Fisher Asset Management LLC Acquires 63,652 Shares of Silicon Laboratories Inc. (NASDAQ:SLAB)

Fisher Asset Management LLC lifted its holdings in Silicon Laboratories Inc. (NASDAQ:SLAB) by 114.4% in the fourth quarter, Holdings Channel reports. The fund owned 119,292 shares of the semiconductor company’s stock after purchasing an additional 63,652 shares during the quarter. Fisher Asset Management LLC’s holdings in Silicon Laboratories were worth $14,818,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Advisors Asset Management Inc. lifted its holdings in shares of Silicon Laboratories by 159.4% in the 3rd quarter. Advisors Asset Management Inc. now owns 275 shares of the semiconductor company’s stock valued at $32,000 after acquiring an additional 169 shares during the last quarter. International Assets Investment Management LLC lifted its holdings in shares of Silicon Laboratories by 11,457.1% in the 3rd quarter. International Assets Investment Management LLC now owns 809 shares of the semiconductor company’s stock valued at $93,000 after acquiring an additional 802 shares during the last quarter. Venturi Wealth Management LLC lifted its holdings in shares of Silicon Laboratories by 207.0% in the 4th quarter. Venturi Wealth Management LLC now owns 786 shares of the semiconductor company’s stock valued at $98,000 after acquiring an additional 530 shares during the last quarter. Asset Management One Co. Ltd. bought a new position in shares of Silicon Laboratories in the 4th quarter valued at about $117,000. Finally, KBC Group NV lifted its holdings in shares of Silicon Laboratories by 42.1% in the 4th quarter. KBC Group NV now owns 1,279 shares of the semiconductor company’s stock valued at $159,000 after acquiring an additional 379 shares during the last quarter.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on SLAB. Benchmark raised shares of Silicon Laboratories from a “hold” rating to a “buy” rating and set a $160.00 price objective on the stock in a research report on Wednesday, February 5th. Morgan Stanley reduced their price objective on shares of Silicon Laboratories from $123.00 to $97.00 and set an “equal weight” rating on the stock in a research report on Tuesday, November 5th. StockNews.com lowered shares of Silicon Laboratories from a “hold” rating to a “sell” rating in a research report on Friday. Susquehanna began coverage on shares of Silicon Laboratories in a research report on Tuesday, December 17th. They issued a “neutral” rating and a $130.00 price objective on the stock. Finally, JPMorgan Chase & Co. reduced their price objective on shares of Silicon Laboratories from $150.00 to $135.00 and set an “overweight” rating on the stock in a research report on Tuesday, November 5th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Silicon Laboratories has an average rating of “Hold” and a consensus target price of $136.20.

Silicon Laboratories Stock Performance

Shares of Silicon Laboratories stock opened at $133.96 on Tuesday. The firm has a 50-day simple moving average of $137.95 and a two-hundred day simple moving average of $121.80. The company has a market cap of $4.35 billion, a P/E ratio of -22.55 and a beta of 1.16. Silicon Laboratories Inc. has a fifty-two week low of $94.00 and a fifty-two week high of $160.00.

Silicon Laboratories (NASDAQ:SLAB) last released 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). Silicon Laboratories had a negative net margin of 32.69% and a negative return on equity of 10.46%. The firm had revenue of $166.25 million during the quarter, compared to the consensus estimate of $166.09 million. During the same quarter in the prior year, the firm earned ($1.19) EPS. The company’s revenue for the quarter was up 91.4% on a year-over-year basis. Equities research analysts forecast that Silicon Laboratories Inc. will post -0.97 EPS for the current year.

Insider Buying and Selling

In related news, Director William G. Bock sold 1,000 shares of the company’s stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $149.43, for a total transaction of $149,430.00. Following the completion of the transaction, the director now owns 31,115 shares in the company, valued at $4,649,514.45. This represents a 3.11 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Navdeep S. Sooch sold 2,360 shares of the company’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 transaction, the director now owns 400,567 shares of the company’s stock, valued at approximately $59,684,483. This trade represents a 0.59 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 5,360 shares of company stock worth $782,610 in the last 90 days. 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.