Capital Research Global Investors Boosts Stock Position in Silicon Laboratories Inc. (NASDAQ:SLAB)

Capital Research Global Investors raised its holdings in Silicon Laboratories Inc. (NASDAQ:SLAB) by 29.9% in the 1st quarter, Holdings Channel reports. The institutional investor owned 1,217,939 shares of the semiconductor company’s stock after acquiring an additional 280,000 shares during the period. Capital Research Global Investors’ holdings in Silicon Laboratories were worth $175,042,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Natixis purchased a new stake in Silicon Laboratories in the 1st quarter valued at about $647,000. Vanguard Group Inc. grew its holdings in Silicon Laboratories by 0.7% in the 1st quarter. Vanguard Group Inc. now owns 3,489,160 shares of the semiconductor company’s stock valued at $501,462,000 after buying an additional 24,997 shares during the period. Orion Portfolio Solutions LLC grew its holdings in Silicon Laboratories by 1.1% in the 1st quarter. Orion Portfolio Solutions LLC now owns 9,858 shares of the semiconductor company’s stock valued at $1,417,000 after buying an additional 103 shares during the period. ProShare Advisors LLC grew its holdings in Silicon Laboratories by 14.8% in the 1st quarter. ProShare Advisors LLC now owns 11,274 shares of the semiconductor company’s stock valued at $1,620,000 after buying an additional 1,453 shares during the period. Finally, Russell Investments Group Ltd. grew its holdings in Silicon Laboratories by 31.7% in the 1st quarter. Russell Investments Group Ltd. now owns 52,578 shares of the semiconductor company’s stock valued at $7,557,000 after buying an additional 12,667 shares during the period.

Insider Buying and Selling at Silicon Laboratories

In other Silicon Laboratories news, CEO Robert Matthew Johnson sold 7,230 shares of the company’s stock in a transaction that occurred on Monday, June 3rd. The stock was sold at an average price of $123.80, for a total value of $895,074.00. Following the transaction, the chief executive officer now directly owns 47,910 shares of the company’s stock, valued at approximately $5,931,258. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 1.72% of the stock is currently owned by corporate insiders.

Silicon Laboratories Price Performance

Silicon Laboratories stock traded up $3.71 during midday trading on Friday, hitting $120.32. 383,452 shares of the company were exchanged, compared to its average volume of 349,580. The company’s fifty day moving average price is $118.50 and its 200-day moving average price is $126.50. The company has a market cap of $3.89 billion, a PE ratio of -36.35 and a beta of 1.20. Silicon Laboratories Inc. has a fifty-two week low of $74.56 and a fifty-two week high of $154.91.

Silicon Laboratories (NASDAQ:SLAB) last announced its earnings results on Wednesday, July 24th. The semiconductor company reported ($0.56) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.64) by $0.08. Silicon Laboratories had a negative return on equity of 9.13% and a negative net margin of 36.53%. The company had revenue of $145.40 million for the quarter, compared to analyst estimates of $140.18 million. During the same period in the prior year, the company posted $0.59 EPS. Silicon Laboratories’s quarterly revenue was down 40.6% on a year-over-year basis. On average, analysts expect that Silicon Laboratories Inc. will post -3.21 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

SLAB has been the topic of several research analyst reports. StockNews.com raised Silicon Laboratories to a “sell” rating in a research note on Tuesday. Citigroup reduced their price objective on Silicon Laboratories from $137.00 to $120.00 and set a “neutral” rating on the stock in a research note on Thursday, April 25th. Barclays reduced their price objective on Silicon Laboratories from $140.00 to $120.00 and set an “equal weight” rating on the stock in a research note on Thursday, April 25th. Needham & Company LLC reaffirmed a “buy” rating and issued a $150.00 price objective on shares of Silicon Laboratories in a research note on Thursday. Finally, TD Cowen reduced their price objective on Silicon Laboratories from $155.00 to $145.00 and set a “buy” rating on the stock in a research note on Thursday, April 25th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, Silicon Laboratories has a consensus rating of “Hold” and a consensus price target of $135.00.

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.