Cibc World Markets Corp Takes Position in Silicon Laboratories Inc. (NASDAQ:SLAB)

Cibc World Markets Corp acquired a new stake in Silicon Laboratories Inc. (NASDAQ:SLAB) in the 4th quarter, Holdings Channel.com reports. The firm acquired 2,999 shares of the semiconductor company’s stock, valued at approximately $373,000.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Jones Financial Companies Lllp increased its holdings 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. Advisors Asset Management Inc. grew its holdings in shares of Silicon Laboratories by 159.4% in the 3rd quarter. Advisors Asset Management Inc. now owns 275 shares of the semiconductor company’s stock worth $32,000 after acquiring an additional 169 shares during the period. Venturi Wealth Management LLC increased its stake in Silicon Laboratories by 207.0% in the 4th quarter. Venturi Wealth Management LLC now owns 786 shares of the semiconductor company’s stock valued at $98,000 after purchasing an additional 530 shares in the last quarter. Asset Management One Co. Ltd. acquired a new position in Silicon Laboratories during the fourth quarter worth $117,000. Finally, KBC Group NV boosted its position in Silicon Laboratories by 42.1% during the fourth quarter. KBC Group NV now owns 1,279 shares of the semiconductor company’s stock worth $159,000 after purchasing an additional 379 shares in the last quarter.

Silicon Laboratories Price Performance

SLAB opened at $123.57 on Monday. The stock has a market capitalization of $4.01 billion, a price-to-earnings ratio of -20.80 and a beta of 1.15. Silicon Laboratories Inc. has a 12 month low of $94.00 and a 12 month high of $160.00. The business has a 50-day moving average of $138.03 and a two-hundred day moving average of $123.28.

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

Wall Street Analysts Forecast Growth

SLAB has been the subject of a number of research analyst reports. StockNews.com upgraded Silicon Laboratories from a “sell” rating to a “hold” rating in a research report on Tuesday, March 18th. Susquehanna assumed coverage on shares of Silicon Laboratories in a report on Tuesday, December 17th. They set a “neutral” rating and a $130.00 target price for the company. Stifel Nicolaus upped their price target on shares of Silicon Laboratories from $135.00 to $145.00 and gave the company a “buy” rating in a report on Monday, January 6th. Benchmark reissued a “buy” rating and set a $160.00 price objective on shares of Silicon Laboratories in a research note on Wednesday, March 12th. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $150.00 target price on shares of Silicon Laboratories in a research note on Wednesday, March 12th. Six research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat, Silicon Laboratories presently has an average rating of “Moderate Buy” and a consensus price target of $136.20.

Insider Activity

In other news, Director Navdeep S. Sooch sold 2,360 shares of the company’s stock in a transaction dated 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 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director William G. Bock sold 2,000 shares of the firm’s stock in a transaction dated Wednesday, January 22nd. The shares were sold at an average price of $140.77, for a total value of $281,540.00. Following the sale, the director now owns 32,115 shares in the company, valued at approximately $4,520,828.55. The trade was a 5.86 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 5,360 shares of company stock valued at $782,610. Company insiders own 1.72% of the company’s stock.

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.