Stephens Investment Management Group LLC Sells 92,314 Shares of Silicon Laboratories, Inc. $SLAB

Stephens Investment Management Group LLC trimmed its position in Silicon Laboratories, Inc. (NASDAQ:SLAB) by 31.4% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 202,029 shares of the semiconductor company’s stock after selling 92,314 shares during the quarter. Stephens Investment Management Group LLC owned about 0.61% of Silicon Laboratories worth $42,052,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of SLAB. Kestra Advisory Services LLC bought a new stake in Silicon Laboratories during the 4th quarter valued at approximately $32,000. EverSource Wealth Advisors LLC boosted its stake in Silicon Laboratories by 45.7% in the 3rd quarter. EverSource Wealth Advisors LLC now owns 274 shares of the semiconductor company’s stock worth $36,000 after purchasing an additional 86 shares during the period. Covestor Ltd boosted its stake in Silicon Laboratories by 260.3% in the 4th quarter. Covestor Ltd now owns 281 shares of the semiconductor company’s stock worth $37,000 after purchasing an additional 203 shares during the period. Kemnay Advisory Services Inc. purchased a new stake in Silicon Laboratories during the 4th quarter valued at approximately $44,000. Finally, Jones Financial Companies Lllp grew its holdings in Silicon Laboratories by 121.4% during the 1st quarter. Jones Financial Companies Lllp now owns 496 shares of the semiconductor company’s stock valued at $56,000 after buying an additional 272 shares in the last quarter.

Insiders Place Their Bets

In other Silicon Laboratories news, CEO Robert Matthew Johnson sold 8,024 shares of the business’s stock in a transaction that occurred on Monday, May 18th. The stock was sold at an average price of $216.83, for a total transaction of $1,739,843.92. Following the sale, the chief executive officer directly owned 80,519 shares of the company’s stock, valued at $17,458,934.77. The trade was a 9.06% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. 1.60% of the stock is owned by insiders.

Analysts Set New Price Targets

Separately, Weiss Ratings reiterated a “sell (d-)” rating on shares of Silicon Laboratories in a report on Wednesday, June 24th. One equities research analyst has rated the stock with a Buy rating, eight have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $171.43.

Silicon Laboratories Price Performance

SLAB stock opened at $218.22 on Friday. Silicon Laboratories, Inc. has a 52 week low of $115.50 and a 52 week high of $220.90. The firm has a market capitalization of $7.20 billion, a P/E ratio of -142.63 and a beta of 1.36. The company has a fifty day simple moving average of $217.90 and a two-hundred day simple moving average of $193.63.

Silicon Laboratories (NASDAQ:SLAB) last posted its earnings results on Tuesday, May 5th. The semiconductor company reported $0.53 earnings per share for the quarter, topping analysts’ consensus estimates of $0.49 by $0.04. Silicon Laboratories had a negative net margin of 6.13% and a negative return on equity of 2.18%. The firm had revenue of $213.50 million for the quarter, compared to the consensus estimate of $214.02 million. During the same period in the previous year, the firm posted ($0.08) EPS. The business’s quarterly revenue was up 20.1% on a year-over-year basis. As a group, analysts anticipate that Silicon Laboratories, Inc. will post 0.74 EPS for the current year.

About Silicon Laboratories

Silicon Laboratories (NASDAQ:SLAB) is a global semiconductor company that develops high-performance analog and mixed-signal integrated circuits, wireless system-on-chips (SoCs), microcontrollers, and radio frequency (RF) solutions. Its product portfolio is tailored to support the Internet of Things (IoT), infrastructure, industrial automation, consumer electronics, automotive, and energy markets. By combining silicon, software, and tools, Silicon Labs aims to accelerate development cycles and deliver low-power, highly integrated solutions that address demanding application requirements.

Founded in 1996 and headquartered in Austin, Texas, Silicon Labs has grown into a multinational organization with engineering and sales operations across North America, Europe, and Asia.