Envestnet Asset Management Inc. Raises Stake in Silicon Laboratories, Inc. (NASDAQ:SLAB)

Envestnet Asset Management Inc. increased its stake in shares of Silicon Laboratories, Inc. (NASDAQ:SLABFree Report) by 5.0% during the 1st quarter, according to its most recent filing with the SEC. The institutional investor owned 111,129 shares of the semiconductor company’s stock after acquiring an additional 5,293 shares during the period. Envestnet Asset Management Inc. owned approximately 0.34% of Silicon Laboratories worth $12,510,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in SLAB. UMB Bank n.a. raised its stake in Silicon Laboratories by 111.3% during the first quarter. UMB Bank n.a. now owns 336 shares of the semiconductor company’s stock worth $38,000 after acquiring an additional 177 shares during the period. Parallel Advisors LLC grew its position in Silicon Laboratories by 143.7% in the first quarter. Parallel Advisors LLC now owns 463 shares of the semiconductor company’s stock worth $52,000 after buying 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. GAMMA Investing LLC lifted its stake in 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 buying an additional 562 shares in the last quarter. Finally, KBC Group NV lifted 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 valued at $183,000 after acquiring an additional 346 shares in the last quarter.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on SLAB. Susquehanna raised 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. Stifel Nicolaus lifted their price objective on Silicon Laboratories from $144.00 to $160.00 and gave the stock a “buy” rating in a research note on Friday. Benchmark reiterated a “buy” rating and set a $160.00 target price on shares of Silicon Laboratories in a research note on Tuesday, May 27th. Needham & Company LLC restated a “buy” rating and set a $150.00 price objective on shares of Silicon Laboratories in a research report on Wednesday, May 14th. Finally, Barclays cut their price target on shares of 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. Four investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, Silicon Laboratories currently has an average rating of “Moderate Buy” and a consensus target price of $134.00.

Read Our Latest Analysis on Silicon Laboratories

Insider Activity

In related news, CEO Robert Matthew Johnson sold 5,879 shares of the business’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 $771,324.80. Following the completion of the sale, the chief executive officer directly owned 73,688 shares in the company, valued at approximately $9,667,865.60. The trade was a 7.39% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Christy Wyatt sold 546 shares of the stock in a transaction dated 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 owned 8,492 shares in the company, valued at $886,989.40. The trade was a 6.04% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 11,626 shares of company stock valued at $1,509,319. 1.60% of the stock is owned by insiders.

Silicon Laboratories Stock Performance

NASDAQ SLAB opened at $149.63 on Friday. The business has a 50 day simple moving average of $136.58 and a 200 day simple moving average of $127.91. The stock has a market cap of $4.87 billion, a price-to-earnings ratio of -29.28 and a beta of 1.47. Silicon Laboratories, Inc. has a 52-week low of $82.82 and a 52-week high of $160.00.

Silicon Laboratories (NASDAQ:SLABGet Free Report) last posted its quarterly 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 firm had revenue of $177.71 million during the quarter, compared to the consensus estimate of $177.48 million. Silicon Laboratories had a negative return on equity of 8.80% and a negative net margin of 25.16%. The business’s revenue was up 67.0% compared to the same quarter last year. During the same period last year, the company earned ($0.92) earnings per share. On average, analysts predict that Silicon Laboratories, Inc. will post -0.97 EPS for the current year.

Silicon Laboratories Profile

(Free Report)

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.

See Also

Institutional Ownership by Quarter for Silicon Laboratories (NASDAQ:SLAB)

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