Public Sector Pension Investment Board Makes New $4.80 Million Investment in Silicon Laboratories, Inc. $SLAB

Public Sector Pension Investment Board bought a new stake in shares of Silicon Laboratories, Inc. (NASDAQ:SLAB) during the third quarter, Holdings Channel reports. The fund bought 36,600 shares of the semiconductor company’s stock, valued at approximately $4,799,000.

Several other hedge funds have also recently modified their holdings of SLAB. UMB Bank n.a. boosted its stake in shares of Silicon Laboratories by 43.9% during the third quarter. UMB Bank n.a. now owns 282 shares of the semiconductor company’s stock valued at $37,000 after purchasing an additional 86 shares in the last quarter. Advisors Asset Management Inc. lifted its position in shares of Silicon Laboratories by 17.6% during the second quarter. Advisors Asset Management Inc. now owns 742 shares of the semiconductor company’s stock valued at $109,000 after buying an additional 111 shares during the last quarter. Arizona State Retirement System boosted its stake in Silicon Laboratories by 1.6% in the third quarter. Arizona State Retirement System now owns 9,627 shares of the semiconductor company’s stock valued at $1,262,000 after acquiring an additional 153 shares in the last quarter. Profund Advisors LLC boosted its stake in Silicon Laboratories by 5.9% in the third quarter. Profund Advisors LLC now owns 2,972 shares of the semiconductor company’s stock valued at $390,000 after acquiring an additional 165 shares in the last quarter. Finally, Alps Advisors Inc. grew its holdings in Silicon Laboratories by 3.4% in the third quarter. Alps Advisors Inc. now owns 6,410 shares of the semiconductor company’s stock worth $841,000 after purchasing an additional 211 shares during the last quarter.

Insider Buying and Selling at Silicon Laboratories

In other news, SVP Brandon Tolany sold 1,954 shares of the stock in a transaction on Friday, December 5th. The shares were sold at an average price of $141.49, for a total value of $276,471.46. Following the sale, the senior vice president owned 62,381 shares in the company, valued at $8,826,287.69. This represents a 3.04% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Nina Richardson sold 1,355 shares of the firm’s stock in a transaction on Tuesday, January 13th. The stock was sold at an average price of $149.00, for a total transaction of $201,895.00. Following the transaction, the director directly owned 8,543 shares of the company’s stock, valued at approximately $1,272,907. This trade represents a 13.69% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 7,555 shares of company stock worth $1,073,528 over the last ninety days. Insiders own 1.60% of the company’s stock.

Silicon Laboratories Stock Performance

Silicon Laboratories stock opened at $204.79 on Friday. The business’s 50-day simple moving average is $156.32 and its two-hundred day simple moving average is $140.41. The company has a market cap of $6.75 billion, a PE ratio of -102.91 and a beta of 1.56. Silicon Laboratories, Inc. has a fifty-two week low of $82.82 and a fifty-two week high of $208.84.

Silicon Laboratories (NASDAQ:SLAB) last released its earnings results on Wednesday, February 4th. The semiconductor company reported $0.56 EPS for the quarter, topping analysts’ consensus estimates of $0.54 by $0.02. The firm had revenue of $208.21 million during the quarter, compared to the consensus estimate of $207.63 million. Silicon Laboratories had a negative return on equity of 4.07% and a negative net margin of 8.27%.The company’s revenue was up 25.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.11) earnings per share. As a group, analysts predict that Silicon Laboratories, Inc. will post -0.97 EPS for the current fiscal year.

Analysts Set New Price Targets

Several brokerages have recently commented on SLAB. Royal Bank Of Canada increased their price objective on Silicon Laboratories from $160.00 to $205.00 and gave the company a “sector perform” rating in a report on Thursday, February 5th. Benchmark cut Silicon Laboratories from a “buy” rating to a “hold” rating in a research note on Wednesday, February 4th. Needham & Company LLC downgraded Silicon Laboratories from a “buy” rating to a “hold” rating in a report on Wednesday, February 4th. Weiss Ratings restated a “sell (d-)” rating on shares of Silicon Laboratories in a research note on Monday, December 29th. Finally, KeyCorp lowered shares of Silicon Laboratories from an “overweight” rating to a “hold” rating in a research report on Wednesday, February 4th. One investment analyst has rated the stock with a Buy rating, eight have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $167.78.

Silicon Laboratories Company Profile

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.