Silvercrest Asset Management Group LLC Buys 72,783 Shares of Silicon Laboratories Inc. (NASDAQ:SLAB)

Silvercrest Asset Management Group LLC boosted its stake in Silicon Laboratories Inc. (NASDAQ:SLAB - Free Report) by 45.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 232,208 shares of the semiconductor company's stock after purchasing an additional 72,783 shares during the period. Silvercrest Asset Management Group LLC owned about 0.72% of Silicon Laboratories worth $28,845,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Jones Financial Companies Lllp raised its holdings in Silicon Laboratories by 44.5% in the 4th quarter. Jones Financial Companies Lllp now owns 224 shares of the semiconductor company's stock valued at $28,000 after buying an additional 69 shares during the last quarter. Headlands Technologies LLC bought a new position in shares of Silicon Laboratories during the fourth quarter valued at $70,000. Venturi Wealth Management LLC lifted its holdings in shares of 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 purchasing an additional 530 shares during the period. Asset Management One Co. Ltd. bought a new stake in shares of Silicon Laboratories in the fourth quarter worth $117,000. Finally, KBC Group NV increased its holdings 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 purchasing an additional 379 shares during the period.

Silicon Laboratories Trading Down 0.3%

SLAB stock traded down $0.34 during trading on Thursday, reaching $124.52. 66,575 shares of the stock were exchanged, compared to its average volume of 336,506. The firm's 50 day moving average is $109.01 and its 200 day moving average is $121.44. The firm has a market cap of $4.06 billion, a P/E ratio of -20.91 and a beta of 1.36. Silicon Laboratories Inc. has a twelve month low of $82.82 and a twelve month high of $160.00.

Silicon Laboratories (NASDAQ:SLAB - Get Free Report) last issued its earnings results on Tuesday, May 13th. The semiconductor company reported ($0.08) earnings per share for the quarter, topping analysts' consensus estimates of ($0.09) by $0.01. Silicon Laboratories had a negative return on equity of 10.46% and a negative net margin of 32.69%. The company had revenue of $177.71 million for the quarter, compared to analyst estimates of $177.48 million. During the same period in the prior year, the firm earned ($0.92) earnings per share. Silicon Laboratories's revenue for the quarter was up 67.0% on a year-over-year basis. As a group, analysts predict that Silicon Laboratories Inc. will post -0.97 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on SLAB shares. Stifel Nicolaus decreased 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. Benchmark reissued a "buy" rating and set a $160.00 target price on shares of Silicon Laboratories in a research report on Wednesday, May 14th. KeyCorp raised their price target on shares of Silicon Laboratories from $115.00 to $160.00 and gave the stock an "overweight" rating in a report on Wednesday, January 22nd. Barclays decreased their price objective on shares of Silicon Laboratories from $120.00 to $80.00 and set an "equal weight" rating for the company in a research report on Tuesday, April 22nd. Finally, Wall Street Zen upgraded Silicon Laboratories from a "sell" rating to a "hold" rating in a research report on Wednesday, May 14th. Four research analysts have rated the stock with a hold rating and five have issued a buy rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $126.50.

Insider Buying and Selling at Silicon Laboratories

In related news, SVP Robert J. Conrad sold 1,172 shares of the company's stock in a transaction on Tuesday, May 13th. The stock was sold at an average price of $130.00, for a total transaction of $152,360.00. Following the completion of the sale, the senior vice president now owns 15,972 shares in the company, valued at approximately $2,076,360. This represents a 6.84% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Robert Matthew Johnson sold 5,879 shares of the firm's stock in a transaction on Friday, May 16th. The shares were sold at an average price of $131.20, for a total value of $771,324.80. Following the transaction, the chief executive officer now owns 73,688 shares in the company, valued at approximately $9,667,865.60. This trade represents a 7.39% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 11,626 shares of company stock valued at $1,509,319. Corporate insiders own 1.60% of the company's stock.

About Silicon Laboratories

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.