Premier Fund Managers Ltd Sells 817 Shares of Silicon Laboratories Inc. (NASDAQ:SLAB)

Premier Fund Managers Ltd cut its holdings in Silicon Laboratories Inc. (NASDAQ:SLAB) by 10.2% during the fourth quarter, HoldingsChannel.com reports. The institutional investor 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.

Several other hedge funds have also recently made changes to their positions in SLAB. Raymond James Financial Inc. bought a new stake in Silicon Laboratories during the fourth quarter worth approximately $14,252,000. Arizona State Retirement System boosted its holdings in shares of Silicon Laboratories by 1.8% in the 4th quarter. Arizona State Retirement System now owns 9,360 shares of the semiconductor company’s stock worth $1,163,000 after purchasing an additional 167 shares during the period. Franklin Resources Inc. increased its position in shares of Silicon Laboratories by 1.9% during the 3rd quarter. Franklin Resources Inc. now owns 231,889 shares of the semiconductor company’s stock valued at $27,001,000 after purchasing an additional 4,278 shares during the last quarter. Point72 Asset Management L.P. purchased a new stake in Silicon Laboratories during the 3rd quarter valued at $7,408,000. Finally, Barclays PLC raised its holdings in Silicon Laboratories by 23.4% during the 3rd quarter. Barclays PLC now owns 70,568 shares of the semiconductor company’s stock valued at $8,157,000 after buying an additional 13,363 shares during the period.

Insider Activity

In other news, Director Navdeep S. Sooch sold 2,360 shares of the stock in a transaction on 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 sale, the director now owns 400,567 shares in the company, valued at approximately $59,684,483. This represents a 0.59 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director William G. Bock sold 2,000 shares of the company’s stock in a transaction dated Wednesday, January 22nd. The shares were sold at an average price of $140.77, for a total value of $281,540.00. Following the transaction, the director now directly owns 32,115 shares in the company, valued at $4,520,828.55. This represents a 5.86 % 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 worth $782,610. 1.72% of the stock is currently owned by company insiders.

Silicon Laboratories Trading Down 1.5 %

Shares of SLAB stock opened at $119.57 on Friday. Silicon Laboratories Inc. has a twelve month low of $94.00 and a twelve month high of $160.00. The stock has a fifty day simple moving average of $137.08 and a two-hundred day simple moving average of $123.48. The stock 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 announced its quarterly earnings results on Tuesday, February 4th. The semiconductor company reported ($0.11) earnings per share for the quarter, hitting the consensus estimate of ($0.11). The firm had revenue of $166.25 million during the quarter, compared to analysts’ expectations of $166.09 million. Silicon Laboratories had a negative net margin of 32.69% and a negative return on equity of 10.46%. The company’s revenue was up 91.4% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($1.19) EPS. Research analysts predict that Silicon Laboratories Inc. will post -0.97 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the stock. Barclays increased their target price on shares of Silicon Laboratories from $75.00 to $120.00 and gave the company an “equal weight” rating in a research note on Friday, January 17th. KeyCorp raised 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. Needham & Company LLC restated a “buy” rating and set a $150.00 target price on shares of Silicon Laboratories in a research report on Wednesday, March 12th. Benchmark reiterated a “buy” rating and issued a $160.00 price target on shares of Silicon Laboratories in a report on Wednesday, March 12th. Finally, StockNews.com cut Silicon Laboratories from a “hold” rating to a “sell” rating in a report on Thursday. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $136.20.

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.