Silicon Laboratories Inc. (NASDAQ:SLAB) Position Reduced by Redmond Asset Management LLC

Redmond Asset Management LLC cut its position in shares of Silicon Laboratories Inc. (NASDAQ:SLAB) by 3.3% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 11,570 shares of the semiconductor company’s stock after selling 400 shares during the quarter. Redmond Asset Management LLC’s holdings in Silicon Laboratories were worth $1,437,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Franklin Resources Inc. lifted its stake in Silicon Laboratories by 1.9% during the third quarter. Franklin Resources Inc. now owns 231,889 shares of the semiconductor company’s stock valued at $27,001,000 after buying an additional 4,278 shares in the last quarter. Point72 Asset Management L.P. purchased a new stake in shares of Silicon Laboratories in the third quarter worth approximately $7,408,000. Intech Investment Management LLC lifted its position in shares of Silicon Laboratories by 82.9% in the third quarter. Intech Investment Management LLC now owns 12,837 shares of the semiconductor company’s stock worth $1,484,000 after purchasing an additional 5,818 shares in the last quarter. Barclays PLC lifted its position in shares of Silicon Laboratories by 23.4% in the third quarter. Barclays PLC now owns 70,568 shares of the semiconductor company’s stock worth $8,157,000 after purchasing an additional 13,363 shares in the last quarter. Finally, Premier Fund Managers Ltd purchased a new stake in shares of Silicon Laboratories in the third quarter worth approximately $934,000.

Silicon Laboratories Price Performance

Shares of NASDAQ SLAB opened at $155.33 on Friday. The business has a fifty day moving average of $136.14 and a two-hundred day moving average of $119.75. Silicon Laboratories Inc. has a 52-week low of $94.00 and a 52-week high of $160.00.

Silicon Laboratories (NASDAQ:SLAB) last announced its earnings results on Tuesday, February 4th. The semiconductor company reported ($0.11) earnings per share 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 company had revenue of $166.25 million during the quarter, compared to analyst estimates of $166.09 million. During the same period last year, the company posted ($1.19) earnings per share. The firm’s quarterly revenue was up 91.4% compared to the same quarter last year. As a group, equities analysts forecast that Silicon Laboratories Inc. will post -0.97 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of research firms have recently issued reports on SLAB. Needham & Company LLC increased their price target on shares of Silicon Laboratories from $140.00 to $150.00 and gave the stock a “buy” rating in a research report on Wednesday, February 5th. Stifel Nicolaus increased their price target 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 raised shares of Silicon Laboratories from a “hold” rating to a “buy” rating and set a $160.00 price target for the company in a research report on Wednesday, February 5th. KeyCorp increased their price target on shares of Silicon Laboratories from $115.00 to $160.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 22nd. Finally, Morgan Stanley reduced their price target on shares of Silicon Laboratories from $123.00 to $97.00 and set an “equal weight” rating for the company in a research report on Tuesday, November 5th. One research analyst has rated the stock with a sell rating, five have given a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $136.20.

Insider Activity

In other news, Director William G. Bock sold 2,000 shares of the firm’s stock in a transaction on Wednesday, January 22nd. The stock was sold at an average price of $140.77, for a total value 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 trade represents a 5.86 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Navdeep S. Sooch sold 2,360 shares of the firm’s stock in a transaction on Wednesday, February 5th. The shares were 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 owns 400,567 shares of the company’s stock, valued at approximately $59,684,483. This trade represents a 0.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 5,360 shares of company stock worth $782,610. 1.72% of the stock is owned by corporate insiders.

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.