Louisiana State Employees Retirement System Grows Stake in Silicon Laboratories Inc. (NASDAQ:SLAB)

Louisiana State Employees Retirement System raised its stake in Silicon Laboratories Inc. (NASDAQ:SLAB) by 1.1% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 9,000 shares of the semiconductor company’s stock after purchasing an additional 100 shares during the quarter. Louisiana State Employees Retirement System’s holdings in Silicon Laboratories were worth $1,118,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in SLAB. Creative Planning raised its position in Silicon Laboratories by 116.0% in the third quarter. Creative Planning now owns 7,985 shares of the semiconductor company’s stock valued at $923,000 after purchasing an additional 4,289 shares during the period. Raymond James & Associates grew its stake in shares of Silicon Laboratories by 4.1% during the third quarter. Raymond James & Associates now owns 65,623 shares of the semiconductor company’s stock valued at $7,584,000 after acquiring an additional 2,561 shares in the last quarter. International Assets Investment Management LLC grew its stake in shares of Silicon Laboratories by 11,457.1% during the third quarter. International Assets Investment Management LLC now owns 809 shares of the semiconductor company’s stock valued at $93,000 after acquiring an additional 802 shares in the last quarter. Mount Yale Investment Advisors LLC acquired a new stake in shares of Silicon Laboratories during the third quarter valued at about $208,000. Finally, Schwartz Investment Counsel Inc. grew its stake in shares of Silicon Laboratories by 17.9% during the third quarter. Schwartz Investment Counsel Inc. now owns 230,000 shares of the semiconductor company’s stock valued at $26,581,000 after acquiring an additional 35,000 shares in the last quarter.

Insider Activity

In related news, Director William G. Bock sold 2,000 shares of the business’s stock in a transaction that occurred on Wednesday, January 22nd. The stock was sold at an average price of $140.77, for a total transaction of $281,540.00. Following the sale, the director now owns 32,115 shares of the company’s stock, valued at $4,520,828.55. The trade was a 5.86 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Navdeep S. Sooch sold 2,360 shares of the business’s stock in a transaction that occurred on Wednesday, February 5th. The stock was sold at an average price of $149.00, for a total value of $351,640.00. Following the sale, the director now directly owns 400,567 shares in the company, valued at approximately $59,684,483. The trade was a 0.59 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 1.72% of the company’s stock.

Analysts Set New Price Targets

SLAB has been the subject of several recent analyst reports. Needham & Company LLC raised their target price on Silicon Laboratories from $140.00 to $150.00 and gave the company a “buy” rating in a research note on Wednesday, February 5th. StockNews.com downgraded Silicon Laboratories from a “hold” rating to a “sell” rating in a research note on Friday. Morgan Stanley lowered their target price on Silicon Laboratories from $123.00 to $97.00 and set an “equal weight” rating for the company in a research note on Tuesday, November 5th. Benchmark upgraded Silicon Laboratories from a “hold” rating to a “buy” rating and set a $160.00 price target for the company in a research note on Wednesday, February 5th. Finally, KeyCorp lifted their price target on Silicon Laboratories from $115.00 to $160.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 22nd. One research analyst has rated the stock with a sell rating, five have given a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, Silicon Laboratories currently has a consensus rating of “Hold” and a consensus target price of $136.20.

Silicon Laboratories Stock Down 0.6 %

Shares of NASDAQ SLAB opened at $149.54 on Tuesday. The firm’s 50-day moving average price is $133.85 and its two-hundred day moving average price is $118.49. Silicon Laboratories Inc. has a 52-week low of $94.00 and a 52-week high of $154.91. The stock has a market capitalization of $4.85 billion, a P/E ratio of -25.18 and a beta of 1.16.

Silicon Laboratories (NASDAQ:SLAB) last issued its earnings results on Tuesday, February 4th. The semiconductor company reported ($0.11) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.11). The firm had revenue of $166.25 million for the quarter, compared to analysts’ expectations of $166.09 million. Silicon Laboratories had a negative net margin of 32.69% and a negative return on equity of 10.46%. Silicon Laboratories’s revenue was up 91.4% on a year-over-year basis. During the same quarter last year, the company posted ($1.19) earnings per share. As a group, equities research analysts expect that Silicon Laboratories Inc. will post -0.47 earnings per share for the current 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.