Redmond Asset Management LLC Has $1.44 Million Position in Silicon Laboratories Inc. (NASDAQ:SLAB)

Redmond Asset Management LLC reduced its stake in shares of Silicon Laboratories Inc. (NASDAQ:SLAB) by 3.3% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 11,570 shares of the semiconductor company’s stock after selling 400 shares during the quarter. Redmond Asset Management LLC’s holdings in Silicon Laboratories were worth $1,437,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of SLAB. Wellington Management Group LLP grew its position in shares of 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 buying an additional 195,997 shares during the period. Point72 Asset Management L.P. acquired a new position in shares of Silicon Laboratories during the 3rd quarter worth about $7,408,000. FMR LLC grew its position 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 worth $559,748,000 after buying an additional 54,708 shares during the period. Schwartz Investment Counsel Inc. grew its position 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 buying an additional 35,000 shares during the period. Finally, SG Americas Securities LLC lifted its holdings in shares of Silicon Laboratories by 1,106.4% during the 4th quarter. SG Americas Securities LLC now owns 23,791 shares of the semiconductor company’s stock valued at $2,955,000 after purchasing an additional 21,819 shares in the last quarter.

Silicon Laboratories Stock Performance

NASDAQ SLAB opened at $155.33 on Friday. The stock’s 50 day moving average price is $136.14 and its two-hundred day moving average price is $119.75. Silicon Laboratories Inc. has a 52 week low of $94.00 and a 52 week high of $160.00.

Silicon Laboratories (NASDAQ:SLAB) last released its earnings results on Tuesday, February 4th. The semiconductor company reported ($0.11) EPS for the quarter, meeting the consensus estimate of ($0.11). The firm had revenue of $166.25 million for the quarter, compared to analysts’ expectations 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 quarterly revenue was up 91.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($1.19) EPS. Analysts anticipate that Silicon Laboratories Inc. will post -0.97 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the company. Barclays lifted 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. Needham & Company LLC lifted their price objective on Silicon Laboratories from $140.00 to $150.00 and gave the company a “buy” rating in a report on Wednesday, February 5th. Susquehanna assumed coverage on Silicon Laboratories in a report on Tuesday, December 17th. They set a “neutral” rating and a $130.00 price objective on the stock. JPMorgan Chase & Co. cut their price objective on Silicon Laboratories from $150.00 to $135.00 and set an “overweight” rating on the stock in a report on Tuesday, November 5th. Finally, KeyCorp lifted their price objective on Silicon Laboratories from $115.00 to $160.00 and gave the company an “overweight” rating in a report on Wednesday, January 22nd. One research analyst has rated the stock with a sell rating, five have given a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $136.20.

Insider Buying and Selling at Silicon Laboratories

In other news, Director Navdeep S. Sooch sold 2,360 shares of the company’s stock in a transaction that occurred on 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 owns 400,567 shares in the company, valued at $59,684,483. This represents a 0.59 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, Director William G. Bock sold 1,000 shares of the business’s stock in a transaction that occurred on Tuesday, February 18th. The stock was 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 $4,649,514.45. The trade was a 3.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 5,360 shares of company stock worth $782,610. Corporate insiders own 1.72% of the company’s stock.

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.