Charles Schwab Investment Management Inc. Raises Holdings in Silicon Laboratories Inc. (NASDAQ:SLAB)

Charles Schwab Investment Management Inc. boosted its holdings in shares of Silicon Laboratories Inc. (NASDAQ:SLAB) by 5.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 439,796 shares of the semiconductor company’s stock after buying an additional 21,991 shares during the period. Charles Schwab Investment Management Inc. owned approximately 1.36% of Silicon Laboratories worth $54,631,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also modified their holdings of the company. Franklin Resources Inc. increased its stake in Silicon Laboratories by 1.9% during the third quarter. Franklin Resources Inc. now owns 231,889 shares of the semiconductor company’s stock worth $27,001,000 after acquiring an additional 4,278 shares during the last quarter. Point72 Asset Management L.P. acquired a new position in Silicon Laboratories in the 3rd quarter valued at about $7,408,000. Intech Investment Management LLC increased its position in Silicon Laboratories by 82.9% during the 3rd quarter. Intech Investment Management LLC now owns 12,837 shares of the semiconductor company’s stock worth $1,484,000 after purchasing an additional 5,818 shares during the period. Barclays PLC increased its position in Silicon Laboratories by 23.4% during the 3rd quarter. Barclays PLC now owns 70,568 shares of the semiconductor company’s stock worth $8,157,000 after purchasing an additional 13,363 shares during the period. Finally, Premier Fund Managers Ltd purchased a new stake in shares of Silicon Laboratories during the 3rd quarter worth approximately $934,000.

Silicon Laboratories Price Performance

Shares of SLAB stock opened at $120.98 on Friday. The stock’s fifty day simple moving average is $138.66 and its 200 day simple moving average is $122.76. The firm has a market cap of $3.93 billion, a price-to-earnings ratio of -20.37 and a beta of 1.15. Silicon Laboratories Inc. has a one year low of $94.00 and a one year high of $160.00.

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

Analyst Ratings Changes

SLAB has been the subject of several analyst reports. Benchmark reiterated a “buy” rating and issued a $160.00 price target on shares of Silicon Laboratories in a report on Wednesday. StockNews.com lowered shares of Silicon Laboratories from a “hold” rating to a “sell” rating in a research note on Friday, February 28th. Susquehanna assumed coverage on shares of Silicon Laboratories in a research report on Tuesday, December 17th. They issued a “neutral” rating and a $130.00 price target on the stock. KeyCorp raised their price objective on shares of Silicon Laboratories from $115.00 to $160.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 22nd. Finally, Barclays raised their price target on shares of Silicon Laboratories from $75.00 to $120.00 and gave the company an “equal weight” rating in a report on Friday, January 17th. 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 company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $136.20.

Insider Transactions at Silicon Laboratories

In related news, Director William G. Bock sold 1,000 shares of the company’s stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $149.43, for a total value of $149,430.00. Following the completion of the sale, the director now owns 31,115 shares in the company, valued at approximately $4,649,514.45. This represents a 3.11 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Navdeep S. Sooch sold 2,360 shares of the stock in a transaction dated Wednesday, February 5th. The stock was sold at an average price of $149.00, for a total value of $351,640.00. Following the completion of the sale, the director now owns 400,567 shares of the company’s stock, valued at $59,684,483. This trade represents a 0.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 5,360 shares of company stock worth $782,610 over the last 90 days. 1.72% of the stock is owned by insiders.

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.