Park Avenue Securities LLC Takes $268,000 Position in Silicon Laboratories Inc. (NASDAQ:SLAB)

Park Avenue Securities LLC acquired a new position in shares of Silicon Laboratories Inc. (NASDAQ:SLAB) in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm acquired 2,161 shares of the semiconductor company’s stock, valued at approximately $268,000.

Other hedge funds have also added to or reduced their stakes in the company. Wellington Management Group LLP lifted its position in shares of Silicon Laboratories by 28.3% in the third quarter. Wellington Management Group LLP now owns 888,382 shares of the semiconductor company’s stock valued at $102,670,000 after buying an additional 195,997 shares during the last quarter. Clearbridge Investments LLC lifted its stake in shares of Silicon Laboratories by 84.0% in the 2nd quarter. Clearbridge Investments LLC now owns 273,776 shares of the semiconductor company’s stock valued at $30,288,000 after acquiring an additional 125,022 shares during the last quarter. Point72 Asset Management L.P. bought a new position in Silicon Laboratories in the 3rd quarter valued at approximately $7,408,000. FMR LLC increased its holdings in Silicon Laboratories by 1.1% in the third quarter. FMR LLC now owns 4,843,370 shares of the semiconductor company’s stock valued at $559,748,000 after purchasing an additional 54,708 shares during the period. Finally, Schwartz Investment Counsel Inc. boosted its stake in shares of Silicon Laboratories by 17.9% in the 3rd quarter. Schwartz Investment Counsel Inc. now owns 230,000 shares of the semiconductor company’s stock valued at $26,581,000 after purchasing an additional 35,000 shares during the last quarter.

Analyst Upgrades and Downgrades

SLAB has been the topic of a number of recent research reports. Susquehanna assumed coverage on Silicon Laboratories in a report on Tuesday, December 17th. They issued a “neutral” rating and a $130.00 target price on the stock. Stifel Nicolaus upped their price objective on shares of Silicon Laboratories from $135.00 to $145.00 and gave the stock a “buy” rating in a research report on Monday, January 6th. StockNews.com upgraded shares of Silicon Laboratories to a “sell” rating in a research report on Friday, November 8th. Barclays increased their price objective on Silicon Laboratories from $75.00 to $120.00 and gave the company an “equal weight” rating in a research note on Friday, January 17th. Finally, JPMorgan Chase & Co. decreased their target price on Silicon Laboratories from $150.00 to $135.00 and set an “overweight” rating for the company in a report on Tuesday, November 5th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and five have issued a buy rating to the company. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $133.56.

Silicon Laboratories Price Performance

Shares of Silicon Laboratories stock opened at $135.53 on Friday. The stock has a market cap of $4.40 billion, a price-to-earnings ratio of -18.31 and a beta of 1.17. Silicon Laboratories Inc. has a 1 year low of $94.00 and a 1 year high of $154.91. The firm’s 50-day moving average is $123.32 and its 200 day moving average is $115.75.

Silicon Laboratories (NASDAQ:SLAB) last announced its quarterly earnings results on Monday, November 4th. The semiconductor company reported ($0.13) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.20) by $0.07. The firm had revenue of $166.00 million for the quarter, compared to the consensus estimate of $165.50 million. Silicon Laboratories had a negative net margin of 46.93% and a negative return on equity of 12.60%. The business’s quarterly revenue was down 18.5% compared to the same quarter last year. During the same quarter last year, the firm posted $0.48 EPS. On average, equities analysts expect that Silicon Laboratories Inc. will post -3.56 EPS for the current fiscal year.

Insider Activity at Silicon Laboratories

In related news, Director William G. Bock sold 2,000 shares of Silicon Laboratories stock in a transaction on Wednesday, January 22nd. The shares were sold at an average price of $140.77, for a total transaction of $281,540.00. Following the transaction, the director now owns 32,115 shares in the company, valued at approximately $4,520,828.55. The trade was a 5.86 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 1.72% of the stock is currently owned by company insiders.

Silicon Laboratories Company Profile

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.