Wells Fargo & Company MN Boosts Stake in Silicon Laboratories Inc. (NASDAQ:SLAB)

Wells Fargo & Company MN grew its position in Silicon Laboratories Inc. (NASDAQ:SLAB - Free Report) by 10.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 40,988 shares of the semiconductor company's stock after purchasing an additional 3,996 shares during the quarter. Wells Fargo & Company MN owned approximately 0.13% of Silicon Laboratories worth $5,092,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of SLAB. Vanguard Group Inc. raised its position in shares of Silicon Laboratories by 1.9% during the fourth quarter. Vanguard Group Inc. now owns 3,959,580 shares of the semiconductor company's stock valued at $491,859,000 after buying an additional 71,942 shares during the last quarter. GW&K Investment Management LLC increased its holdings in Silicon Laboratories by 5.6% in the 4th quarter. GW&K Investment Management LLC now owns 682,045 shares of the semiconductor company's stock valued at $84,723,000 after acquiring an additional 36,330 shares during the last quarter. Loomis Sayles & Co. L P lifted its stake in Silicon Laboratories by 2.0% in the 4th quarter. Loomis Sayles & Co. L P now owns 469,883 shares of the semiconductor company's stock worth $58,368,000 after purchasing an additional 8,992 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in shares of Silicon Laboratories by 5.3% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 439,796 shares of the semiconductor company's stock valued at $54,631,000 after purchasing an additional 21,991 shares during the last quarter. Finally, American Century Companies Inc. increased its holdings in shares of Silicon Laboratories by 9.2% in the fourth quarter. American Century Companies Inc. now owns 343,131 shares of the semiconductor company's stock worth $42,624,000 after purchasing an additional 28,867 shares during the last quarter.

Insider Activity

In other Silicon Laboratories news, Director William G. Bock sold 1,000 shares of Silicon Laboratories stock in a transaction 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 sale, the director now directly owns 31,115 shares of the company's stock, valued at $4,649,514.45. The trade was a 3.11 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Navdeep S. Sooch sold 2,360 shares of the stock in a transaction on 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 directly owns 400,567 shares in the company, valued at $59,684,483. The trade was a 0.59 % decrease in their position. The disclosure for this sale can be found here. Insiders own 1.60% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the company. Needham & Company LLC restated a "buy" rating and set a $150.00 price target on shares of Silicon Laboratories in a report on Wednesday, March 12th. Benchmark restated a "buy" rating and issued a $160.00 price target on shares of Silicon Laboratories in a research report on Wednesday, March 12th. KeyCorp increased their price objective on shares of Silicon Laboratories from $115.00 to $160.00 and gave the company an "overweight" rating in a research report on Wednesday, January 22nd. Stifel Nicolaus decreased their target price on shares of Silicon Laboratories from $145.00 to $120.00 and set a "buy" rating on the stock in a research report on Thursday, April 17th. Finally, Barclays dropped their price target on Silicon Laboratories from $120.00 to $80.00 and set an "equal weight" rating for the company in a research report on Tuesday. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and six have given a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $129.70.

Silicon Laboratories Stock Down 2.1 %

SLAB traded down $2.17 during trading hours on Friday, reaching $101.71. 93,701 shares of the company's stock traded hands, compared to its average volume of 327,869. The firm has a 50-day moving average price of $117.68 and a 200 day moving average price of $121.04. The firm has a market capitalization of $3.30 billion, a PE ratio of -17.24 and a beta of 1.33. Silicon Laboratories Inc. has a 52-week low of $82.82 and a 52-week high of $160.00.

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

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.