Strategic Financial Concepts LLC Purchases New Holdings in Silicon Laboratories Inc. (NASDAQ:SLAB)

Strategic Financial Concepts LLC acquired a new stake in Silicon Laboratories Inc. (NASDAQ:SLAB) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 12,422 shares of the semiconductor company’s stock, valued at approximately $1,543,000.

Other large investors also recently made changes to their positions in the company. FMR LLC boosted its holdings in shares of Silicon Laboratories by 1.1% during the 3rd quarter. FMR LLC now owns 4,843,370 shares of the semiconductor company’s stock valued at $559,748,000 after acquiring an additional 54,708 shares in the last quarter. Wellington Management Group LLP raised its position in shares of Silicon Laboratories by 28.3% during the third quarter. Wellington Management Group LLP now owns 888,382 shares of the semiconductor company’s stock worth $102,670,000 after purchasing an additional 195,997 shares during the period. Geode Capital Management LLC grew its holdings in Silicon Laboratories by 2.1% during the third quarter. Geode Capital Management LLC now owns 781,049 shares of the semiconductor company’s stock worth $90,282,000 after buying an additional 15,728 shares in the last quarter. Franklin Resources Inc. grew its stake in Silicon Laboratories by 1.9% in 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 period. Finally, Schwartz Investment Counsel Inc. grew its stake in shares of Silicon Laboratories by 17.9% during the 3rd quarter. Schwartz Investment Counsel Inc. now owns 230,000 shares of the semiconductor company’s stock worth $26,581,000 after acquiring an additional 35,000 shares during the period.

Silicon Laboratories Stock Up 2.6 %

SLAB opened at $146.38 on Tuesday. Silicon Laboratories Inc. has a 52 week low of $94.00 and a 52 week high of $154.91. The stock’s fifty day moving average is $130.38 and its two-hundred day moving average is $117.36. The company has a market capitalization of $4.75 billion, a P/E ratio of -24.64 and a beta of 1.16.

Silicon Laboratories (NASDAQ:SLAB) last issued its quarterly earnings results on Tuesday, February 4th. The semiconductor company reported ($0.11) EPS for the quarter, hitting analysts’ consensus estimates of ($0.11). Silicon Laboratories had a negative return on equity of 10.46% and a negative net margin of 32.69%. The company had revenue of $166.25 million during the quarter, compared to analysts’ expectations of $166.09 million. During the same quarter in the previous year, the firm posted ($1.19) EPS. The firm’s revenue was up 91.4% compared to the same quarter last year. Equities analysts anticipate that Silicon Laboratories Inc. will post -0.47 earnings per share for the current year.

Insider Activity

In other news, Director William G. Bock sold 2,000 shares of the stock in a transaction on Wednesday, January 22nd. The stock was sold at an average price of $140.77, for a total value of $281,540.00. Following the sale, the director now directly owns 32,115 shares in the company, valued at approximately $4,520,828.55. This trade represents a 5.86 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 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 value of $351,640.00. Following the transaction, the director now directly owns 400,567 shares in the company, valued at approximately $59,684,483. The trade was a 0.59 % decrease in their position. The disclosure for this sale can be found here. Insiders own 1.72% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on SLAB shares. Stifel Nicolaus raised their price objective on Silicon Laboratories from $135.00 to $145.00 and gave the company a “buy” rating in a report on Monday, January 6th. Susquehanna began coverage on Silicon Laboratories in a research note on Tuesday, December 17th. They issued a “neutral” rating and a $130.00 target price for the company. StockNews.com raised Silicon Laboratories from a “sell” rating to a “hold” rating in a report on Thursday, February 6th. KeyCorp increased their target price on Silicon Laboratories from $115.00 to $160.00 and gave the company an “overweight” rating in a report on Wednesday, January 22nd. Finally, Barclays increased their target price on Silicon Laboratories from $75.00 to $120.00 and gave the stock an “equal weight” rating in a research report on Friday, January 17th. Six analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $136.20.

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.