Pier 88 Investment Partners LLC Has $642,000 Stock Position in Silicon Laboratories Inc. (NASDAQ:SLAB)

Pier 88 Investment Partners LLC lessened its holdings in Silicon Laboratories Inc. (NASDAQ:SLAB) by 11.9% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,172 shares of the semiconductor company’s stock after selling 700 shares during the period. Pier 88 Investment Partners LLC’s holdings in Silicon Laboratories were worth $642,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in SLAB. Jones Financial Companies Lllp increased its holdings in Silicon Laboratories by 44.5% during the 4th quarter. Jones Financial Companies Lllp now owns 224 shares of the semiconductor company’s stock worth $28,000 after purchasing an additional 69 shares in the last quarter. Advisors Asset Management Inc. boosted its position in shares of Silicon Laboratories by 159.4% during the third quarter. Advisors Asset Management Inc. now owns 275 shares of the semiconductor company’s stock valued at $32,000 after buying an additional 169 shares during the last quarter. Venturi Wealth Management LLC grew its holdings in Silicon Laboratories by 207.0% during the fourth quarter. Venturi Wealth Management LLC now owns 786 shares of the semiconductor company’s stock worth $98,000 after buying an additional 530 shares in the last quarter. Asset Management One Co. Ltd. purchased a new stake in Silicon Laboratories in the 4th quarter valued at $117,000. Finally, KBC Group NV lifted its stake in Silicon Laboratories by 42.1% during the 4th quarter. KBC Group NV now owns 1,279 shares of the semiconductor company’s stock valued at $159,000 after acquiring an additional 379 shares in the last quarter.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on SLAB. KeyCorp upped their target price on shares of Silicon Laboratories from $115.00 to $160.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 22nd. StockNews.com downgraded shares of Silicon Laboratories from a “hold” rating to a “sell” rating in a research report on Thursday. Stifel Nicolaus lifted their target price on shares of Silicon Laboratories from $135.00 to $145.00 and gave the stock a “buy” rating in a research report on Monday, January 6th. Benchmark restated a “buy” rating and issued a $160.00 target price on shares of Silicon Laboratories in a research note on Wednesday, March 12th. Finally, Barclays increased their price target on Silicon Laboratories from $75.00 to $120.00 and gave the company an “equal weight” rating in a research report on Friday, January 17th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $136.20.

Silicon Laboratories Trading Down 5.5 %

Silicon Laboratories stock opened at $113.03 on Monday. The business’s 50 day simple moving average is $136.65 and its 200 day simple moving average is $123.76. Silicon Laboratories Inc. has a 12 month low of $94.00 and a 12 month high of $160.00. The company has a market cap of $3.67 billion, a price-to-earnings ratio of -19.03 and a beta of 1.15.

Silicon Laboratories (NASDAQ:SLAB) last issued its quarterly earnings results 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 firm had revenue of $166.25 million for the quarter, compared to analysts’ expectations of $166.09 million. During the same quarter in the prior year, the firm earned ($1.19) EPS. The business’s revenue for the quarter was up 91.4% compared to the same quarter last year. As a group, equities research analysts forecast that Silicon Laboratories Inc. will post -0.97 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, Director William G. Bock sold 2,000 shares of the company’s stock in a transaction that occurred on Wednesday, January 22nd. The shares were sold at an average price of $140.77, for a total transaction of $281,540.00. Following 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 sale was disclosed in a filing with the SEC, which can be accessed 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 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 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 disclosure for this sale can be found here. Insiders sold 5,360 shares of company stock worth $782,610 over the last quarter. 1.60% of the stock is currently owned by company insiders.

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.