7,046 Shares in Silicon Laboratories, Inc. $SLAB Acquired by Azzad Asset Management Inc. ADV

Azzad Asset Management Inc. ADV acquired a new position in shares of Silicon Laboratories, Inc. (NASDAQ:SLAB) during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 7,046 shares of the semiconductor company’s stock, valued at approximately $924,000.

A number of other hedge funds have also recently bought and sold shares of SLAB. Alps Advisors Inc. lifted its stake in shares of Silicon Laboratories by 3.4% during the third quarter. Alps Advisors Inc. now owns 6,410 shares of the semiconductor company’s stock valued at $841,000 after acquiring an additional 211 shares during the period. Bessemer Group Inc. raised its holdings in Silicon Laboratories by 114.0% during the 3rd quarter. Bessemer Group Inc. now owns 734 shares of the semiconductor company’s stock worth $97,000 after purchasing an additional 391 shares during the last quarter. Savant Capital LLC acquired a new position in Silicon Laboratories during the 3rd quarter valued at about $222,000. Envestnet Asset Management Inc. boosted its stake in shares of Silicon Laboratories by 0.4% in the 3rd quarter. Envestnet Asset Management Inc. now owns 65,201 shares of the semiconductor company’s stock valued at $8,550,000 after purchasing an additional 245 shares during the last quarter. Finally, Hantz Financial Services Inc. grew its position in shares of Silicon Laboratories by 189.6% during the 3rd quarter. Hantz Financial Services Inc. now owns 362 shares of the semiconductor company’s stock worth $47,000 after buying an additional 237 shares during the period.

Silicon Laboratories Trading Down 0.5%

SLAB stock opened at $205.41 on Tuesday. Silicon Laboratories, Inc. has a 1-year low of $82.82 and a 1-year high of $208.84. The firm has a market cap of $6.75 billion, a PE ratio of -103.22 and a beta of 1.56. The business’s 50-day moving average price is $145.63 and its two-hundred day moving average price is $136.42.

Silicon Laboratories (NASDAQ:SLAB) last released its quarterly earnings results on Wednesday, February 4th. The semiconductor company reported $0.56 EPS for the quarter, topping analysts’ consensus estimates of $0.54 by $0.02. Silicon Laboratories had a negative return on equity of 4.09% and a negative net margin of 8.27%.The company had revenue of $208.21 million for the quarter, compared to analyst estimates of $207.63 million. During the same quarter last year, the firm posted ($0.11) earnings per share. Silicon Laboratories’s revenue was up 25.3% compared to the same quarter last year. On average, analysts forecast that Silicon Laboratories, Inc. will post -0.97 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the stock. Needham & Company LLC lowered shares of Silicon Laboratories from a “buy” rating to a “hold” rating in a report on Wednesday, February 4th. Weiss Ratings reissued a “sell (d-)” rating on shares of Silicon Laboratories in a research note on Monday, December 29th. Citigroup upped their price objective on Silicon Laboratories from $135.00 to $231.00 and gave the company a “neutral” rating in a report on Friday. Royal Bank Of Canada raised their target price on Silicon Laboratories from $160.00 to $205.00 and gave the stock a “sector perform” rating in a report on Thursday, February 5th. Finally, KeyCorp lowered Silicon Laboratories from an “overweight” rating to a “hold” rating in a research report on Wednesday, February 4th. One equities research analyst has rated the stock with a Buy rating, eight have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $167.78.

Insider Buying and Selling

In related news, SVP Brandon Tolany sold 4,246 shares of the business’s stock in a transaction on Thursday, December 4th. The shares were sold at an average price of $140.17, for a total value of $595,161.82. Following the sale, the senior vice president directly owned 62,381 shares of the company’s stock, valued at approximately $8,743,944.77. The trade was a 6.37% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Nina Richardson sold 1,355 shares of the company’s stock in a transaction on Tuesday, January 13th. The stock was sold at an average price of $149.00, for a total transaction of $201,895.00. Following the completion of the transaction, the director directly owned 8,543 shares of the company’s stock, valued at approximately $1,272,907. The trade was a 13.69% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 7,555 shares of company stock worth $1,073,528. Insiders own 1.60% of the company’s stock.

Silicon Laboratories Company Profile

Silicon Laboratories (NASDAQ:SLAB) is a global semiconductor company that develops high-performance analog and mixed-signal integrated circuits, wireless system-on-chips (SoCs), microcontrollers, and radio frequency (RF) solutions. Its product portfolio is tailored to support the Internet of Things (IoT), infrastructure, industrial automation, consumer electronics, automotive, and energy markets. By combining silicon, software, and tools, Silicon Labs aims to accelerate development cycles and deliver low-power, highly integrated solutions that address demanding application requirements.

Founded in 1996 and headquartered in Austin, Texas, Silicon Labs has grown into a multinational organization with engineering and sales operations across North America, Europe, and Asia.