Asset Management One Co. Ltd. Purchases New Position in Silicon Laboratories Inc. (NASDAQ:SLAB)

Asset Management One Co. Ltd. purchased a new stake in shares of Silicon Laboratories Inc. (NASDAQ:SLAB) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 915 shares of the semiconductor company’s stock, valued at approximately $117,000.

Several other institutional investors have also recently added to or reduced their stakes in the company. FMR LLC lifted its holdings in Silicon Laboratories by 1.1% during the 3rd 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 last quarter. Wellington Management Group LLP raised its stake 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 worth $102,670,000 after acquiring an additional 195,997 shares during the last quarter. Geode Capital Management LLC raised its stake in shares of Silicon Laboratories by 2.1% in the third quarter. Geode Capital Management LLC now owns 781,049 shares of the semiconductor company’s stock worth $90,282,000 after acquiring an additional 15,728 shares during the last quarter. Franklin Resources Inc. raised its stake in shares of Silicon Laboratories by 1.9% in 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. Finally, Schwartz Investment Counsel Inc. raised its stake in shares of Silicon Laboratories by 17.9% in the third quarter. Schwartz Investment Counsel Inc. now owns 230,000 shares of the semiconductor company’s stock worth $26,581,000 after acquiring an additional 35,000 shares during the last quarter.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the stock. Morgan Stanley dropped their target price on shares of 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. StockNews.com downgraded shares of Silicon Laboratories from a “hold” rating to a “sell” rating in a research note on Friday, February 14th. Stifel Nicolaus boosted their target price 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. JPMorgan Chase & Co. dropped their target price on shares of Silicon Laboratories from $150.00 to $135.00 and set an “overweight” rating for the company in a research note on Tuesday, November 5th. Finally, Benchmark raised shares of 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. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $136.20.

Insider Activity at Silicon Laboratories

In other news, Director Navdeep S. Sooch sold 2,360 shares of the company’s stock in a transaction that occurred on Wednesday, February 5th. The shares were sold at an average price of $149.00, for a total value of $351,640.00. Following the completion of the transaction, the director now owns 400,567 shares in the company, valued at $59,684,483. This represents a 0.59 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available 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 shares were 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 of the company’s stock, valued at $4,649,514.45. This trade represents a 3.11 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 5,360 shares of company stock worth $782,610. 1.72% of the stock is currently owned by company insiders.

Silicon Laboratories Stock Performance

Shares of NASDAQ SLAB opened at $155.33 on Friday. The stock has a market cap of $5.04 billion, a P/E ratio of -26.15 and a beta of 1.16. The firm has a 50 day moving average price of $136.14 and a 200 day moving average price of $119.75. Silicon Laboratories Inc. has a 52-week low of $94.00 and a 52-week high of $160.00.

Silicon Laboratories (NASDAQ:SLAB) last issued its quarterly earnings data on Tuesday, February 4th. The semiconductor company reported ($0.11) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.11). The firm had revenue of $166.25 million during 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%. The business’s revenue for the quarter was up 91.4% on a year-over-year basis. During the same quarter in the previous year, the company earned ($1.19) earnings per share. Analysts predict that Silicon Laboratories Inc. will post -0.97 earnings per share 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.