Silicon Laboratories Inc. (NASDAQ:SLAB) Shares Sold by Public Employees Retirement Association of Colorado

Public Employees Retirement Association of Colorado lowered its stake in shares of Silicon Laboratories Inc. (NASDAQ:SLAB) by 6.7% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,507 shares of the semiconductor company’s stock after selling 250 shares during the quarter. Public Employees Retirement Association of Colorado’s holdings in Silicon Laboratories were worth $504,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Raymond James & Associates boosted its position in Silicon Laboratories by 0.7% during the 4th quarter. Raymond James & Associates now owns 79,620 shares of the semiconductor company’s stock worth $10,531,000 after acquiring an additional 574 shares during the period. Pacer Advisors Inc. boosted its position in Silicon Laboratories by 81.1% during the 4th quarter. Pacer Advisors Inc. now owns 4,769 shares of the semiconductor company’s stock worth $631,000 after acquiring an additional 2,135 shares during the period. International Assets Investment Management LLC boosted its position in Silicon Laboratories by 429.1% during the 4th quarter. International Assets Investment Management LLC now owns 926 shares of the semiconductor company’s stock worth $122,000 after acquiring an additional 751 shares during the period. Schwartz Investment Counsel Inc. boosted its position in Silicon Laboratories by 69.6% during the 4th quarter. Schwartz Investment Counsel Inc. now owns 195,000 shares of the semiconductor company’s stock worth $25,793,000 after acquiring an additional 80,000 shares during the period. Finally, Moody Aldrich Partners LLC boosted its position in Silicon Laboratories by 29.4% during the 4th quarter. Moody Aldrich Partners LLC now owns 17,981 shares of the semiconductor company’s stock worth $2,378,000 after acquiring an additional 4,086 shares during the period.

Analysts Set New Price Targets

A number of research analysts have issued reports on the company. TD Cowen reduced their price target on Silicon Laboratories from $155.00 to $145.00 and set a “buy” rating for the company in a research report on Thursday, April 25th. Citigroup cut their price objective on Silicon Laboratories from $137.00 to $120.00 and set a “neutral” rating for the company in a report on Thursday, April 25th. Benchmark restated a “hold” rating on shares of Silicon Laboratories in a report on Thursday, April 25th. Barclays cut their price objective on Silicon Laboratories from $140.00 to $120.00 and set an “equal weight” rating for the company in a report on Thursday, April 25th. Finally, Summit Insights lowered Silicon Laboratories from a “buy” rating to a “hold” rating in a report on Wednesday, April 24th. One analyst has rated the stock with a sell rating, five have issued a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $135.00.

Insider Transactions at Silicon Laboratories

In other news, CEO Robert Matthew Johnson sold 7,230 shares of the business’s stock in a transaction on Monday, June 3rd. The stock was sold at an average price of $123.80, for a total transaction of $895,074.00. Following the sale, the chief executive officer now directly owns 47,910 shares of the company’s stock, valued at $5,931,258. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.72% of the stock is owned by insiders.

Silicon Laboratories Stock Down 6.9 %

Shares of Silicon Laboratories stock opened at $111.79 on Friday. The stock’s fifty day moving average is $117.62 and its 200-day moving average is $126.36. Silicon Laboratories Inc. has a 12-month low of $74.56 and a 12-month high of $154.91.

Silicon Laboratories (NASDAQ:SLAB) last announced its earnings results on Wednesday, July 24th. The semiconductor company reported ($0.56) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.64) by $0.08. The company had revenue of $145.40 million for the quarter, compared to analyst estimates of $140.18 million. Silicon Laboratories had a negative return on equity of 9.13% and a negative net margin of 36.53%. Silicon Laboratories’s revenue for the quarter was down 40.6% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.59 earnings per share. As a group, sell-side analysts predict that Silicon Laboratories Inc. will post -3.4 EPS for the current fiscal year.

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.