US Bancorp DE Reduces Holdings in Silicon Laboratories Inc. (NASDAQ:SLAB)

US Bancorp DE decreased its holdings in Silicon Laboratories Inc. (NASDAQ:SLAB) by 10.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,701 shares of the semiconductor company’s stock after selling 191 shares during the quarter. US Bancorp DE’s holdings in Silicon Laboratories were worth $211,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. FMR LLC raised its stake in Silicon Laboratories by 1.1% during the 3rd quarter. FMR LLC now owns 4,843,370 shares of the semiconductor company’s stock worth $559,748,000 after acquiring an additional 54,708 shares during the period. Wellington Management Group LLP raised its stake in Silicon Laboratories by 28.3% during the 3rd 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 period. Geode Capital Management LLC raised its stake in Silicon Laboratories by 2.1% during the 3rd 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 period. GW&K Investment Management LLC raised its stake in Silicon Laboratories by 5.6% during the 4th quarter. GW&K Investment Management LLC now owns 682,045 shares of the semiconductor company’s stock worth $84,723,000 after acquiring an additional 36,330 shares during the period. Finally, Franklin Resources Inc. raised its stake in Silicon Laboratories by 1.9% during the 3rd 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 period.

Silicon Laboratories Stock Performance

Shares of SLAB opened at $124.25 on Friday. The company’s fifty day moving average is $138.51 and its 200 day moving average is $122.82. 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 market capitalization of $4.03 billion, a PE ratio of -20.92 and a beta of 1.15.

Silicon Laboratories (NASDAQ:SLAB) last announced its quarterly earnings results on Tuesday, February 4th. The semiconductor company reported ($0.11) earnings per share for the quarter, hitting 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 for the quarter, compared to analysts’ expectations of $166.09 million. During the same quarter in the previous year, the business posted ($1.19) earnings per share. Silicon Laboratories’s quarterly revenue was up 91.4% on a year-over-year basis. As a group, research analysts forecast that Silicon Laboratories Inc. will post -0.97 earnings per share for the current year.

Analyst Ratings Changes

A number of equities research analysts have commented on the stock. KeyCorp raised their target price 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. Needham & Company LLC restated a “buy” rating and set a $150.00 target price on shares of Silicon Laboratories in a research note on Wednesday. Susquehanna began coverage on shares of Silicon Laboratories in a research report on Tuesday, December 17th. They set a “neutral” rating and a $130.00 price objective on the stock. Barclays lifted their price objective on shares of Silicon Laboratories from $75.00 to $120.00 and gave the company an “equal weight” rating in a research report on Friday, January 17th. Finally, Stifel Nicolaus lifted their price objective on shares of Silicon Laboratories from $135.00 to $145.00 and gave the company a “buy” rating in a research report on Monday, January 6th. 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 MarketBeat.com, the company has an average rating of “Hold” and an average target price of $136.20.

Insider Buying and Selling

In other Silicon Laboratories news, Director Navdeep S. Sooch sold 2,360 shares of Silicon Laboratories stock in a transaction on Wednesday, February 5th. The shares were 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 directly owns 400,567 shares of the company’s stock, valued at $59,684,483. The trade was 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 this hyperlink. Also, Director William G. Bock sold 1,000 shares of Silicon Laboratories stock in a transaction 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 transaction, the director now directly owns 31,115 shares of the company’s stock, valued at $4,649,514.45. The trade was a 3.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 5,360 shares of company stock worth $782,610. Insiders own 1.72% of the company’s stock.

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.