Ontario Teachers Pension Plan Board Makes New Investment in Silicon Laboratories Inc. (NASDAQ:SLAB)

Ontario Teachers Pension Plan Board bought a new stake in Silicon Laboratories Inc. (NASDAQ:SLAB) during the 4th quarter, Holdings Channel.com reports. The institutional investor bought 14,582 shares of the semiconductor company’s stock, valued at approximately $1,811,000.

Several other large investors have also made changes to their positions in SLAB. Jones Financial Companies Lllp boosted its position in Silicon Laboratories by 44.5% in the fourth 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. Headlands Technologies LLC bought a new stake in Silicon Laboratories during the 4th quarter worth approximately $70,000. Venturi Wealth Management LLC grew its position in Silicon Laboratories by 207.0% during the 4th quarter. Venturi Wealth Management LLC now owns 786 shares of the semiconductor company’s stock worth $98,000 after acquiring an additional 530 shares during the last quarter. Asset Management One Co. Ltd. bought a new position in Silicon Laboratories in the 4th quarter valued at $117,000. Finally, KBC Group NV raised its position in Silicon Laboratories by 42.1% in the 4th quarter. KBC Group NV now owns 1,279 shares of the semiconductor company’s stock valued at $159,000 after purchasing an additional 379 shares during the last quarter.

Wall Street Analysts Forecast Growth

SLAB has been the subject of a number of research reports. Stifel Nicolaus raised their target price on Silicon Laboratories from $135.00 to $145.00 and gave the company a “buy” rating in a research note on Monday, January 6th. Susquehanna started 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. Benchmark reiterated a “buy” rating and set a $160.00 target price on shares of Silicon Laboratories in a research report on Wednesday, March 12th. Barclays boosted 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 report on Friday, January 17th. Finally, StockNews.com lowered Silicon Laboratories from a “hold” rating to a “sell” rating in a research report on Thursday, March 27th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and six have given a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $136.20.

Silicon Laboratories Stock Up 0.3 %

SLAB stock opened at $91.60 on Wednesday. Silicon Laboratories Inc. has a twelve month low of $82.82 and a twelve month high of $160.00. The company has a market cap of $2.97 billion, a P/E ratio of -15.42 and a beta of 1.33. The business’s fifty day moving average is $125.30 and its 200-day moving average is $122.10.

Silicon Laboratories (NASDAQ:SLAB) last released its earnings results on Tuesday, February 4th. The semiconductor company reported ($0.11) earnings per share for the quarter, meeting the consensus estimate of ($0.11). The firm had revenue of $166.25 million for the quarter, compared to analyst estimates of $166.09 million. Silicon Laboratories had a negative return on equity of 10.46% and a negative net margin of 32.69%. The company’s quarterly revenue was up 91.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($1.19) earnings per share. Research analysts anticipate that Silicon Laboratories Inc. will post -0.97 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director William G. Bock sold 1,000 shares of the company’s stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $149.43, for a total value of $149,430.00. Following the completion of the sale, the director now owns 31,115 shares in the company, valued at $4,649,514.45. This represents a 3.11 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Navdeep S. Sooch sold 2,360 shares of the firm’s stock in a transaction 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 sale, the director now directly owns 400,567 shares in the company, valued at $59,684,483. The trade was a 0.59 % 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 owned by insiders.

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.