Principal Financial Group Inc. Acquires 12,811 Shares of Silicon Laboratories Inc. (NASDAQ:SLAB)

Principal Financial Group Inc. increased its holdings in shares of Silicon Laboratories Inc. (NASDAQ:SLABGet Rating) by 9.6% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 145,883 shares of the semiconductor company’s stock after acquiring an additional 12,811 shares during the period. Principal Financial Group Inc. owned approximately 0.43% of Silicon Laboratories worth $20,456,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of SLAB. Daiwa Securities Group Inc. raised its holdings in Silicon Laboratories by 45.8% in the first quarter. Daiwa Securities Group Inc. now owns 656 shares of the semiconductor company’s stock worth $99,000 after buying an additional 206 shares during the last quarter. Signaturefd LLC raised its holdings in Silicon Laboratories by 158.5% in the first quarter. Signaturefd LLC now owns 336 shares of the semiconductor company’s stock worth $50,000 after buying an additional 206 shares during the last quarter. Envestnet Asset Management Inc. raised its holdings in Silicon Laboratories by 9.9% in the first quarter. Envestnet Asset Management Inc. now owns 55,574 shares of the semiconductor company’s stock worth $8,347,000 after buying an additional 4,990 shares during the last quarter. Stephens Investment Management Group LLC raised its holdings in Silicon Laboratories by 1.7% in the first quarter. Stephens Investment Management Group LLC now owns 460,702 shares of the semiconductor company’s stock worth $69,197,000 after buying an additional 7,922 shares during the last quarter. Finally, Royce & Associates LP raised its holdings in Silicon Laboratories by 9.1% in the first quarter. Royce & Associates LP now owns 24,000 shares of the semiconductor company’s stock worth $3,605,000 after buying an additional 2,000 shares during the last quarter. Institutional investors own 99.62% of the company’s stock.

Analysts Set New Price Targets

SLAB has been the subject of several recent analyst reports. KeyCorp decreased their target price on shares of Silicon Laboratories from $180.00 to $160.00 and set an “overweight” rating for the company in a report on Thursday, October 27th. Morgan Stanley decreased their price objective on shares of Silicon Laboratories from $161.00 to $151.00 and set an “equal weight” rating for the company in a report on Thursday, October 27th. Barclays decreased their price objective on shares of Silicon Laboratories from $95.00 to $85.00 in a report on Thursday, October 27th. Summit Insights cut shares of Silicon Laboratories from a “buy” rating to a “hold” rating in a report on Thursday, July 28th. Finally, StockNews.com initiated coverage on shares of Silicon Laboratories in a report on Wednesday, October 12th. They set a “hold” rating for the company. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $152.00.

Insider Buying and Selling at Silicon Laboratories

In other Silicon Laboratories news, Director Christy Wyatt sold 1,495 shares of the company’s stock in a transaction that occurred on Wednesday, August 24th. The shares were sold at an average price of $134.44, for a total transaction of $200,987.80. Following the completion of the sale, the director now directly owns 5,222 shares of the company’s stock, valued at $702,045.68. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other Silicon Laboratories news, Director Nina Richardson sold 1,351 shares of the company’s stock in a transaction that occurred on Tuesday, November 15th. The shares were sold at an average price of $145.00, for a total value of $195,895.00. Following the completion of the transaction, the director now directly owns 6,820 shares in the company, valued at $988,900. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Christy Wyatt sold 1,495 shares of the company’s stock in a transaction that occurred on Wednesday, August 24th. The stock was sold at an average price of $134.44, for a total transaction of $200,987.80. Following the completion of the transaction, the director now owns 5,222 shares of the company’s stock, valued at $702,045.68. The disclosure for this sale can be found here. 1.61% of the stock is owned by corporate insiders.

Silicon Laboratories Stock Down 2.1 %

Shares of SLAB stock opened at $137.64 on Tuesday. Silicon Laboratories Inc. has a 12 month low of $109.44 and a 12 month high of $211.98. The stock has a market cap of $4.58 billion, a P/E ratio of 80.97 and a beta of 1.05. The company has a current ratio of 7.90, a quick ratio of 7.47 and a debt-to-equity ratio of 0.34. The company has a 50 day simple moving average of $126.04 and a two-hundred day simple moving average of $133.92.

About Silicon Laboratories

(Get Rating)

Silicon Laboratories Inc, a fabless semiconductor company, provides various analog-intensive mixed-signal solutions in the United States, China, 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 Internet of Things (IoT), including connected home and security, industrial automation and control, smart metering, smart lighting, commercial building automation, consumer electronics, asset tracking, and medical instrumentation.

Further Reading

Institutional Ownership by Quarter for Silicon Laboratories (NASDAQ:SLAB)

Receive News & Ratings for Silicon Laboratories Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Silicon Laboratories and related companies with MarketBeat.com's FREE daily email newsletter.