Granite Investment Partners LLC Buys 3,019 Shares of Silicon Laboratories Inc. (NASDAQ:SLAB)

Granite Investment Partners LLC lifted its position in Silicon Laboratories Inc. (NASDAQ:SLAB) by 6.6% during the 4th quarter, Holdings Channel reports. The firm owned 48,614 shares of the semiconductor company’s stock after buying an additional 3,019 shares during the quarter. Granite Investment Partners LLC’s holdings in Silicon Laboratories were worth $6,039,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in the company. Jones Financial Companies Lllp lifted its position in Silicon Laboratories by 44.5% during 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 period. Pacer Advisors Inc. raised its stake in shares of Silicon Laboratories by 1.8% during the fourth quarter. Pacer Advisors Inc. now owns 4,839 shares of the semiconductor company’s stock worth $601,000 after buying an additional 87 shares during the last quarter. Louisiana State Employees Retirement System raised its stake in shares of Silicon Laboratories by 1.1% during the fourth quarter. Louisiana State Employees Retirement System now owns 9,000 shares of the semiconductor company’s stock worth $1,118,000 after buying an additional 100 shares during the last quarter. Oppenheimer Asset Management Inc. lifted 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 valued at $891,000 after buying an additional 102 shares during the period. Finally, Procyon Advisors LLC boosted its stake in Silicon Laboratories by 4.4% in the fourth quarter. Procyon Advisors LLC now owns 3,176 shares of the semiconductor company’s stock valued at $395,000 after acquiring an additional 133 shares during the last quarter.

Insider Buying and Selling at Silicon Laboratories

In other news, Director Navdeep S. Sooch sold 2,360 shares of the firm’s stock in a transaction that occurred on Wednesday, February 5th. The shares were sold at an average price of $149.00, for a total transaction of $351,640.00. Following the completion of the transaction, the director now directly owns 400,567 shares of the company’s stock, valued at $59,684,483. This trade represents a 0.59 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director William G. Bock sold 2,000 shares of the business’s stock in a transaction 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 sale, the director now directly owns 32,115 shares in the company, valued at approximately $4,520,828.55. This represents a 5.86 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 5,360 shares of company stock valued at $782,610 in the last 90 days. 1.60% of the stock is currently owned by company insiders.

Silicon Laboratories Stock Performance

Shares of SLAB stock opened at $89.82 on Monday. Silicon Laboratories Inc. has a 52 week low of $82.82 and a 52 week high of $160.00. The company’s 50 day moving average price is $127.57 and its two-hundred day moving average price is $122.49. The company has a market capitalization of $2.92 billion, a P/E ratio of -15.12 and a beta of 1.33.

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). The business had revenue of $166.25 million for the quarter, compared to analyst estimates of $166.09 million. Silicon Laboratories had a negative net margin of 32.69% and a negative return on equity of 10.46%. The firm’s quarterly revenue was up 91.4% on a year-over-year basis. During the same period last year, the business posted ($1.19) earnings per share. Analysts forecast that Silicon Laboratories Inc. will post -0.97 earnings per share for the current year.

Analysts Set New Price Targets

SLAB has been the topic of a number of analyst reports. Stifel Nicolaus increased their price target on Silicon Laboratories from $135.00 to $145.00 and gave the company a “buy” rating in a research note on Monday, January 6th. Needham & Company LLC reissued a “buy” rating and issued a $150.00 target price on shares of Silicon Laboratories in a research note on Wednesday, March 12th. KeyCorp boosted their target price on Silicon Laboratories from $115.00 to $160.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 22nd. Susquehanna assumed coverage on shares of Silicon Laboratories in a research report on Tuesday, December 17th. They issued a “neutral” rating and a $130.00 price target on the stock. Finally, Barclays lifted their price objective 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. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $136.20.

About Silicon Laboratories

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.