Federated Hermes Inc. Increases Stock Position in Silicon Laboratories Inc. (NASDAQ:SLAB)

Federated Hermes Inc. boosted its holdings in Silicon Laboratories Inc. (NASDAQ:SLAB) by 4.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 638,464 shares of the semiconductor company’s stock after purchasing an additional 25,178 shares during the quarter. Federated Hermes Inc. owned about 1.97% of Silicon Laboratories worth $79,310,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of SLAB. Norges Bank acquired a new stake in shares of Silicon Laboratories during the fourth quarter worth about $34,622,000. Wellington Management Group LLP lifted its position in Silicon Laboratories by 28.3% during the 3rd quarter. Wellington Management Group LLP now owns 888,382 shares of the semiconductor company’s stock worth $102,670,000 after acquiring an additional 195,997 shares during the period. Raymond James Financial Inc. purchased a new position in shares of Silicon Laboratories in the 4th quarter valued at approximately $14,252,000. Alliancebernstein L.P. increased its holdings in shares of Silicon Laboratories by 58.2% in the fourth quarter. Alliancebernstein L.P. now owns 240,321 shares of the semiconductor company’s stock valued at $29,853,000 after purchasing an additional 88,438 shares during the period. Finally, Vanguard Group Inc. raised its stake in shares of Silicon Laboratories by 1.9% during the fourth quarter. Vanguard Group Inc. now owns 3,959,580 shares of the semiconductor company’s stock worth $491,859,000 after purchasing an additional 71,942 shares during the last quarter.

Insider Buying and Selling at Silicon Laboratories

In other Silicon Laboratories 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 value of $149,430.00. Following the transaction, the director now directly owns 31,115 shares in the company, valued at approximately $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 accessible through this link. Also, Director Navdeep S. Sooch sold 2,360 shares of the firm’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 sale, the director now directly owns 400,567 shares in the company, valued at $59,684,483. This represents a 0.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 5,360 shares of company stock valued at $782,610 over the last quarter. Corporate insiders own 1.60% of the company’s stock.

Analyst Ratings Changes

SLAB has been the topic of several recent research reports. Stifel Nicolaus boosted their price objective on shares of Silicon Laboratories from $135.00 to $145.00 and gave the company a “buy” rating in a research note on Monday, January 6th. Benchmark reiterated a “buy” rating and set a $160.00 price target on shares of Silicon Laboratories in a research note on Wednesday, March 12th. Barclays raised their price objective on shares of Silicon Laboratories from $75.00 to $120.00 and gave the company an “equal weight” rating in a research report on Friday, January 17th. Needham & Company LLC reiterated a “buy” rating and set a $150.00 target price on shares of Silicon Laboratories in a research report on Wednesday, March 12th. Finally, KeyCorp raised their price target on Silicon Laboratories from $115.00 to $160.00 and gave the company an “overweight” rating in a report on Wednesday, January 22nd. One investment analyst has rated the stock with a sell rating, five have given a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $136.20.

Silicon Laboratories Stock Performance

Shares of SLAB stock opened at $92.08 on Monday. The stock has a fifty day moving average price of $133.58 and a 200 day moving average price of $123.65. The stock has a market cap of $2.99 billion, a PE ratio of -15.50 and a beta of 1.33. Silicon Laboratories Inc. has a 1 year low of $89.05 and a 1 year 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 (EPS) for the quarter, hitting the consensus estimate of ($0.11). The business had revenue of $166.25 million during the quarter, compared to the consensus estimate of $166.09 million. Silicon Laboratories had a negative return on equity of 10.46% and a negative net margin of 32.69%. The business’s revenue was up 91.4% on a year-over-year basis. During the same quarter in the previous year, the company posted ($1.19) EPS. As a group, equities research analysts predict that Silicon Laboratories Inc. will post -0.97 earnings per share for the current year.

Silicon Laboratories Company 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.