Fisher Asset Management LLC Buys 834 Shares of Silicon Laboratories Inc. (NASDAQ:SLAB)

Fisher Asset Management LLC increased its stake in Silicon Laboratories Inc. (NASDAQ:SLAB) by 2.3% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 37,239 shares of the semiconductor company’s stock after purchasing an additional 834 shares during the period. Fisher Asset Management LLC owned approximately 0.12% of Silicon Laboratories worth $4,926,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of SLAB. Envestnet Portfolio Solutions Inc. bought a new position in shares of Silicon Laboratories in the third quarter worth approximately $582,000. Envestnet Asset Management Inc. grew its position in Silicon Laboratories by 37.2% during the third quarter. Envestnet Asset Management Inc. now owns 90,289 shares of the semiconductor company’s stock valued at $10,464,000 after acquiring an additional 24,468 shares during the last quarter. Ontario Teachers Pension Plan Board bought a new position in Silicon Laboratories during the third quarter valued at approximately $312,000. Stifel Financial Corp grew its position in Silicon Laboratories by 1.7% during the third quarter. Stifel Financial Corp now owns 15,809 shares of the semiconductor company’s stock valued at $1,832,000 after acquiring an additional 269 shares during the last quarter. Finally, Federated Hermes Inc. grew its position in Silicon Laboratories by 17.6% during the third quarter. Federated Hermes Inc. now owns 483,127 shares of the semiconductor company’s stock valued at $55,990,000 after acquiring an additional 72,168 shares during the last quarter.

Silicon Laboratories Stock Performance

NASDAQ SLAB opened at $113.48 on Friday. The stock has a 50-day moving average of $123.19 and a 200 day moving average of $128.50. The company has a market capitalization of $3.62 billion, a price-to-earnings ratio of -34.28 and a beta of 1.23. Silicon Laboratories Inc. has a one year low of $74.56 and a one year high of $166.94.

Silicon Laboratories (NASDAQ:SLAB) last released its quarterly earnings results on Wednesday, April 24th. The semiconductor company reported ($1.34) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.29) by ($0.05). The firm had revenue of $106.38 million for the quarter, compared to the consensus estimate of $104.45 million. Silicon Laboratories had a negative net margin of 16.36% and a negative return on equity of 4.45%. On average, equities analysts predict that Silicon Laboratories Inc. will post -3.1 earnings per share for the current fiscal year.

Analyst Ratings Changes

SLAB has been the topic of a number of recent research reports. Needham & Company LLC upgraded shares of Silicon Laboratories from a “hold” rating to a “buy” rating and set a $150.00 price target on the stock in a research report on Thursday, April 25th. TD Cowen cut their target price on shares of Silicon Laboratories from $155.00 to $145.00 and set a “buy” rating on the stock in a report on Thursday, April 25th. JPMorgan Chase & Co. dropped their price target on Silicon Laboratories from $165.00 to $150.00 and set an “overweight” rating for the company in a research note on Thursday, April 25th. Barclays dropped their price target on Silicon Laboratories from $140.00 to $120.00 and set an “equal weight” rating for the company in a research note on Thursday, April 25th. Finally, Citigroup lowered their price objective on Silicon Laboratories from $137.00 to $120.00 and set a “neutral” rating for the company in a research report on Thursday, April 25th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $135.00.

Insider Activity

In other news, CEO Robert Matthew Johnson sold 7,230 shares of Silicon Laboratories stock in a transaction dated Monday, June 3rd. The stock was sold at an average price of $123.80, for a total transaction of $895,074.00. Following the transaction, the chief executive officer now directly owns 47,910 shares of the company’s stock, valued at approximately $5,931,258. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 1.72% of the company’s stock.

About Silicon Laboratories

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.