New York State Teachers Retirement System Has $3.91 Million Stake in Silicon Laboratories, Inc. (NASDAQ:SLAB)

New York State Teachers Retirement System decreased its holdings in shares of Silicon Laboratories, Inc. (NASDAQ:SLAB) by 4.4% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 34,756 shares of the semiconductor company’s stock after selling 1,600 shares during the quarter. New York State Teachers Retirement System owned 0.11% of Silicon Laboratories worth $3,912,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Raymond James Financial Inc. acquired a new position in Silicon Laboratories during the fourth quarter worth about $14,252,000. Arizona State Retirement System increased its stake in shares of 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 buying an additional 167 shares during the period. GAMMA Investing LLC increased its stake in shares of Silicon Laboratories by 99.6% in the first quarter. GAMMA Investing LLC now owns 1,126 shares of the semiconductor company’s stock valued at $127,000 after buying an additional 562 shares during the period. Oppenheimer Asset Management Inc. increased its stake in shares of Silicon Laboratories by 2.9% in the first quarter. Oppenheimer Asset Management Inc. now owns 7,379 shares of the semiconductor company’s stock valued at $831,000 after buying an additional 210 shares during the period. Finally, Wealth Enhancement Advisory Services LLC increased its stake in shares of 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 buying an additional 206 shares during the period.

Analyst Ratings Changes

SLAB has been the subject of several recent research reports. Stifel Nicolaus lowered their price objective on Silicon Laboratories from $145.00 to $120.00 and set a “buy” rating for the company in a research note on Thursday, April 17th. Barclays lowered their price objective on Silicon Laboratories from $120.00 to $80.00 and set an “equal weight” rating for the company in a research note on Tuesday, April 22nd. Benchmark reaffirmed a “buy” rating and issued a $160.00 price objective on shares of Silicon Laboratories in a research note on Tuesday, May 27th. Susquehanna upped their price objective on Silicon Laboratories from $100.00 to $110.00 and gave the company a “neutral” rating 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 research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, Silicon Laboratories has an average rating of “Moderate Buy” and a consensus price target of $126.50.

Insider Buying and Selling at Silicon Laboratories

In other Silicon Laboratories news, Director Christy Wyatt sold 546 shares of the stock in a transaction that occurred on 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 sale, the director owned 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 SEC, which can be accessed through this hyperlink. Also, SVP Robert J. Conrad sold 4,029 shares of the 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 owned 25,380 shares in the company, valued at $3,329,856. The trade was a 13.70% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 11,626 shares of company stock valued at $1,509,319. 1.60% of the stock is currently owned by company insiders.

Silicon Laboratories Stock Performance

NASDAQ:SLAB opened at $153.55 on Monday. The company has a market capitalization of $5.00 billion, a PE ratio of -30.05 and a beta of 1.47. The company has a 50 day simple moving average of $129.53 and a two-hundred day simple moving average of $126.85. Silicon Laboratories, Inc. has a fifty-two week low of $82.82 and a fifty-two week high of $160.00.

Silicon Laboratories (NASDAQ:SLAB) last released its earnings results on Tuesday, May 13th. The semiconductor company reported ($0.08) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.09) by $0.01. The business had revenue of $177.71 million during the quarter, compared to the consensus estimate of $177.48 million. Silicon Laboratories had a negative net margin of 25.16% and a negative return on equity of 8.80%. The company’s revenue for the quarter was up 67.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.92) EPS. Research analysts predict that Silicon Laboratories, Inc. will post -0.97 EPS 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.