Franklin Resources Inc. Sells 8,220 Shares of Silicon Laboratories Inc. (NASDAQ:SLAB)

Franklin Resources Inc. cut its stake in Silicon Laboratories Inc. (NASDAQ:SLAB) by 3.5% during the 4th quarter, HoldingsChannel.com reports. The fund owned 223,669 shares of the semiconductor company’s stock after selling 8,220 shares during the period. Franklin Resources Inc.’s holdings in Silicon Laboratories were worth $27,784,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the company. Jones Financial Companies Lllp boosted its stake 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 purchasing an additional 69 shares during the last quarter. Venturi Wealth Management LLC lifted its holdings in Silicon Laboratories by 207.0% in the fourth quarter. Venturi Wealth Management LLC now owns 786 shares of the semiconductor company’s stock valued at $98,000 after buying an additional 530 shares during the period. Asset Management One Co. Ltd. bought a new stake in Silicon Laboratories during the fourth quarter valued at $117,000. KBC Group NV grew its holdings in Silicon Laboratories by 42.1% during the 4th quarter. KBC Group NV now owns 1,279 shares of the semiconductor company’s stock worth $159,000 after acquiring an additional 379 shares during the period. Finally, O Shaughnessy Asset Management LLC bought a new position in shares of Silicon Laboratories in the 4th quarter worth about $214,000.

Silicon Laboratories Price Performance

Shares of NASDAQ SLAB opened at $92.08 on Friday. The company has a 50-day moving average price of $133.58 and a 200-day moving average price of $123.56. The stock has a market capitalization of $2.99 billion, a P/E ratio of -15.50 and a beta of 1.33. Silicon Laboratories Inc. has a 1 year low of $89.05 and a 1 year high of $160.00.

Silicon Laboratories (NASDAQ:SLAB) last issued its quarterly earnings data 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 firm had revenue of $166.25 million during the quarter, compared to analyst estimates of $166.09 million. During the same period in the previous year, the company posted ($1.19) EPS. The company’s revenue for the quarter was up 91.4% on a year-over-year basis. As a group, equities research analysts anticipate that Silicon Laboratories Inc. will post -0.97 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts recently commented on SLAB shares. KeyCorp raised their target price on Silicon Laboratories from $115.00 to $160.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 22nd. Benchmark reaffirmed a “buy” rating and set a $160.00 price objective on shares of Silicon Laboratories in a research report on Wednesday, March 12th. Stifel Nicolaus boosted their target price on shares of Silicon Laboratories from $135.00 to $145.00 and gave the company a “buy” rating in a research report on Monday, January 6th. Barclays increased their target price on shares of Silicon Laboratories from $75.00 to $120.00 and gave the stock an “equal weight” rating in a research note on Friday, January 17th. Finally, Susquehanna initiated coverage on shares of Silicon Laboratories in a report on Tuesday, December 17th. They set a “neutral” rating and a $130.00 price objective on the stock. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat, Silicon Laboratories has a consensus rating of “Hold” and an average target price of $136.20.

Insider Buying and Selling at Silicon Laboratories

In other Silicon Laboratories news, Director Navdeep S. Sooch sold 2,360 shares of the company’s stock in a transaction dated Wednesday, February 5th. The shares were sold at an average price of $149.00, for a total transaction of $351,640.00. Following the sale, the director now directly owns 400,567 shares of the company’s stock, valued at $59,684,483. This represents a 0.59 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director William G. Bock sold 2,000 shares of Silicon Laboratories stock in a transaction dated 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. The trade was a 5.86 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 5,360 shares of company stock worth $782,610. Insiders own 1.60% 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.