Pinebridge Investments L.P. Buys 5,280 Shares of Silicon Laboratories Inc. (NASDAQ:SLAB)

Pinebridge Investments L.P. lifted its holdings in Silicon Laboratories Inc. (NASDAQ:SLAB - Free Report) by 42.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 17,659 shares of the semiconductor company's stock after purchasing an additional 5,280 shares during the period. Pinebridge Investments L.P. owned 0.05% of Silicon Laboratories worth $2,194,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of SLAB. Jones Financial Companies Lllp lifted its stake in shares of Silicon Laboratories by 44.5% in the fourth 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. raised its holdings in Silicon Laboratories by 1.8% in the 4th 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 period. Louisiana State Employees Retirement System lifted its position in Silicon Laboratories by 1.1% during the 4th 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 last quarter. Oppenheimer Asset Management Inc. boosted its holdings in Silicon Laboratories by 1.4% during the fourth quarter. Oppenheimer Asset Management Inc. now owns 7,169 shares of the semiconductor company's stock valued at $891,000 after acquiring an additional 102 shares during the period. Finally, Procyon Advisors LLC grew its position in shares of Silicon Laboratories by 4.4% in the fourth quarter. Procyon Advisors LLC now owns 3,176 shares of the semiconductor company's stock valued at $395,000 after purchasing an additional 133 shares during the last quarter.

Silicon Laboratories Stock Performance

Shares of NASDAQ:SLAB traded up $3.83 during midday trading on Friday, reaching $107.26. 260,495 shares of the company's stock were exchanged, compared to its average volume of 327,792. The company's 50 day simple moving average is $111.68 and its two-hundred day simple moving average is $120.63. Silicon Laboratories Inc. has a 12 month low of $82.82 and a 12 month high of $160.00. The firm has a market capitalization of $3.48 billion, a PE ratio of -18.06 and a beta of 1.33.

Silicon Laboratories (NASDAQ:SLAB - Get Free Report) last released its quarterly earnings data on Tuesday, February 4th. The semiconductor company reported ($0.11) earnings per share for the quarter, meeting 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 for the quarter, compared to the consensus estimate of $166.09 million. During the same period in the previous year, the business earned ($1.19) earnings per share. The company's quarterly revenue was up 91.4% on a year-over-year basis. On average, research analysts anticipate that Silicon Laboratories Inc. will post -0.97 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the company. Needham & Company LLC restated a "buy" rating and set a $150.00 target price on shares of Silicon Laboratories in a research note on Wednesday, March 12th. Stifel Nicolaus reduced their price objective on Silicon Laboratories from $145.00 to $120.00 and set a "buy" rating for the company in a research report on Thursday, April 17th. Barclays dropped their target price on shares of Silicon Laboratories from $120.00 to $80.00 and set an "equal weight" rating on the stock in a research report on Tuesday, April 22nd. KeyCorp increased their price target on shares of Silicon Laboratories from $115.00 to $160.00 and gave the company an "overweight" rating in a report on Wednesday, January 22nd. Finally, Benchmark restated a "buy" rating and set a $160.00 price objective on shares of Silicon Laboratories in a report on Wednesday, March 12th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, Silicon Laboratories has an average rating of "Hold" and an average price target of $129.00.

Insiders Place Their Bets

In related news, Director William G. Bock sold 1,000 shares of the stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $149.43, for a total transaction of $149,430.00. Following the completion of the sale, 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 sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Navdeep S. Sooch sold 2,360 shares of the business's stock in a transaction dated 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 transaction, the director now owns 400,567 shares in the company, 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.