Silicon Laboratories Inc. (NASDAQ:SLAB) Shares Acquired by Wealth Enhancement Advisory Services LLC

Wealth Enhancement Advisory Services LLC boosted its position in shares of Silicon Laboratories Inc. (NASDAQ:SLAB) by 9.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,334 shares of the semiconductor company’s stock after purchasing an additional 206 shares during the period. Wealth Enhancement Advisory Services LLC’s holdings in Silicon Laboratories were worth $290,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the company. Capital Research Global Investors grew its holdings in Silicon Laboratories by 23.3% during the 4th quarter. Capital Research Global Investors now owns 2,131,920 shares of the semiconductor company’s stock worth $264,827,000 after acquiring an additional 403,010 shares in the last quarter. Norges Bank acquired a new position in Silicon Laboratories during the 4th quarter worth $34,622,000. Invesco Ltd. lifted its position in shares of Silicon Laboratories by 46.9% in the 4th quarter. Invesco Ltd. now owns 595,382 shares of the semiconductor company’s stock worth $73,958,000 after buying an additional 190,085 shares during the last quarter. Raymond James Financial Inc. bought a new position in shares of Silicon Laboratories in the 4th quarter worth about $14,252,000. Finally, Alliancebernstein L.P. lifted its position in Silicon Laboratories by 58.2% in the 4th quarter. Alliancebernstein L.P. now owns 240,321 shares of the semiconductor company’s stock valued at $29,853,000 after purchasing an additional 88,438 shares during the last quarter.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on SLAB. Stifel Nicolaus cut their price objective on shares of Silicon Laboratories from $145.00 to $120.00 and set a “buy” rating on the stock in a research report on Thursday, April 17th. Benchmark reissued a “buy” rating and issued a $160.00 target price on shares of Silicon Laboratories in a research report on Tuesday, May 27th. Wall Street Zen raised shares of Silicon Laboratories from a “sell” rating to a “hold” rating in a research report on Wednesday, May 14th. Needham & Company LLC reiterated a “buy” rating and issued a $150.00 target price on shares of Silicon Laboratories in a research note on Wednesday, May 14th. Finally, Susquehanna lifted their target price on shares of Silicon Laboratories from $100.00 to $110.00 and gave the company a “neutral” rating in a research note on Wednesday, May 14th. Four investment analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, Silicon Laboratories has a consensus rating of “Moderate Buy” and an average price target of $126.50.

Silicon Laboratories Trading Down 2.3%

Shares of Silicon Laboratories stock opened at $137.87 on Monday. The firm has a fifty day simple moving average of $113.61 and a 200-day simple moving average of $124.17. Silicon Laboratories Inc. has a 1-year low of $82.82 and a 1-year high of $160.00. The stock has a market capitalization of $4.49 billion, a price-to-earnings ratio of -23.21 and a beta of 1.42.

Silicon Laboratories (NASDAQ:SLAB) last announced its earnings results on Tuesday, May 13th. The semiconductor company reported ($0.08) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.09) by $0.01. The business had revenue of $177.71 million for the quarter, compared to analyst estimates of $177.48 million. Silicon Laboratories had a negative net margin of 32.69% and a negative return on equity of 10.46%. Silicon Laboratories’s revenue was up 67.0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($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 year.

Insider Buying and Selling at Silicon Laboratories

In other news, Director Christy Wyatt sold 546 shares of the company’s stock in a transaction dated Tuesday, May 6th. The shares were sold at an average price of $104.45, for a total value of $57,029.70. Following the sale, the director now owns 8,492 shares of the company’s stock, valued at approximately $886,989.40. This represents a 6.04% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Robert J. Conrad sold 1,172 shares of the company’s stock in a transaction dated Tuesday, May 13th. The stock was sold at an average price of $130.00, for a total transaction of $152,360.00. Following the completion of the sale, the senior vice president now directly owns 15,972 shares in the company, valued at approximately $2,076,360. The trade was a 6.84% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 11,626 shares of company stock valued at $1,509,319 in the last 90 days. 1.60% of the stock is currently owned by company insiders.

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.