Premier Fund Managers Ltd Reduces Stock Position in Silicon Laboratories Inc. (NASDAQ:SLAB)

Premier Fund Managers Ltd lessened its holdings in shares of Silicon Laboratories Inc. (NASDAQ:SLAB) by 10.2% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 7,191 shares of the semiconductor company’s stock after selling 817 shares during the period. Premier Fund Managers Ltd’s holdings in Silicon Laboratories were worth $898,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Norges Bank purchased a new position in shares of Silicon Laboratories during the fourth quarter valued at approximately $34,622,000. Loomis Sayles & Co. L P raised its holdings in Silicon Laboratories by 2.0% in the 4th quarter. Loomis Sayles & Co. L P now owns 469,883 shares of the semiconductor company’s stock worth $58,368,000 after purchasing an additional 8,992 shares in the last quarter. JPMorgan Chase & Co. boosted its stake in shares of Silicon Laboratories by 50.8% during the 4th quarter. JPMorgan Chase & Co. now owns 159,982 shares of the semiconductor company’s stock valued at $19,873,000 after purchasing an additional 53,890 shares in the last quarter. Zions Bancorporation N.A. increased its position in shares of Silicon Laboratories by 19.3% during the fourth quarter. Zions Bancorporation N.A. now owns 14,265 shares of the semiconductor company’s stock valued at $1,772,000 after buying an additional 2,303 shares during the period. Finally, EFG Asset Management North America Corp. raised its stake in Silicon Laboratories by 22.8% in the fourth quarter. EFG Asset Management North America Corp. now owns 19,060 shares of the semiconductor company’s stock worth $2,366,000 after buying an additional 3,541 shares in the last quarter.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the company. Benchmark reaffirmed a “buy” rating and set a $160.00 price objective on shares of Silicon Laboratories in a research report on Wednesday, March 12th. Susquehanna assumed coverage on Silicon Laboratories in a research note on Tuesday, December 17th. They issued a “neutral” rating and a $130.00 price target on the stock. Barclays raised their price objective on Silicon Laboratories from $75.00 to $120.00 and gave the company an “equal weight” rating in a research report on Friday, January 17th. KeyCorp boosted 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, StockNews.com downgraded shares of Silicon Laboratories from a “hold” rating to a “sell” rating in a research note on Thursday. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, Silicon Laboratories currently has an average rating of “Hold” and a consensus price target of $136.20.

Silicon Laboratories Price Performance

Shares of SLAB stock opened at $119.57 on Friday. Silicon Laboratories Inc. has a one year low of $94.00 and a one year high of $160.00. The company’s fifty day moving average price is $137.08 and its 200-day moving average price is $123.48. The company has a market capitalization of $3.88 billion, a price-to-earnings ratio of -20.13 and a beta of 1.15.

Silicon Laboratories (NASDAQ:SLAB) last posted its quarterly earnings results on Tuesday, February 4th. The semiconductor company reported ($0.11) EPS for the quarter, meeting analysts’ consensus estimates of ($0.11). The business had revenue of $166.25 million for the quarter, compared to analysts’ expectations 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 quarterly revenue was up 91.4% on a year-over-year basis. During the same period last year, the firm earned ($1.19) earnings per share. Equities research analysts expect that Silicon Laboratories Inc. will post -0.97 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, 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 transaction, the director now owns 400,567 shares in the company, valued at $59,684,483. This trade represents a 0.59 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director William G. Bock sold 1,000 shares of Silicon Laboratories 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 directly owns 31,115 shares in the company, valued at $4,649,514.45. This trade represents a 3.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 5,360 shares of company stock valued at $782,610. Corporate insiders own 1.72% of the company’s stock.

Silicon Laboratories 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.