Silvercrest Asset Management Group LLC increased its stake in Silicon Laboratories Inc. (NASDAQ:SLAB - Free Report) by 45.7% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 232,208 shares of the semiconductor company's stock after purchasing an additional 72,783 shares during the quarter. Silvercrest Asset Management Group LLC owned 0.72% of Silicon Laboratories worth $28,845,000 at the end of the most recent quarter.
A number of other large investors have also made changes to their positions in SLAB. Jones Financial Companies Lllp increased its holdings in shares of 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 purchasing an additional 69 shares in the last quarter. Headlands Technologies LLC purchased a new position in shares of Silicon Laboratories in the 4th quarter valued at about $70,000. Venturi Wealth Management LLC increased its holdings in shares of Silicon Laboratories by 207.0% in the 4th quarter. Venturi Wealth Management LLC now owns 786 shares of the semiconductor company's stock valued at $98,000 after purchasing an additional 530 shares in the last quarter. Asset Management One Co. Ltd. purchased a new position in shares of Silicon Laboratories in the 4th quarter valued at about $117,000. Finally, KBC Group NV increased its holdings in shares of Silicon Laboratories by 42.1% in the 4th 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 in the last quarter.
Analysts Set New Price Targets
A number of equities analysts have recently issued reports on SLAB shares. Barclays cut their price target on shares of Silicon Laboratories from $120.00 to $80.00 and set an "equal weight" rating for the company in a report on Tuesday, April 22nd. KeyCorp raised their target price 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. Susquehanna raised their target price on shares of Silicon Laboratories from $100.00 to $110.00 and gave the company a "neutral" rating in a report on Wednesday, May 14th. Needham & Company LLC restated a "buy" rating and set a $150.00 target price on shares of Silicon Laboratories in a report on Wednesday, May 14th. Finally, Benchmark restated a "buy" rating and set a $160.00 target price on shares of Silicon Laboratories in a report on Wednesday, May 14th. Four research analysts have rated the stock with a hold rating and five have given a buy rating to the company's stock. According to MarketBeat, Silicon Laboratories has a consensus rating of "Moderate Buy" and an average target price of $126.50.
Get Our Latest Analysis on SLAB
Silicon Laboratories Stock Up 0.6%
Shares of SLAB stock traded up $0.75 during trading hours on Tuesday, hitting $128.50. 391,798 shares of the company were exchanged, compared to its average volume of 337,284. The firm has a fifty day moving average of $108.85 and a 200 day moving average of $121.36. Silicon Laboratories Inc. has a 1 year low of $82.82 and a 1 year high of $160.00. The firm has a market cap of $4.19 billion, a PE ratio of -21.63 and a beta of 1.36.
Silicon Laboratories (NASDAQ:SLAB - Get Free Report) last released its earnings results on Tuesday, May 13th. The semiconductor company reported ($0.08) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.09) by $0.01. Silicon Laboratories had a negative net margin of 32.69% and a negative return on equity of 10.46%. The firm had revenue of $177.71 million during the quarter, compared to the consensus estimate of $177.48 million. During the same period in the previous year, the firm earned ($0.92) earnings per share. Silicon Laboratories's revenue was up 67.0% compared to the same quarter last year. Analysts expect that Silicon Laboratories Inc. will post -0.97 earnings per share for the current year.
Insider Activity at Silicon Laboratories
In other Silicon Laboratories news, SVP Robert J. Conrad sold 4,029 shares of the business's stock in a transaction that occurred on Friday, May 16th. The shares were sold at an average price of $131.20, for a total transaction of $528,604.80. Following the completion of the sale, the senior vice president now directly owns 25,380 shares in the company, valued at $3,329,856. The trade was a 13.70% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Robert Matthew Johnson sold 5,879 shares of the firm's stock in a transaction dated Friday, May 16th. The shares were sold at an average price of $131.20, for a total value of $771,324.80. Following the completion of the transaction, the chief executive officer now directly owns 73,688 shares in the company, valued at $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 sold 11,626 shares of company stock worth $1,509,319. 1.60% of the stock is owned by company insiders.
Silicon Laboratories Company Profile
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Free Report)
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.
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