LPL Financial LLC Grows Stake in Silicon Laboratories Inc. (NASDAQ:SLAB)

LPL Financial LLC lifted its stake in shares of Silicon Laboratories Inc. (NASDAQ:SLAB) by 36.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 30,942 shares of the semiconductor company’s stock after purchasing an additional 8,289 shares during the period. LPL Financial LLC owned 0.10% of Silicon Laboratories worth $3,994,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of the stock. Captrust Financial Advisors increased its holdings in Silicon Laboratories by 26.2% in the 3rd quarter. Captrust Financial Advisors now owns 4,330 shares of the semiconductor company’s stock worth $500,000 after acquiring an additional 900 shares during the last quarter. Stifel Financial Corp lifted its stake in shares of Silicon Laboratories by 1.7% during the 3rd quarter. Stifel Financial Corp now owns 104,586 shares of the semiconductor company’s stock valued at $12,087,000 after buying an additional 1,719 shares in the last quarter. MML Investors Services LLC boosted its holdings in Silicon Laboratories by 5.3% in the 3rd quarter. MML Investors Services LLC now owns 7,328 shares of the semiconductor company’s stock worth $847,000 after buying an additional 370 shares during the period. Barclays PLC raised its holdings in Silicon Laboratories by 23.4% during the 3rd quarter. Barclays PLC now owns 70,568 shares of the semiconductor company’s stock valued at $8,157,000 after acquiring an additional 13,363 shares during the period. Finally, Geode Capital Management LLC lifted its position in shares of Silicon Laboratories by 2.1% during the third quarter. Geode Capital Management LLC now owns 781,049 shares of the semiconductor company’s stock worth $90,282,000 after acquiring an additional 15,728 shares in the last quarter.

Insiders Place Their Bets

In related news, Director Navdeep S. Sooch sold 2,360 shares of the firm’s stock in a transaction dated Wednesday, February 5th. The stock was sold at an average price of $149.00, for a total transaction 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 trade represents a 0.59 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director William G. Bock sold 2,000 shares of the firm’s stock in a transaction that occurred 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 sale, the director now directly owns 32,115 shares in the company, valued at $4,520,828.55. The trade was a 5.86 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 5,360 shares of company stock worth $782,610 in the last three months. Corporate insiders own 1.60% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently issued reports on SLAB. Needham & Company LLC reissued a “buy” rating and issued a $150.00 price target on shares of Silicon Laboratories in a report on Wednesday, March 12th. Benchmark reissued a “buy” rating and issued a $160.00 price target on shares of Silicon Laboratories in a report on Wednesday, March 12th. Susquehanna assumed coverage on shares of Silicon Laboratories in a research report on Tuesday, December 17th. They set a “neutral” rating and a $130.00 price target for the company. KeyCorp increased their price objective on Silicon Laboratories from $115.00 to $160.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 22nd. Finally, Barclays boosted their target price on Silicon Laboratories from $75.00 to $120.00 and gave the stock an “equal weight” rating in a research report on Friday, January 17th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $136.20.

Silicon Laboratories Trading Down 11.3 %

Shares of Silicon Laboratories stock opened at $88.19 on Friday. The stock has a 50 day moving average of $128.51 and a 200 day moving average of $122.63. Silicon Laboratories Inc. has a 12 month low of $82.82 and a 12 month high of $160.00. The firm has a market cap of $2.86 billion, a PE ratio of -14.85 and a beta of 1.33.

Silicon Laboratories (NASDAQ:SLAB) last announced its earnings results on Tuesday, February 4th. The semiconductor company reported ($0.11) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.11). The business had revenue of $166.25 million during the quarter, compared to analyst estimates of $166.09 million. Silicon Laboratories had a negative return on equity of 10.46% and a negative net margin of 32.69%. The company’s revenue for the quarter was up 91.4% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($1.19) earnings per share. As a group, equities research analysts forecast that Silicon Laboratories Inc. will post -0.97 earnings per share 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.