB has been the topic of several research reports. StockNews.com lowered shares of Silicon Laboratories from a "hold" rating to a "sell" rating in a research note on Thursday, March 27th. Benchmark restated a "buy" rating and issued a $160.00 price target on shares of Silicon Laboratories in a research note on Wednesday, March 12th. Stifel Nicolaus lowered their price objective 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. Needham & Company LLC reissued a "buy" rating and issued a $150.00 target price on shares of Silicon Laboratories in a research note on Wednesday, March 12th. Finally, Barclays reduced their price target on Silicon Laboratories from $120.00 to $80.00 and set an "equal weight" rating for the company in a report on Tuesday, April 22nd. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and five have given a buy rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $129.00.

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.