JPMorgan Chase & Co. Increases Position in Silicon Laboratories Inc. (NASDAQ:SLAB)

JPMorgan Chase & Co. raised its stake in shares of Silicon Laboratories Inc. (NASDAQ:SLAB - Free Report) by 50.8% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 159,982 shares of the semiconductor company's stock after acquiring an additional 53,890 shares during the period. JPMorgan Chase & Co. owned about 0.49% of Silicon Laboratories worth $19,873,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in 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. Pacer Advisors Inc. increased its position in shares of Silicon Laboratories by 1.8% during the fourth quarter. Pacer Advisors Inc. now owns 4,839 shares of the semiconductor company's stock valued at $601,000 after acquiring an additional 87 shares during the last quarter. Louisiana State Employees Retirement System boosted its position in Silicon Laboratories by 1.1% in the fourth quarter. Louisiana State Employees Retirement System now owns 9,000 shares of the semiconductor company's stock worth $1,118,000 after purchasing an additional 100 shares during the last quarter. Oppenheimer Asset Management Inc. grew its stake in Silicon Laboratories by 1.4% in the 4th 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 period. Finally, Procyon Advisors LLC raised its position in Silicon Laboratories by 4.4% in the fourth quarter. Procyon Advisors LLC now owns 3,176 shares of the semiconductor company's stock worth $395,000 after acquiring an additional 133 shares during the period.

Insider Buying and Selling

In other Silicon Laboratories news, Director Navdeep S. Sooch sold 2,360 shares of the stock in a transaction dated Wednesday, February 5th. The stock was sold at an average price of $149.00, for a total value of $351,640.00. Following the transaction, the director now owns 400,567 shares of the company's stock, valued at approximately $59,684,483. This represents a 0.59 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director William G. Bock sold 1,000 shares of the 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 completion of the transaction, the director now owns 31,115 shares in the company, valued at $4,649,514.45. This trade represents a 3.11 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 5,360 shares of company stock worth $782,610 in the last three months. Insiders own 1.60% of the company's stock.

Silicon Laboratories Trading Down 3.4 %

SLAB traded down $3.12 during midday trading on Wednesday, reaching $88.48. The company's stock had a trading volume of 46,960 shares, compared to its average volume of 330,186. The stock's 50-day moving average is $125.30 and its 200-day moving average is $122.10. Silicon Laboratories Inc. has a 1 year low of $82.82 and a 1 year high of $160.00. The firm has a market capitalization of $2.87 billion, a price-to-earnings ratio of -14.90 and a beta of 1.33.

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

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on SLAB shares. Stifel Nicolaus increased their price objective on Silicon Laboratories from $135.00 to $145.00 and gave the stock a "buy" rating in a research report on Monday, January 6th. Needham & Company LLC reaffirmed a "buy" rating and set a $150.00 price objective on shares of Silicon Laboratories in a research note on Wednesday, March 12th. Susquehanna assumed coverage on shares of Silicon Laboratories in a report on Tuesday, December 17th. They set a "neutral" rating and a $130.00 price target for the company. Barclays boosted their price objective on shares of Silicon Laboratories from $75.00 to $120.00 and gave the company an "equal weight" rating in a research report on Friday, January 17th. Finally, StockNews.com downgraded Silicon Laboratories from a "hold" rating to a "sell" rating in a report on Thursday, March 27th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and six have issued a buy rating to the company's stock. According to MarketBeat.com, Silicon Laboratories currently has a consensus rating of "Hold" and an average price target of $136.20.

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.