UMB Bank n.a. Raises Stock Holdings in Silicon Laboratories Inc. (NASDAQ:SLAB)

UMB Bank n.a. increased its stake in shares of Silicon Laboratories Inc. (NASDAQ:SLAB) by 111.3% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 336 shares of the semiconductor company’s stock after purchasing an additional 177 shares during the quarter. UMB Bank n.a.’s holdings in Silicon Laboratories were worth $38,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in SLAB. Coldstream Capital Management Inc. increased its position in Silicon Laboratories by 2.8% during the 4th quarter. Coldstream Capital Management Inc. now owns 2,473 shares of the semiconductor company’s stock valued at $307,000 after buying an additional 68 shares in the last quarter. Jones Financial Companies Lllp increased its position in Silicon Laboratories by 44.5% during the 4th quarter. Jones Financial Companies Lllp now owns 224 shares of the semiconductor company’s stock valued at $28,000 after buying an additional 69 shares in the last quarter. Louisiana State Employees Retirement System increased its position in Silicon Laboratories by 1.1% during the 4th quarter. Louisiana State Employees Retirement System now owns 9,000 shares of the semiconductor company’s stock valued at $1,118,000 after buying an additional 100 shares in the last quarter. Oppenheimer Asset Management Inc. increased its position in Silicon Laboratories by 1.4% during the 4th quarter. Oppenheimer Asset Management Inc. now owns 7,169 shares of the semiconductor company’s stock valued at $891,000 after buying an additional 102 shares in the last quarter. Finally, Truist Financial Corp increased its position in Silicon Laboratories by 0.7% during the 4th quarter. Truist Financial Corp now owns 21,699 shares of the semiconductor company’s stock valued at $2,695,000 after buying an additional 151 shares in the last quarter.

Insiders Place Their Bets

In other news, SVP Robert J. Conrad sold 4,029 shares of the firm’s stock in a transaction that occurred on Friday, May 16th. The stock was sold at an average price of $131.20, for a total value of $528,604.80. Following the transaction, the senior vice president now owns 25,380 shares in the company, valued at $3,329,856. This trade represents a 13.70% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Christy Wyatt sold 546 shares of Silicon Laboratories stock in a transaction that occurred 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 transaction, the director now owns 8,492 shares in the company, valued at approximately $886,989.40. The trade was a 6.04% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 11,626 shares of company stock worth $1,509,319. 1.60% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on SLAB shares. Wall Street Zen raised Silicon Laboratories from a “sell” rating to a “hold” rating in a research report on Wednesday, May 14th. Needham & Company LLC reaffirmed a “buy” rating and set a $150.00 target price on shares of Silicon Laboratories in a research report on Wednesday, May 14th. Benchmark reaffirmed a “buy” rating and set a $160.00 target price on shares of Silicon Laboratories in a research report on Tuesday, May 27th. Stifel Nicolaus cut 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 cut 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 issued a buy rating to the stock. Based on data from MarketBeat, Silicon Laboratories presently has an average rating of “Moderate Buy” and a consensus target price of $126.50.

Silicon Laboratories Stock Down 2.3%

Shares of SLAB opened at $137.87 on Monday. Silicon Laboratories Inc. has a 52 week low of $82.82 and a 52 week high of $160.00. The company has a market capitalization of $4.49 billion, a price-to-earnings ratio of -23.21 and a beta of 1.42. The stock’s 50-day moving average price is $113.61 and its 200-day moving average price is $124.17.

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 return on equity of 10.46% and a negative net margin of 32.69%. The firm had revenue of $177.71 million for the quarter, compared to the consensus estimate of $177.48 million. During the same quarter in the prior year, the business earned ($0.92) earnings per share. The company’s revenue was up 67.0% compared to the same quarter last year. As a group, equities analysts anticipate that Silicon Laboratories Inc. will post -0.97 EPS 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.