Silicon Laboratories Inc. (NASDAQ:SLAB) Position Increased by Parallel Advisors LLC

Parallel Advisors LLC raised its position in shares of Silicon Laboratories Inc. (NASDAQ:SLAB) by 143.7% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 463 shares of the semiconductor company’s stock after buying an additional 273 shares during the quarter. Parallel Advisors LLC’s holdings in Silicon Laboratories were worth $52,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Jones Financial Companies Lllp increased its holdings in shares of Silicon Laboratories by 44.5% in the 4th quarter. Jones Financial Companies Lllp now owns 224 shares of the semiconductor company’s stock valued at $28,000 after purchasing an additional 69 shares during the period. Headlands Technologies LLC acquired a new position in shares of Silicon Laboratories in the 4th quarter valued at about $70,000. Venturi Wealth Management LLC increased its holdings in shares of Silicon Laboratories by 207.0% in the 4th quarter. Venturi Wealth Management LLC now owns 786 shares of the semiconductor company’s stock valued at $98,000 after purchasing an additional 530 shares during the period. Asset Management One Co. Ltd. acquired a new position in shares of Silicon Laboratories in the 4th quarter valued at about $117,000. Finally, O Shaughnessy Asset Management LLC acquired a new position in shares of Silicon Laboratories in the 4th quarter valued at about $214,000.

Analyst Ratings Changes

SLAB has been the topic of a number of research reports. Wall Street Zen upgraded Silicon Laboratories from a “sell” rating to a “hold” rating in a report on Wednesday, May 14th. Benchmark restated a “buy” rating and issued a $160.00 price objective on shares of Silicon Laboratories in a report on Tuesday, May 27th. Needham & Company LLC restated a “buy” rating and issued a $150.00 price objective on shares of Silicon Laboratories in a report on Wednesday, May 14th. Stifel Nicolaus dropped their price objective on Silicon Laboratories from $145.00 to $120.00 and set a “buy” rating on the stock in a report on Thursday, April 17th. Finally, Barclays dropped their price objective on Silicon Laboratories from $120.00 to $80.00 and set an “equal weight” rating on the stock in a report on Tuesday, April 22nd. Four investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Silicon Laboratories currently has an average rating of “Moderate Buy” and an average price target of $126.50.

Insider Activity

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

Silicon Laboratories Stock Up 2.1%

Shares of Silicon Laboratories stock opened at $126.60 on Monday. The stock has a market capitalization of $4.12 billion, a P/E ratio of -21.31 and a beta of 1.42. The stock has a 50 day moving average price of $109.53 and a two-hundred day moving average price of $123.15. Silicon Laboratories Inc. has a 12-month low of $82.82 and a 12-month high of $160.00.

Silicon Laboratories (NASDAQ:SLAB) last posted its quarterly earnings data 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. Silicon Laboratories had a negative return on equity of 10.46% and a negative net margin of 32.69%. The company had revenue of $177.71 million during the quarter, compared to analysts’ expectations of $177.48 million. During the same period in the prior year, the business earned ($0.92) earnings per share. Silicon Laboratories’s revenue for the quarter was up 67.0% compared to the same quarter last year. Sell-side analysts anticipate that Silicon Laboratories Inc. will post -0.97 earnings per share for the current year.

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.