Zions Bancorporation N.A. Increases Position in Silicon Laboratories Inc. (NASDAQ:SLAB)

Zions Bancorporation N.A. boosted its stake in shares of Silicon Laboratories Inc. (NASDAQ:SLAB) by 19.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 14,265 shares of the semiconductor company’s stock after purchasing an additional 2,303 shares during the quarter. Zions Bancorporation N.A.’s holdings in Silicon Laboratories were worth $1,772,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Jones Financial Companies Lllp boosted its holdings in shares of Silicon Laboratories by 44.5% in the 4th quarter. Jones Financial Companies Lllp now owns 224 shares of the semiconductor company’s stock valued at $28,000 after buying an additional 69 shares in the last quarter. Pacer Advisors Inc. lifted its position in Silicon Laboratories by 1.8% during the fourth quarter. Pacer Advisors Inc. now owns 4,839 shares of the semiconductor company’s stock valued at $601,000 after acquiring an additional 87 shares during the last quarter. Louisiana State Employees Retirement System boosted its stake in Silicon Laboratories by 1.1% in the fourth quarter. Louisiana State Employees Retirement System now owns 9,000 shares of the semiconductor company’s stock valued at $1,118,000 after acquiring an additional 100 shares in the last quarter. Oppenheimer Asset Management Inc. grew its holdings in Silicon Laboratories by 1.4% in the fourth quarter. Oppenheimer Asset Management Inc. now owns 7,169 shares of the semiconductor company’s stock worth $891,000 after purchasing an additional 102 shares during the last quarter. Finally, Procyon Advisors LLC increased its position in shares of Silicon Laboratories by 4.4% during the fourth quarter. Procyon Advisors LLC now owns 3,176 shares of the semiconductor company’s stock worth $395,000 after purchasing an additional 133 shares in the last quarter.

Silicon Laboratories Stock Down 1.8 %

Shares of Silicon Laboratories stock opened at $123.03 on Wednesday. The firm has a market cap of $4.00 billion, a PE ratio of -20.71 and a beta of 1.15. Silicon Laboratories Inc. has a twelve month low of $94.00 and a twelve month high of $160.00. The business has a 50-day moving average price of $137.67 and a 200 day moving average price of $123.52.

Silicon Laboratories (NASDAQ:SLAB) last posted 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). Silicon Laboratories had a negative return on equity of 10.46% and a negative net margin of 32.69%. The business had revenue of $166.25 million during the quarter, compared to analysts’ expectations of $166.09 million. During the same period in the previous year, the business earned ($1.19) earnings per share. The business’s revenue was up 91.4% compared to the same quarter last year. On average, sell-side analysts expect that Silicon Laboratories Inc. will post -0.97 EPS for the current year.

Analysts Set New Price Targets

SLAB has been the topic of several research analyst reports. Barclays boosted their target price on Silicon Laboratories from $75.00 to $120.00 and gave the stock an “equal weight” rating in a research note on Friday, January 17th. Benchmark restated a “buy” rating and set a $160.00 price target on shares of Silicon Laboratories in a research note on Wednesday, March 12th. Susquehanna began coverage on shares of Silicon Laboratories in a research report on Tuesday, December 17th. They issued a “neutral” rating and a $130.00 price objective for the company. Needham & Company LLC reiterated a “buy” rating and issued a $150.00 target price on shares of Silicon Laboratories in a research note on Wednesday, March 12th. Finally, Stifel Nicolaus upped their price target 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. Six analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Silicon Laboratories presently has an average rating of “Moderate Buy” and an average target price of $136.20.

Insider Buying and Selling at Silicon Laboratories

In other Silicon Laboratories news, Director William G. Bock sold 2,000 shares of the stock in a transaction that occurred on Wednesday, January 22nd. The stock was sold at an average price of $140.77, for a total transaction of $281,540.00. Following the completion of the transaction, the director now owns 32,115 shares of the company’s stock, valued at $4,520,828.55. This 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 available through this hyperlink. Also, Director Navdeep S. Sooch sold 2,360 shares of Silicon Laboratories stock in a transaction that occurred on Wednesday, February 5th. The stock was sold at an average price of $149.00, for a total value of $351,640.00. Following the completion of 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 a total of 5,360 shares of company stock valued at $782,610 over the last ninety days. Corporate insiders own 1.72% of the company’s stock.

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.