Nisa Investment Advisors LLC Sells 213 Shares of Silicon Laboratories, Inc. (NASDAQ:SLAB)

Nisa Investment Advisors LLC reduced its stake in Silicon Laboratories, Inc. (NASDAQ:SLAB) by 5.2% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 3,921 shares of the semiconductor company’s stock after selling 213 shares during the period. Nisa Investment Advisors LLC’s holdings in Silicon Laboratories were worth $441,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Raymond James Financial Inc. bought a new position in shares of Silicon Laboratories in the 4th quarter worth $14,252,000. GAMMA Investing LLC boosted its position in shares of Silicon Laboratories by 99.6% in the 1st quarter. GAMMA Investing LLC now owns 1,126 shares of the semiconductor company’s stock worth $127,000 after purchasing an additional 562 shares during the last quarter. Principal Financial Group Inc. boosted its position in shares of Silicon Laboratories by 72.2% in the 1st quarter. Principal Financial Group Inc. now owns 129,911 shares of the semiconductor company’s stock worth $14,624,000 after purchasing an additional 54,463 shares during the last quarter. KBC Group NV boosted its position in shares of Silicon Laboratories by 27.1% in the 1st quarter. KBC Group NV now owns 1,625 shares of the semiconductor company’s stock worth $183,000 after purchasing an additional 346 shares during the last quarter. Finally, Oppenheimer Asset Management Inc. boosted its position in shares of Silicon Laboratories by 2.9% in the 1st quarter. Oppenheimer Asset Management Inc. now owns 7,379 shares of the semiconductor company’s stock worth $831,000 after purchasing an additional 210 shares during the last quarter.

Analysts Set New Price Targets

A number of analysts recently commented on the stock. Barclays lowered their price objective on shares of Silicon Laboratories from $120.00 to $80.00 and set an “equal weight” rating for the company in a research report on Tuesday, April 22nd. Stifel Nicolaus lowered their price objective on shares of Silicon Laboratories from $145.00 to $120.00 and set a “buy” rating for the company in a research report on Thursday, April 17th. Susquehanna upped their price objective on shares of Silicon Laboratories from $100.00 to $110.00 and gave the company a “neutral” rating in a research report on Wednesday, May 14th. Benchmark reaffirmed a “buy” rating and issued a $160.00 price objective on shares of Silicon Laboratories in a research report on Tuesday, May 27th. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $150.00 price objective on shares of Silicon Laboratories in a research report on Wednesday, May 14th. Four research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $129.00.

Insiders Place Their Bets

In other Silicon Laboratories news, SVP Robert J. Conrad sold 4,029 shares of the company’s stock in a transaction on Friday, May 16th. The shares were sold at an average price of $131.20, for a total transaction of $528,604.80. Following the sale, the senior vice president directly owned 25,380 shares of the company’s stock, valued at approximately $3,329,856. This 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 hyperlink. Also, Director Christy Wyatt sold 546 shares of the company’s stock in a transaction on Tuesday, May 6th. The stock was sold at an average price of $104.45, for a total transaction of $57,029.70. Following the sale, the director directly owned 8,492 shares in the company, valued at $886,989.40. This trade represents a 6.04% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 11,626 shares of company stock valued at $1,509,319. 1.60% of the stock is currently owned by corporate insiders.

Silicon Laboratories Trading Up 2.0%

Silicon Laboratories stock opened at $140.57 on Thursday. The company has a market cap of $4.58 billion, a P/E ratio of -27.51 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. The company has a fifty day simple moving average of $135.24 and a 200 day simple moving average of $127.57.

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 firm’s revenue for the quarter was up 67.0% compared to the same quarter last year. During the same quarter last year, the firm earned ($0.92) earnings per share. On average, equities research analysts forecast 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.