Mutual of America Capital Management LLC Cuts Position in Silicon Laboratories Inc. (NASDAQ:SLAB)

Mutual of America Capital Management LLC trimmed its holdings in shares of Silicon Laboratories Inc. (NASDAQ:SLAB) by 49.4% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 17,140 shares of the semiconductor company’s stock after selling 16,727 shares during the quarter. Mutual of America Capital Management LLC owned 0.05% of Silicon Laboratories worth $2,129,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Pacer Advisors Inc. increased its position in shares of Silicon Laboratories by 1.8% during the 4th quarter. Pacer Advisors Inc. now owns 4,839 shares of the semiconductor company’s stock valued at $601,000 after purchasing an additional 87 shares during the last quarter. Louisiana State Employees Retirement System grew its position in Silicon Laboratories by 1.1% during the fourth quarter. Louisiana State Employees Retirement System now owns 9,000 shares of the semiconductor company’s stock valued at $1,118,000 after buying an additional 100 shares during the period. Oppenheimer Asset Management Inc. increased its holdings in Silicon Laboratories by 1.4% during the fourth quarter. Oppenheimer Asset Management Inc. now owns 7,169 shares of the semiconductor company’s stock worth $891,000 after buying an additional 102 shares during the last quarter. Procyon Advisors LLC raised its position in Silicon Laboratories by 4.4% in the fourth quarter. Procyon Advisors LLC now owns 3,176 shares of the semiconductor company’s stock worth $395,000 after acquiring an additional 133 shares during the period. Finally, Truist Financial Corp boosted its stake in Silicon Laboratories by 0.7% in the fourth quarter. Truist Financial Corp now owns 21,699 shares of the semiconductor company’s stock valued at $2,695,000 after acquiring an additional 151 shares during the last quarter.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on SLAB shares. Stifel Nicolaus raised their price target on shares of Silicon Laboratories from $135.00 to $145.00 and gave the stock a “buy” rating in a research note on Monday, January 6th. Barclays raised their target price on Silicon Laboratories from $75.00 to $120.00 and gave the stock an “equal weight” rating in a research report on Friday, January 17th. KeyCorp upped their price target on Silicon Laboratories from $115.00 to $160.00 and gave the company an “overweight” rating in a research report on Wednesday, January 22nd. Needham & Company LLC increased their price target on Silicon Laboratories from $140.00 to $150.00 and gave the stock a “buy” rating in a research note on Wednesday, February 5th. Finally, Susquehanna assumed coverage on shares of Silicon Laboratories in a report on Tuesday, December 17th. They set a “neutral” rating and a $130.00 price objective on the stock. One 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, the company currently has a consensus rating of “Hold” and an average price target of $136.20.

Insider Transactions at Silicon Laboratories

In other news, Director Navdeep S. Sooch sold 2,360 shares of the business’s stock in a transaction dated Wednesday, February 5th. The stock was sold at an average price of $149.00, for a total transaction of $351,640.00. Following the completion of the transaction, the director now owns 400,567 shares of the company’s stock, valued at approximately $59,684,483. The trade was a 0.59 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director William G. Bock sold 1,000 shares of the company’s stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $149.43, for a total transaction of $149,430.00. Following the completion of the transaction, the director now owns 31,115 shares in the company, valued at approximately $4,649,514.45. This trade represents a 3.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 5,360 shares of company stock valued at $782,610. 1.72% of the stock is currently owned by company insiders.

Silicon Laboratories Stock Up 2.6 %

SLAB stock opened at $138.68 on Friday. The stock has a 50-day simple moving average of $138.32 and a two-hundred day simple moving average of $122.21. Silicon Laboratories Inc. has a twelve month low of $94.00 and a twelve month high of $160.00. The firm has a market capitalization of $4.50 billion, a PE ratio of -23.35 and a beta of 1.15.

Silicon Laboratories (NASDAQ:SLAB) last issued its quarterly earnings data on Tuesday, February 4th. The semiconductor company reported ($0.11) EPS for the quarter, meeting the consensus estimate of ($0.11). Silicon Laboratories had a negative net margin of 32.69% and a negative return on equity of 10.46%. The company had revenue of $166.25 million during the quarter, compared to analysts’ expectations of $166.09 million. During the same quarter in the previous year, the company earned ($1.19) earnings per share. Silicon Laboratories’s revenue for the quarter was up 91.4% on a year-over-year basis. On average, equities research analysts anticipate that Silicon Laboratories Inc. will post -0.97 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.