Silicon Laboratories, Inc. (NASDAQ:SLAB) Shares Sold by KLP Kapitalforvaltning AS

KLP Kapitalforvaltning AS decreased its holdings in shares of Silicon Laboratories, Inc. (NASDAQ:SLAB) by 5.9% during the 1st quarter, HoldingsChannel.com reports. The fund owned 6,400 shares of the semiconductor company’s stock after selling 400 shares during the period. KLP Kapitalforvaltning AS’s holdings in Silicon Laboratories were worth $720,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. GAMMA Investing LLC increased its stake in Silicon Laboratories by 99.6% during the 1st quarter. GAMMA Investing LLC now owns 1,126 shares of the semiconductor company’s stock worth $127,000 after buying an additional 562 shares during the period. Principal Financial Group Inc. boosted its stake in Silicon Laboratories by 72.2% during the 1st quarter. Principal Financial Group Inc. now owns 129,911 shares of the semiconductor company’s stock valued at $14,624,000 after purchasing an additional 54,463 shares during the period. KBC Group NV lifted its stake in shares of Silicon Laboratories by 27.1% in the 1st quarter. KBC Group NV now owns 1,625 shares of the semiconductor company’s stock worth $183,000 after acquiring an additional 346 shares during the period. Oppenheimer Asset Management Inc. raised its holdings in shares of Silicon Laboratories by 2.9% in the 1st quarter. Oppenheimer Asset Management Inc. now owns 7,379 shares of the semiconductor company’s stock worth $831,000 after purchasing an additional 210 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC raised its holdings in shares of Silicon Laboratories by 9.7% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 2,334 shares of the semiconductor company’s stock worth $290,000 after purchasing an additional 206 shares in the last quarter.

Silicon Laboratories Stock Performance

NASDAQ:SLAB opened at $137.12 on Wednesday. The company has a 50-day moving average of $137.75 and a 200-day moving average of $128.39. The company has a market capitalization of $4.47 billion, a price-to-earnings ratio of -26.83 and a beta of 1.47. Silicon Laboratories, Inc. has a 52 week low of $82.82 and a 52 week high of $160.00.

Silicon Laboratories (NASDAQ:SLAB) last released its quarterly earnings data on Tuesday, May 13th. The semiconductor company reported ($0.08) EPS for the quarter, topping analysts’ consensus estimates of ($0.09) by $0.01. The company had revenue of $177.71 million during the quarter, compared to the consensus estimate of $177.48 million. Silicon Laboratories had a negative net margin of 25.16% and a negative return on equity of 8.80%. The firm’s revenue for the quarter was up 67.0% compared to the same quarter last year. During the same period last year, the firm earned ($0.92) EPS. Sell-side analysts forecast that Silicon Laboratories, Inc. will post -0.97 EPS for the current year.

Analysts Set New Price Targets

SLAB has been the topic of several research reports. Stifel Nicolaus upped their price objective on shares of Silicon Laboratories from $144.00 to $160.00 and gave the company a “buy” rating in a research note on Friday, July 18th. Wall Street Zen raised shares of Silicon Laboratories from a “sell” rating to a “hold” rating in a report on Wednesday, May 14th. KeyCorp upped their price objective on shares of Silicon Laboratories from $160.00 to $180.00 and gave the stock an “overweight” rating in a report on Tuesday, July 8th. Benchmark reissued a “buy” rating and issued a $160.00 price target on shares of Silicon Laboratories in a report on Tuesday, May 27th. Finally, Barclays reduced their price target on shares of Silicon Laboratories from $120.00 to $80.00 and set an “equal weight” rating for the company in a report on Tuesday, April 22nd. Four equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $139.00.

Insider Activity at Silicon Laboratories

In related news, CEO Robert Matthew Johnson sold 5,879 shares of Silicon Laboratories stock in a transaction dated Friday, May 16th. The shares were sold at an average price of $131.20, for a total transaction of $771,324.80. Following the completion of the transaction, the chief executive officer directly owned 73,688 shares of the company’s stock, valued at $9,667,865.60. This trade represents a 7.39% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Christy Wyatt sold 546 shares of Silicon Laboratories stock in a transaction dated Tuesday, May 6th. The shares were sold at an average price of $104.45, for a total transaction of $57,029.70. Following the transaction, the director directly owned 8,492 shares of the company’s stock, valued at $886,989.40. This represents a 6.04% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 11,626 shares of company stock valued at $1,509,319 in the last ninety days. Insiders own 1.60% of the company’s stock.

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.