Vanguard Group Inc. Purchases 179,131 Shares of Silicon Laboratories Inc. (NASDAQ:SLAB)

Vanguard Group Inc. raised its position in shares of Silicon Laboratories Inc. (NASDAQ:SLAB) by 5.5% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,464,163 shares of the semiconductor company’s stock after acquiring an additional 179,131 shares during the period. Vanguard Group Inc. owned approximately 10.86% of Silicon Laboratories worth $458,205,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in SLAB. GAMMA Investing LLC acquired a new stake in shares of Silicon Laboratories in the fourth quarter valued at approximately $36,000. Gladius Capital Management LP raised its position in Silicon Laboratories by 328.7% during the fourth quarter. Gladius Capital Management LP now owns 373 shares of the semiconductor company’s stock valued at $49,000 after purchasing an additional 286 shares in the last quarter. CWM LLC raised its position in Silicon Laboratories by 78.1% during the fourth quarter. CWM LLC now owns 374 shares of the semiconductor company’s stock valued at $49,000 after purchasing an additional 164 shares in the last quarter. Itau Unibanco Holding S.A. acquired a new position in Silicon Laboratories during the third quarter valued at approximately $61,000. Finally, International Assets Investment Management LLC raised its position in Silicon Laboratories by 429.1% during the fourth quarter. International Assets Investment Management LLC now owns 926 shares of the semiconductor company’s stock valued at $122,000 after purchasing an additional 751 shares in the last quarter.

Insider Buying and Selling at Silicon Laboratories

In other Silicon Laboratories news, CEO Robert Matthew Johnson sold 7,230 shares of the company’s stock in a transaction on Monday, June 3rd. The shares were sold at an average price of $123.80, for a total transaction of $895,074.00. Following the sale, the chief executive officer now owns 47,910 shares of the company’s stock, valued at $5,931,258. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 1.72% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have commented on SLAB. Benchmark restated a “hold” rating on shares of Silicon Laboratories in a research report on Thursday, April 25th. Summit Insights downgraded shares of Silicon Laboratories from a “buy” rating to a “hold” rating in a research report on Wednesday, April 24th. Barclays lowered their price target on shares of Silicon Laboratories from $140.00 to $120.00 and set an “equal weight” rating for the company in a report on Thursday, April 25th. TD Cowen lowered their price target on shares of Silicon Laboratories from $155.00 to $145.00 and set a “buy” rating for the company in a report on Thursday, April 25th. Finally, Needham & Company LLC upgraded shares of Silicon Laboratories from a “hold” rating to a “buy” rating and set a $150.00 price target for the company in a report on Thursday, April 25th. One research analyst has rated the stock with a sell rating, six have given a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, Silicon Laboratories presently has a consensus rating of “Hold” and an average price target of $135.00.

Silicon Laboratories Trading Down 0.4 %

Shares of SLAB opened at $109.34 on Thursday. The stock has a market capitalization of $3.49 billion, a P/E ratio of -33.03 and a beta of 1.23. The firm’s fifty day simple moving average is $122.11 and its two-hundred day simple moving average is $128.50. Silicon Laboratories Inc. has a 12 month low of $74.56 and a 12 month high of $166.94.

Silicon Laboratories (NASDAQ:SLAB) last issued its quarterly earnings results on Wednesday, April 24th. The semiconductor company reported ($1.34) 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%. As a group, research analysts predict that Silicon Laboratories Inc. will post -3.21 EPS for the current fiscal year.

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.