Fisher Asset Management LLC Buys 63,652 Shares of Silicon Laboratories Inc. (NASDAQ:SLAB)

Fisher Asset Management LLC grew its stake in shares of Silicon Laboratories Inc. (NASDAQ:SLAB) by 114.4% in the fourth quarter, according to the company in its most recent filing with the SEC. The firm owned 119,292 shares of the semiconductor company’s stock after acquiring an additional 63,652 shares during the quarter. Fisher Asset Management LLC owned about 0.37% of Silicon Laboratories worth $14,818,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of SLAB. Wellington Management Group LLP raised its holdings in shares of Silicon Laboratories by 28.3% during the 3rd quarter. Wellington Management Group LLP now owns 888,382 shares of the semiconductor company’s stock worth $102,670,000 after buying an additional 195,997 shares in the last quarter. Point72 Asset Management L.P. acquired a new position in shares of Silicon Laboratories during the 3rd quarter worth $7,408,000. FMR LLC raised its holdings in shares of Silicon Laboratories by 1.1% during the 3rd quarter. FMR LLC now owns 4,843,370 shares of the semiconductor company’s stock worth $559,748,000 after buying an additional 54,708 shares in the last quarter. GW&K Investment Management LLC raised its holdings in shares of Silicon Laboratories by 5.6% during the 4th quarter. GW&K Investment Management LLC now owns 682,045 shares of the semiconductor company’s stock worth $84,723,000 after buying an additional 36,330 shares in the last quarter. Finally, SG Americas Securities LLC raised its holdings in shares of Silicon Laboratories by 1,106.4% during the 4th quarter. SG Americas Securities LLC now owns 23,791 shares of the semiconductor company’s stock worth $2,955,000 after buying an additional 21,819 shares in the last quarter.

Insider Buying and Selling at Silicon Laboratories

In other news, Director Navdeep S. Sooch sold 2,360 shares of the company’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 completion of the sale, the director now directly owns 400,567 shares in the company, valued at $59,684,483. This represents a 0.59 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director William G. Bock sold 2,000 shares of the company’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 owns 32,115 shares of the company’s stock, valued at $4,520,828.55. This trade represents a 5.86 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 5,360 shares of company stock worth $782,610. Insiders own 1.72% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have issued reports on SLAB shares. StockNews.com cut Silicon Laboratories from a “hold” rating to a “sell” rating in a report on Friday. Morgan Stanley lowered their target price on Silicon Laboratories from $123.00 to $97.00 and set an “equal weight” rating for the company in a report on Tuesday, November 5th. Susquehanna started coverage on Silicon Laboratories in a report on Tuesday, December 17th. They issued a “neutral” rating and a $130.00 target price for the company. Barclays upped their target price on Silicon Laboratories from $75.00 to $120.00 and gave the stock an “equal weight” rating in a report on Friday, January 17th. Finally, Stifel Nicolaus upped their target price on Silicon Laboratories from $135.00 to $145.00 and gave the stock a “buy” rating in a report on Monday, January 6th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat.com, Silicon Laboratories has a consensus rating of “Hold” and a consensus target price of $136.20.

Silicon Laboratories Price Performance

Shares of NASDAQ:SLAB opened at $133.96 on Tuesday. The stock’s 50-day moving average is $137.95 and its 200 day moving average is $121.80. Silicon Laboratories Inc. has a 1 year low of $94.00 and a 1 year high of $160.00. The company has a market cap of $4.35 billion, a PE ratio of -22.55 and a beta of 1.16.

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

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.