Securian Asset Management Inc. reduced its position in shares of Silicon Laboratories Inc. (NASDAQ: SLAB – Get Rating) by 5.6% during the 1st quarter, according to the company in its latest 13F filing with the SEC. The institutional investor held 3,428 shares of the semiconductor company after selling 205 shares during the quarter. Securian Asset Management Inc.’s holdings in Silicon Laboratories were worth $515,000 at the end of last quarter.
A number of other hedge funds and other institutional investors have also recently changed their positions in SLAB. Alliancebernstein LP increased its position in shares of Silicon Laboratories by 40.9% during the fourth quarter. Alliancebernstein LP now owns 891,278 shares of the semiconductor company valued at $183,978,000 after buying an additional 258,534 shares last quarter. Bank of Montreal Can increased its position in shares of Silicon Laboratories by 2,147.8% in the 4th quarter. Bank of Montreal Can now owns 79,213 shares of the semiconductor company worth $16,347,000 after purchasing an additional 75,689 shares during the period. Allspring Global Investments Holdings LLC bought a new position in Silicon Laboratories during Q4, valued at approximately $14,071,000. Fuller & Thaler Asset Management Inc. acquired a new stake in Silicon Laboratories during the fourth quarter valued at approximately $12,463,000. Finally, Renaissance Technologies LLC acquired a new stake in Silicon Laboratories during the fourth quarter worth approximately $10,981,000. Hedge funds and other institutional investors own 99.40% of the company’s shares.
Analyst upgrades and downgrades
Several research companies have recently published reports on SLAB. Cowen raised its price target on shares of Silicon Laboratories from $170.00 to $175.00 in a report released Thursday. Cowen raised its target price on Silicon Laboratories from $170.00 to $175.00 in a report released Thursday. Wells Fargo & Company cut its price target on Silicon Laboratories from $190.00 to $170.00 and set an “overweight” rating on the stock in a Monday, July 11 research note. Summit Insights moved shares of Silicon Laboratories from a “buy” rating to a “hold” rating in a research note on Thursday. Finally, Stifel Nicolaus raised his price target on Silicon Laboratories shares from $200.00 to $210.00 in a report on Wednesday, April 27. Four investment analysts gave the stock a hold rating and four gave the stock a buy rating. According to data from MarketBeat.com, the stock currently has a consensus rating of “moderate buy” and an average target price of $181.38.
Silicon Labs Price Performance
Shares of NASDAQ:SLAB opened at $147.69 on Friday. The company has a 50-day simple moving average of $138.74 and a two-hundred-day simple moving average of $145.93. The company has a debt ratio of 0.26, a quick ratio of 8.40 and a current ratio of 8.62. The company has a market capitalization of $5.40 billion, a price-earnings ratio of 3.10 and a beta of 1.20. Silicon Laboratories Inc. has a fifty-two week low of $114.52 and a fifty-two week high of $211.98.
Silicon Laboratories (NASDAQ:SLAB – Get Rating) last released quarterly earnings data on Wednesday, July 27. The semiconductor company reported earnings per share of $1.17 for the quarter, beating the consensus estimate of $0.91 by $0.26. Silicon Laboratories had a net margin of 266.91% and a return on equity of 4.08%. The company posted revenue of $263.00 million in the quarter, compared to $250.46 million expected by analysts. During the same period of the previous year, the company made earnings per share of $0.81. The company’s quarterly revenue increased 55.6% year over year. On average, analysts expect Silicon Laboratories Inc. to post earnings per share of 2.38 for the current year.
In related news, CEO Robert Matthew Johnson sold 5,435 shares of Silicon Laboratories in a trade on Monday, June 6. The stock was sold at an average price of $149.38, for a total value of $811,880.30. Following the completion of the sale, the CEO now owns 26,873 shares of the company, valued at $4,014,288.74. The sale was disclosed in a filing with the Securities & Exchange Commission, accessible via this hyperlink. In other Silicon Laboratories news, Director William G. Bock sold 1,000 shares in a trade that took place on Monday, May 16. The shares were sold at an average price of $141.45, for a total value of $141,450.00. As a result of the transaction, the administrator now directly owns 32,468 shares of the company, valued at $4,592,598.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, accessible via this hyperlink. Additionally, CEO Robert Matthew Johnson sold 5,435 shares of the company in a trade on Monday, June 6. The shares were sold at an average price of $149.38, for a total transaction of $811,880.30. As a result of the sale, the CEO now directly owns 26,873 shares of the company, valued at approximately $4,014,288.74. The disclosure of this sale can be found here. Insiders own 1.61% of the shares of the company.
About Silicon Labs
(Get an assessment)
Silicon Laboratories Inc, a fabless semiconductor company, provides various analog-intensive mixed-signal solutions in the United States, China and around the world. The Company’s products include wireless microcontrollers and sensing products. Its products are used in various electronic products in a range of applications for the Internet of Things (IoT), including connected home and security, industrial automation and control, smart meters, smart lighting, commercial building automation, consumer electronics, asset tracking and medical instrumentation.
Want to see which other hedge funds hold SLAB? Visit HoldingsChannel.com for the latest 13F filings and insider trading for Silicon Laboratories Inc. (NASDAQ: SLAB – Get Rating).
Receive daily news and reviews for Silicon Laboratories – Enter your email address below to receive a concise daily summary of breaking news and analyst ratings for Silicon Laboratories and related companies with MarketBeat.com’s free daily email newsletter.