GAMMA Investing LLC Increases Holdings in Silicon Laboratories, Inc. (NASDAQ:SLAB)

GAMMA Investing LLC lifted its position in Silicon Laboratories, Inc. (NASDAQ:SLAB) by 99.6% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,126 shares of the semiconductor company’s stock after purchasing an additional 562 shares during the quarter. GAMMA Investing LLC’s holdings in Silicon Laboratories were worth $127,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Raymond James Financial Inc. purchased a new position in Silicon Laboratories during the fourth quarter valued at approximately $14,252,000. Arizona State Retirement System grew its holdings in Silicon Laboratories by 1.8% in the fourth quarter. Arizona State Retirement System now owns 9,360 shares of the semiconductor company’s stock valued at $1,163,000 after purchasing an additional 167 shares during the period. Wealth Enhancement Advisory Services LLC grew its holdings in Silicon Laboratories by 9.7% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 2,334 shares of the semiconductor company’s stock valued at $290,000 after purchasing an additional 206 shares during the period. Rhumbline Advisers grew its holdings in Silicon Laboratories by 3.5% in the first quarter. Rhumbline Advisers now owns 104,407 shares of the semiconductor company’s stock valued at $11,753,000 after purchasing an additional 3,550 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its holdings in Silicon Laboratories by 5.3% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 439,796 shares of the semiconductor company’s stock valued at $54,631,000 after purchasing an additional 21,991 shares during the period.

Insider Transactions at Silicon Laboratories

In other Silicon Laboratories news, CEO Robert Matthew Johnson sold 5,879 shares of the stock in a transaction on Friday, May 16th. The stock was sold at an average price of $131.20, for a total transaction of $771,324.80. Following the sale, the chief executive officer owned 73,688 shares in the company, valued at approximately $9,667,865.60. This represents a 7.39% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Christy Wyatt sold 546 shares of the stock in a transaction on 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 owned 8,492 shares in the company, valued at approximately $886,989.40. This trade represents a 6.04% 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. Corporate insiders own 1.60% of the company’s stock.

Silicon Laboratories Stock Performance

NASDAQ:SLAB opened at $153.55 on Friday. The stock has a 50-day simple moving average of $129.53 and a 200-day simple moving average of $126.83. The stock has a market cap of $5.00 billion, a P/E ratio of -30.05 and a beta of 1.47. Silicon Laboratories, Inc. has a 1 year low of $82.82 and a 1 year high of $160.00.

Silicon Laboratories (NASDAQ:SLAB) last released its quarterly earnings data on Tuesday, May 13th. The semiconductor company reported ($0.08) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.09) by $0.01. Silicon Laboratories had a negative return on equity of 8.80% and a negative net margin of 25.16%. The business 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 firm posted ($0.92) EPS. The business’s quarterly revenue was up 67.0% compared to the same quarter last year. On average, equities research analysts predict that Silicon Laboratories, Inc. will post -0.97 EPS for the current year.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on SLAB. Benchmark reaffirmed a “buy” rating and issued a $160.00 price target on shares of Silicon Laboratories in a research note on Tuesday, May 27th. Stifel Nicolaus lowered their price target on Silicon Laboratories from $145.00 to $120.00 and set a “buy” rating on the stock in a research note on Thursday, April 17th. Susquehanna lifted their price target on Silicon Laboratories from $100.00 to $110.00 and gave the stock a “neutral” rating in a research note on Wednesday, May 14th. Needham & Company LLC reaffirmed a “buy” rating and issued a $150.00 price target on shares of Silicon Laboratories in a research note on Wednesday, May 14th. Finally, Wall Street Zen raised Silicon Laboratories from a “sell” rating to a “hold” rating in a research note on Wednesday, May 14th. Four equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $126.50.

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.