Teacher Retirement System of Texas Buys Shares of 5,042 Silicon Laboratories, Inc. (NASDAQ:SLAB)

Teacher Retirement System of Texas purchased a new position in Silicon Laboratories, Inc. (NASDAQ:SLAB) in the first quarter, according to its most recent disclosure with the SEC. The institutional investor purchased 5,042 shares of the semiconductor company’s stock, valued at approximately $568,000.

A number of other hedge funds have also made changes to their positions in the stock. Jones Financial Companies Lllp grew its stake in shares of Silicon Laboratories by 44.5% in the 4th quarter. Jones Financial Companies Lllp now owns 224 shares of the semiconductor company’s stock worth $28,000 after purchasing an additional 69 shares during the last quarter. UMB Bank n.a. boosted its stake in shares of Silicon Laboratories by 111.3% during the 1st quarter. UMB Bank n.a. now owns 336 shares of the semiconductor company’s stock worth $38,000 after acquiring an additional 177 shares in the last quarter. Parallel Advisors LLC grew its holdings in shares of Silicon Laboratories by 143.7% in the 1st quarter. Parallel Advisors LLC now owns 463 shares of the semiconductor company’s stock worth $52,000 after acquiring an additional 273 shares during the last quarter. Headlands Technologies LLC acquired a new stake in shares of Silicon Laboratories during the fourth quarter worth $70,000. Finally, GAMMA Investing LLC lifted its holdings in shares of Silicon Laboratories by 99.6% during the first quarter. GAMMA Investing LLC now owns 1,126 shares of the semiconductor company’s stock valued at $127,000 after purchasing an additional 562 shares during the last quarter.

Silicon Laboratories Stock Performance

Shares of NASDAQ:SLAB opened at $140.57 on Thursday. The company’s fifty day moving average is $135.24 and its 200-day moving average is $127.57. 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 $4.58 billion, a PE ratio of -27.51 and a beta of 1.47.

Silicon Laboratories (NASDAQ:SLAB) last released its quarterly 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 8.80% and a negative net margin of 25.16%. The business had revenue of $177.71 million for the quarter, compared to analyst estimates of $177.48 million. During the same period in the prior year, the company earned ($0.92) EPS. Silicon Laboratories’s revenue for the quarter was up 67.0% on a year-over-year basis. On average, analysts forecast that Silicon Laboratories, Inc. will post -0.97 EPS for the current year.

Insider Activity at Silicon Laboratories

In other news, SVP Robert J. Conrad sold 4,029 shares of the company’s stock in a transaction that occurred on Friday, May 16th. The shares were sold at an average price of $131.20, for a total value of $528,604.80. Following the completion of the transaction, the senior vice president owned 25,380 shares in the company, valued at $3,329,856. This represents a 13.70% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Christy Wyatt sold 546 shares of the business’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 completion of 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 ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 11,626 shares of company stock worth $1,509,319. 1.60% of the stock is owned by insiders.

Analyst Ratings Changes

A number of analysts have recently issued reports on the company. Wall Street Zen upgraded Silicon Laboratories from a “sell” rating to a “hold” rating in a report on Wednesday, May 14th. KeyCorp increased their price target on shares of Silicon Laboratories from $160.00 to $180.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 8th. Susquehanna increased their target price on shares of Silicon Laboratories from $100.00 to $110.00 and gave the stock a “neutral” rating in a research report on Wednesday, May 14th. Benchmark reissued a “buy” rating and issued a $160.00 price objective on shares of Silicon Laboratories in a research note on Tuesday, May 27th. Finally, 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. Four investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $129.00.

Silicon Laboratories Company 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.