By otakuyassine3@gmail.com 
Arizona State Retirement System increased its holdings in shares of Silicon Laboratories Inc. (NASDAQ:SLAB – Free Report) by 1.8% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 9,360 shares of the semiconductor company’s stock after purchasing an additional 167 shares during the period. Arizona State Retirement System’s holdings in Silicon Laboratories were worth $1,163,000 at the end of the most recent reporting period.
Other large investors have also made changes to their positions in the company. Jones Financial Companies Lllp lifted its position in shares of Silicon Laboratories by 44.5% during the 4th quarter. Jones Financial Companies Lllp now owns 224 shares of the semiconductor company’s stock worth $28,000 after purchasing an additional 69 shares during the last quarter. Advisors Asset Management Inc. lifted its position in shares of Silicon Laboratories by 159.4% during the 3rd quarter. Advisors Asset Management Inc. now owns 275 shares of the semiconductor company’s stock worth $32,000 after purchasing an additional 169 shares during the last quarter. Venturi Wealth Management LLC lifted its position in shares of Silicon Laboratories by 207.0% during the 4th 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 last quarter. Asset Management One Co. Ltd. acquired a new position in shares of Silicon Laboratories during the 4th quarter worth about $117,000. Finally, KBC Group NV lifted its position in shares of Silicon Laboratories by 42.1% during the 4th quarter. KBC Group NV now owns 1,279 shares of the semiconductor company’s stock worth $159,000 after purchasing an additional 379 shares during the last quarter.
Analyst Upgrades and Downgrades
Several research firms recently weighed in on SLAB. Benchmark reissued a “buy” rating and set a $160.00 price objective on shares of Silicon Laboratories in a research report on Wednesday. Susquehanna started coverage on Silicon Laboratories in a report on Tuesday, December 17th. They issued a “neutral” rating and a $130.00 price target for the company. Needham & Company LLC reaffirmed a “buy” rating and issued a $150.00 price target on shares of Silicon Laboratories in a report on Wednesday. KeyCorp upped their price target on Silicon Laboratories from $115.00 to $160.00 and gave the company an “overweight” rating in a report on Wednesday, January 22nd. Finally, Barclays upped their price target on Silicon Laboratories from $75.00 to $120.00 and gave the company an “equal weight” rating in a report on Friday, January 17th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, Silicon Laboratories currently has an average rating of “Hold” and an average target price of $136.20.
Check Out Our Latest Stock Analysis on SLAB
Insider Activity at Silicon Laboratories
In related news, Director William G. Bock sold 2,000 shares of the firm’s stock in a transaction on Wednesday, January 22nd. The stock was sold at an average price of $140.77, for a total transaction of $281,540.00. Following the completion of the sale, the director now directly owns 32,115 shares of the company’s stock, valued at $4,520,828.55. This trade represents a 5.86 % decrease in their position. The transaction 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 firm’s stock in a transaction on Wednesday, February 5th. The shares were sold at an average price of $149.00, for a total value of $351,640.00. Following the sale, the director now directly owns 400,567 shares of the company’s stock, valued at $59,684,483. This represents a 0.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 5,360 shares of company stock valued at $782,610 in the last three months. Corporate insiders own 1.72% of the company’s stock.
Silicon Laboratories Trading Down 0.6 %
Shares of SLAB opened at $120.98 on Friday. Silicon Laboratories Inc. has a 1 year low of $94.00 and a 1 year high of $160.00. The stock has a 50 day simple moving average of $138.66 and a 200-day simple moving average of $122.76. The stock has a market cap of $3.93 billion, a PE ratio of -20.37 and a beta of 1.15.
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, hitting 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 business had revenue of $166.25 million during the quarter, compared to analysts’ expectations of $166.09 million. During the same period in the prior year, the firm posted ($1.19) EPS. Silicon Laboratories’s quarterly revenue was up 91.4% compared to the same quarter last year. On average, sell-side analysts forecast that Silicon Laboratories Inc. will post -0.97 EPS for the current fiscal year.
Silicon Laboratories Company 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.
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