Silicon Laboratories Inc. (NASDAQ:SLAB) Shares Sold by Legal & General Group Plc

Legal & General Group Plc lowered its position in Silicon Laboratories Inc. (NASDAQ:SLAB) by 4.4% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 66,519 shares of the semiconductor company’s stock after selling 3,088 shares during the quarter. Legal & General Group Plc’s holdings in Silicon Laboratories were worth $8,263,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. MML Investors Services LLC grew its holdings in Silicon Laboratories by 5.3% in the 3rd quarter. MML Investors Services LLC now owns 7,328 shares of the semiconductor company’s stock worth $847,000 after buying an additional 370 shares in the last quarter. Barclays PLC grew its stake in shares of Silicon Laboratories by 23.4% in the third quarter. Barclays PLC now owns 70,568 shares of the semiconductor company’s stock worth $8,157,000 after purchasing an additional 13,363 shares in the last quarter. Geode Capital Management LLC increased its holdings in shares of Silicon Laboratories by 2.1% during the third quarter. Geode Capital Management LLC now owns 781,049 shares of the semiconductor company’s stock valued at $90,282,000 after purchasing an additional 15,728 shares during the period. Tidal Investments LLC bought a new stake in shares of Silicon Laboratories during the third quarter valued at about $520,000. Finally, Franklin Resources Inc. lifted its holdings in Silicon Laboratories by 1.9% in the third quarter. Franklin Resources Inc. now owns 231,889 shares of the semiconductor company’s stock worth $27,001,000 after purchasing an additional 4,278 shares during the period.

Analyst Upgrades and Downgrades

SLAB has been the topic of a number of recent analyst reports. KeyCorp boosted their price target on shares of Silicon Laboratories from $115.00 to $160.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 22nd. Benchmark restated a “buy” rating and issued a $160.00 target price on shares of Silicon Laboratories in a research report on Wednesday, March 12th. Stifel Nicolaus dropped their price objective on Silicon Laboratories from $145.00 to $120.00 and set a “buy” rating on the stock in a research note on Thursday. Barclays upped their price objective on Silicon Laboratories from $75.00 to $120.00 and gave the company an “equal weight” rating in a report on Friday, January 17th. Finally, StockNews.com lowered Silicon Laboratories from a “hold” rating to a “sell” rating in a report on Thursday, March 27th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, Silicon Laboratories currently has an average rating of “Hold” and a consensus target price of $133.70.

Insider Activity

In other news, Director William G. Bock sold 1,000 shares of the business’s stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $149.43, for a total value of $149,430.00. Following the sale, the director now owns 31,115 shares in the company, valued at approximately $4,649,514.45. The trade was a 3.11 % decrease in their position. The sale 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 business’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 completion of the transaction, the director now directly owns 400,567 shares of the company’s stock, valued at approximately $59,684,483. This represents a 0.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 5,360 shares of company stock valued at $782,610. 1.60% of the stock is owned by company insiders.

Silicon Laboratories Price Performance

Shares of SLAB stock opened at $90.50 on Friday. The stock’s 50-day moving average is $121.99 and its two-hundred day moving average is $121.56. Silicon Laboratories Inc. has a fifty-two week low of $82.82 and a fifty-two week high of $160.00. The firm has a market cap of $2.94 billion, a P/E ratio of -15.24 and a beta of 1.33.

Silicon Laboratories (NASDAQ:SLAB) last issued its quarterly earnings data on Tuesday, February 4th. The semiconductor company reported ($0.11) EPS for the quarter, meeting analysts’ consensus estimates of ($0.11). The business had revenue of $166.25 million for the quarter, compared to analyst estimates of $166.09 million. Silicon Laboratories had a negative return on equity of 10.46% and a negative net margin of 32.69%. The firm’s revenue for the quarter was up 91.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($1.19) EPS. As a group, research analysts expect that Silicon Laboratories Inc. will post -0.97 EPS 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.