Ameriprise Financial Inc. Has $4.72 Million Stock Position in Silicon Laboratories Inc. (NASDAQ:SLAB)

Ameriprise Financial Inc. increased its stake in Silicon Laboratories Inc. (NASDAQ:SLAB) by 9.9% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 37,992 shares of the semiconductor company’s stock after purchasing an additional 3,436 shares during the quarter. Ameriprise Financial Inc. owned approximately 0.12% of Silicon Laboratories worth $4,719,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Raymond James Financial Inc. acquired a new position in Silicon Laboratories during the fourth quarter valued at $14,252,000. Arizona State Retirement System grew its stake in Silicon Laboratories by 1.8% during the 4th quarter. Arizona State Retirement System now owns 9,360 shares of the semiconductor company’s stock valued at $1,163,000 after acquiring an additional 167 shares in the last quarter. Barclays PLC grew its stake 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 in the last quarter. Pacer Advisors Inc. increased its holdings in shares of Silicon Laboratories by 1.8% in the 4th quarter. Pacer Advisors Inc. now owns 4,839 shares of the semiconductor company’s stock valued at $601,000 after purchasing an additional 87 shares during the period. Finally, Principal Securities Inc. lifted its position in shares of Silicon Laboratories by 12.2% in the fourth quarter. Principal Securities Inc. now owns 3,392 shares of the semiconductor company’s stock worth $421,000 after purchasing an additional 368 shares in the last quarter.

Analyst Ratings Changes

A number of brokerages recently commented on SLAB. Wall Street Zen raised shares of Silicon Laboratories from a “sell” rating to a “hold” rating in a research report on Wednesday, May 14th. Susquehanna increased their target price on shares of Silicon Laboratories from $100.00 to $110.00 and gave the stock a “neutral” rating in a research report on Wednesday, May 14th. Benchmark restated a “buy” rating and set a $160.00 price target on shares of Silicon Laboratories in a report on Wednesday, May 14th. Barclays dropped their price target on shares of Silicon Laboratories from $120.00 to $80.00 and set an “equal weight” rating on the stock in a research note on Tuesday, April 22nd. Finally, Needham & Company LLC reissued a “buy” rating and set a $150.00 price objective on shares of Silicon Laboratories in a research report on Wednesday, May 14th. Four research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, Silicon Laboratories currently has an average rating of “Moderate Buy” and an average price target of $126.50.

Silicon Laboratories Stock Down 1.1%

Shares of SLAB opened at $121.43 on Monday. The firm has a market cap of $3.96 billion, a price-to-earnings ratio of -20.44 and a beta of 1.36. Silicon Laboratories Inc. has a 12 month low of $82.82 and a 12 month high of $160.00. The company’s fifty day moving average is $108.85 and its 200-day moving average is $121.77.

Silicon Laboratories (NASDAQ:SLAB) last posted its earnings results on Tuesday, May 13th. The semiconductor company reported ($0.08) earnings per share for the quarter, beating the consensus estimate of ($0.09) by $0.01. The company had revenue of $177.71 million for the quarter, compared to analyst estimates of $177.48 million. Silicon Laboratories had a negative return on equity of 10.46% and a negative net margin of 32.69%. The business’s revenue was up 67.0% compared to the same quarter last year. During the same period last year, the company earned ($0.92) earnings per share. As a group, research analysts predict that Silicon Laboratories Inc. will post -0.97 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, Director Christy Wyatt sold 546 shares of Silicon Laboratories stock in a transaction dated Tuesday, May 6th. The stock was sold at an average price of $104.45, for a total value of $57,029.70. Following the transaction, the director now directly owns 8,492 shares in the company, valued at approximately $886,989.40. The trade was a 6.04% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Robert Matthew Johnson sold 5,879 shares of the business’s stock in a transaction dated Friday, May 16th. The stock was sold at an average price of $131.20, for a total value of $771,324.80. Following the transaction, the chief executive officer now directly owns 73,688 shares of the company’s stock, valued at $9,667,865.60. This represents a 7.39% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 11,626 shares of company stock valued at $1,509,319. Company insiders own 1.60% of the company’s stock.

Silicon Laboratories 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.