American Century Companies Inc. Lowers Stock Holdings in Silicon Laboratories, Inc. $SLAB

American Century Companies Inc. lowered its position in Silicon Laboratories, Inc. (NASDAQ:SLAB) by 0.9% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 637,253 shares of the semiconductor company’s stock after selling 5,889 shares during the period. American Century Companies Inc. owned about 1.94% of Silicon Laboratories worth $83,563,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of SLAB. AQR Capital Management LLC boosted its stake in shares of Silicon Laboratories by 43.7% in the first quarter. AQR Capital Management LLC now owns 17,892 shares of the semiconductor company’s stock worth $2,001,000 after acquiring an additional 5,439 shares during the period. Millennium Management LLC lifted its holdings in Silicon Laboratories by 2,804.1% in the 1st quarter. Millennium Management LLC now owns 99,842 shares of the semiconductor company’s stock worth $11,239,000 after purchasing an additional 96,404 shares in the last quarter. Jones Financial Companies Lllp boosted its stake in Silicon Laboratories by 121.4% in the 1st quarter. Jones Financial Companies Lllp now owns 496 shares of the semiconductor company’s stock worth $56,000 after purchasing an additional 272 shares during the period. United Services Automobile Association purchased a new stake in Silicon Laboratories during the 1st quarter valued at approximately $235,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in shares of Silicon Laboratories by 1.8% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 97,156 shares of the semiconductor company’s stock valued at $10,937,000 after buying an additional 1,679 shares during the last quarter.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on SLAB shares. Citigroup upped their target price on shares of Silicon Laboratories from $135.00 to $231.00 and gave the stock a “neutral” rating in a research report on Friday, February 6th. Weiss Ratings reissued a “sell (d-)” rating on shares of Silicon Laboratories in a report on Monday, December 29th. Needham & Company LLC cut Silicon Laboratories from a “buy” rating to a “hold” rating in a report on Wednesday, February 4th. Benchmark downgraded Silicon Laboratories from a “buy” rating to a “hold” rating in a research report on Wednesday, February 4th. Finally, KeyCorp lowered Silicon Laboratories from an “overweight” rating to a “hold” rating in a research note on Wednesday, February 4th. One investment analyst has rated the stock with a Buy rating, eight have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $167.78.

Insider Activity at Silicon Laboratories

In other Silicon Laboratories 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 transaction of $595,161.82. Following the transaction, the senior vice president owned 62,381 shares in the company, valued at $8,743,944.77. The trade was a 6.37% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Nina Richardson sold 1,355 shares of the stock in a transaction on Tuesday, January 13th. The shares were sold at an average price of $149.00, for a total transaction of $201,895.00. Following the completion of the sale, the director directly owned 8,543 shares in the company, valued at approximately $1,272,907. This represents a 13.69% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 7,555 shares of company stock worth $1,073,528. Corporate insiders own 1.60% of the company’s stock.

Silicon Laboratories Trading Down 0.6%

Shares of NASDAQ:SLAB opened at $203.64 on Wednesday. The company has a market cap of $6.71 billion, a price-to-earnings ratio of -102.33 and a beta of 1.46. Silicon Laboratories, Inc. has a 12 month low of $82.82 and a 12 month high of $208.84. The company has a 50-day moving average price of $167.45 and a 200 day moving average price of $144.83.

Silicon Laboratories (NASDAQ:SLAB) last issued its quarterly earnings data on Wednesday, February 4th. The semiconductor company reported $0.56 earnings per share for the quarter, topping the consensus estimate of $0.54 by $0.02. The company had revenue of $208.21 million for the quarter, compared to analysts’ expectations of $207.63 million. Silicon Laboratories had a negative return on equity of 4.07% and a negative net margin of 8.27%.The firm’s revenue for the quarter was up 25.3% on a year-over-year basis. During the same period in the previous year, the firm posted ($0.11) earnings per share. As a group, equities analysts forecast that Silicon Laboratories, Inc. will post -0.97 EPS for the current year.

About Silicon Laboratories

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.