Millennium Management LLC Acquires 738 Shares of Silicon Laboratories Inc. (NASDAQ:SLAB)

Millennium Management LLC boosted its position in shares of Silicon Laboratories Inc. (NASDAQ:SLAB) by 27.3% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 3,438 shares of the semiconductor company’s stock after acquiring an additional 738 shares during the period. Millennium Management LLC’s holdings in Silicon Laboratories were worth $427,000 as of its most recent filing with the Securities & Exchange Commission.

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

Insider Activity

In related news, Director Christy Wyatt sold 546 shares of the stock in a transaction dated Tuesday, May 6th. The shares were sold at an average price of $104.45, for a total transaction 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 represents a 6.04% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Robert Matthew Johnson sold 5,879 shares of the stock in a transaction dated Friday, May 16th. The stock was sold at an average price of $131.20, for a total transaction 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 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. Insiders own 1.60% of the company’s stock.

Silicon Laboratories Trading Up 6.6%

Shares of SLAB stock opened at $134.98 on Tuesday. The firm has a fifty day moving average price of $109.90 and a 200 day moving average price of $123.35. The company has a market cap of $4.40 billion, a P/E ratio of -22.72 and a beta of 1.42. Silicon Laboratories Inc. has a 12 month low of $82.82 and a 12 month high of $160.00.

Silicon Laboratories (NASDAQ:SLAB) last issued its earnings results on Tuesday, May 13th. The semiconductor company reported ($0.08) EPS for the quarter, topping analysts’ consensus estimates of ($0.09) by $0.01. Silicon Laboratories had a negative net margin of 32.69% and a negative return on equity of 10.46%. The firm had revenue of $177.71 million during the quarter, compared to the consensus estimate of $177.48 million. During the same quarter in the previous year, the firm posted ($0.92) earnings per share. The company’s revenue was up 67.0% compared to the same quarter last year. On average, equities analysts forecast that Silicon Laboratories Inc. will post -0.97 EPS for the current year.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on SLAB. Needham & Company LLC reiterated a “buy” rating and issued a $150.00 target price on shares of Silicon Laboratories 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 research report on Tuesday, May 27th. Susquehanna lifted their target price on shares of Silicon Laboratories from $100.00 to $110.00 and gave the stock a “neutral” rating in a research note on Wednesday, May 14th. Stifel Nicolaus reduced their price target on shares of Silicon Laboratories from $145.00 to $120.00 and set a “buy” rating on the stock in a research note on Thursday, April 17th. Finally, Wall Street Zen raised shares of Silicon Laboratories from a “sell” rating to a “hold” rating in a research note on Wednesday, May 14th. Four analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $126.50.

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.