Principal Financial Group Inc. Cuts Stock Holdings in Silicon Laboratories Inc. (NASDAQ:SLAB)

Principal Financial Group Inc. decreased its holdings in shares of Silicon Laboratories Inc. (NASDAQ:SLAB) by 0.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 75,448 shares of the semiconductor company’s stock after selling 216 shares during the quarter. Principal Financial Group Inc. owned 0.23% of Silicon Laboratories worth $9,372,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of SLAB. Wellington Management Group LLP grew its holdings in shares of Silicon Laboratories by 28.3% during the third quarter. Wellington Management Group LLP now owns 888,382 shares of the semiconductor company’s stock worth $102,670,000 after purchasing an additional 195,997 shares in the last quarter. Point72 Asset Management L.P. purchased a new position in shares of Silicon Laboratories during the third quarter worth about $7,408,000. FMR LLC boosted its stake in Silicon Laboratories by 1.1% in the third quarter. FMR LLC now owns 4,843,370 shares of the semiconductor company’s stock worth $559,748,000 after buying an additional 54,708 shares in the last quarter. SG Americas Securities LLC boosted its stake in Silicon Laboratories by 1,106.4% in the fourth quarter. SG Americas Securities LLC now owns 23,791 shares of the semiconductor company’s stock worth $2,955,000 after buying an additional 21,819 shares in the last quarter. Finally, Citigroup Inc. boosted its stake in Silicon Laboratories by 37.6% in the third quarter. Citigroup Inc. now owns 59,064 shares of the semiconductor company’s stock worth $6,826,000 after buying an additional 16,134 shares in the last quarter.

Analyst Ratings Changes

SLAB has been the subject of several research reports. KeyCorp upped their target price on Silicon Laboratories from $115.00 to $160.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 22nd. Susquehanna initiated coverage on Silicon Laboratories in a research note on Tuesday, December 17th. They issued a “neutral” rating and a $130.00 target price for the company. Needham & Company LLC upped their target price on Silicon Laboratories from $140.00 to $150.00 and gave the stock a “buy” rating in a research note on Wednesday, February 5th. Benchmark raised Silicon Laboratories from a “hold” rating to a “buy” rating and set a $160.00 target price for the company in a research note on Wednesday, February 5th. Finally, Barclays upped their target price on Silicon Laboratories from $75.00 to $120.00 and gave the stock an “equal weight” rating in a research note 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 company presently has a consensus rating of “Hold” and a consensus target price of $136.20.

Silicon Laboratories Stock Performance

NASDAQ SLAB opened at $140.30 on Friday. The stock has a market cap of $4.55 billion, a P/E ratio of -23.62 and a beta of 1.16. Silicon Laboratories Inc. has a fifty-two week low of $94.00 and a fifty-two week high of $160.00. The stock has a 50 day simple moving average of $137.80 and a two-hundred day simple moving average of $121.29.

Silicon Laboratories (NASDAQ:SLAB) last announced its quarterly earnings results 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 during 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 firm’s revenue was up 91.4% on a year-over-year basis. During the same quarter last year, the firm posted ($1.19) earnings per share. Sell-side analysts predict that Silicon Laboratories Inc. will post -0.97 earnings per share for the current year.

Insider Transactions at Silicon Laboratories

In related news, Director William G. Bock sold 1,000 shares of the stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $149.43, for a total value of $149,430.00. Following the completion of the transaction, the director now directly owns 31,115 shares of the company’s stock, valued at $4,649,514.45. This represents a 3.11 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Navdeep S. Sooch sold 2,360 shares of the firm’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 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. In the last ninety days, insiders sold 5,360 shares of company stock valued at $782,610. Company insiders own 1.72% of the company’s stock.

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.