Balyasny Asset Management L.P. Has $6.49 Million Holdings in Silicon Laboratories Inc. (NASDAQ:SLAB)

Balyasny Asset Management L.P. raised its stake in shares of Silicon Laboratories Inc. (NASDAQ:SLAB) by 49.4% in the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 52,235 shares of the semiconductor company’s stock after purchasing an additional 17,267 shares during the period. Balyasny Asset Management L.P.’s holdings in Silicon Laboratories were worth $6,489,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in SLAB. Jones Financial Companies Lllp boosted its position in shares of Silicon Laboratories by 44.5% during the fourth quarter. Jones Financial Companies Lllp now owns 224 shares of the semiconductor company’s stock valued at $28,000 after buying an additional 69 shares during the last quarter. Headlands Technologies LLC bought a new position in Silicon Laboratories during the 4th quarter valued at $70,000. Venturi Wealth Management LLC boosted its holdings in Silicon Laboratories by 207.0% during the 4th quarter. Venturi Wealth Management LLC now owns 786 shares of the semiconductor company’s stock worth $98,000 after acquiring an additional 530 shares during the last quarter. Asset Management One Co. Ltd. purchased a new stake in shares of Silicon Laboratories in the fourth quarter valued at about $117,000. Finally, KBC Group NV lifted its position in shares of Silicon Laboratories by 42.1% during the fourth quarter. KBC Group NV now owns 1,279 shares of the semiconductor company’s stock valued at $159,000 after purchasing an additional 379 shares in the last quarter.

Silicon Laboratories Stock Performance

Shares of Silicon Laboratories stock opened at $117.04 on Friday. The stock has a market capitalization of $3.80 billion, a P/E ratio of -19.70 and a beta of 1.36. Silicon Laboratories Inc. has a 52-week low of $82.82 and a 52-week high of $160.00. The stock’s 50-day simple moving average is $108.95 and its 200 day simple moving average is $120.43.

Silicon Laboratories (NASDAQ:SLAB) last announced 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). 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 period in the prior year, the company posted ($1.19) EPS. Silicon Laboratories’s revenue was up 91.4% compared to the same quarter last year. Equities research analysts forecast that Silicon Laboratories Inc. will post -0.97 EPS for the current fiscal year.

Insider Buying and Selling at Silicon Laboratories

In other news, 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 value of $149,430.00. Following the completion of the transaction, the director now directly owns 31,115 shares in the company, valued at approximately $4,649,514.45. The trade was a 3.11 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Christy Wyatt sold 546 shares of the stock in a transaction dated Tuesday, May 6th. The stock was sold at an average price of $104.45, for a total value of $57,029.70. Following the sale, the director now directly owns 8,492 shares in the company, valued at $886,989.40. This trade represents a 6.04 % decrease in their position. The disclosure for this sale can be found here. Insiders own 1.60% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the stock. Benchmark reaffirmed a “buy” rating and issued a $160.00 price objective on shares of Silicon Laboratories in a research report on Wednesday, March 12th. KeyCorp upped their target price on Silicon Laboratories from $115.00 to $160.00 and gave the company an “overweight” rating in a report on Wednesday, January 22nd. StockNews.com lowered Silicon Laboratories from a “hold” rating to a “sell” rating in a report on Thursday, March 27th. Needham & Company LLC reaffirmed a “buy” rating and set a $150.00 target price on shares of Silicon Laboratories in a research report on Wednesday, March 12th. Finally, Stifel Nicolaus cut their price target on shares of Silicon Laboratories from $145.00 to $120.00 and set a “buy” rating on the stock in a report on Thursday, April 17th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, Silicon Laboratories currently has an average rating of “Hold” and a consensus price target of $129.00.

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.