Invesco Ltd. Has $73.96 Million Holdings in Silicon Laboratories Inc. (NASDAQ:SLAB)

Invesco Ltd. raised its position in Silicon Laboratories Inc. (NASDAQ:SLAB) by 46.9% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 595,382 shares of the semiconductor company’s stock after buying an additional 190,085 shares during the quarter. Invesco Ltd.’s holdings in Silicon Laboratories were worth $73,958,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in SLAB. MML Investors Services LLC boosted its stake in Silicon Laboratories by 5.3% in the third quarter. MML Investors Services LLC now owns 7,328 shares of the semiconductor company’s stock valued at $847,000 after buying an additional 370 shares in the last quarter. Barclays PLC boosted its stake in shares of Silicon Laboratories by 23.4% in the 3rd quarter. Barclays PLC now owns 70,568 shares of the semiconductor company’s stock valued at $8,157,000 after purchasing an additional 13,363 shares in the last quarter. Geode Capital Management LLC increased its position in Silicon Laboratories by 2.1% during the 3rd quarter. Geode Capital Management LLC now owns 781,049 shares of the semiconductor company’s stock worth $90,282,000 after purchasing an additional 15,728 shares in the last quarter. Tidal Investments LLC bought a new position in Silicon Laboratories in the 3rd quarter valued at approximately $520,000. Finally, Franklin Resources Inc. grew its stake in shares of Silicon Laboratories by 1.9% during the third quarter. Franklin Resources Inc. now owns 231,889 shares of the semiconductor company’s stock worth $27,001,000 after buying an additional 4,278 shares during the last quarter.

Silicon Laboratories Trading Up 1.6 %

SLAB stock opened at $91.30 on Tuesday. Silicon Laboratories Inc. has a 1-year low of $82.82 and a 1-year high of $160.00. The stock has a 50-day moving average price of $126.42 and a 200-day moving average price of $122.32. The firm has a market cap of $2.96 billion, a PE ratio of -15.37 and a beta of 1.33.

Silicon Laboratories (NASDAQ:SLAB) last posted its quarterly earnings results on Tuesday, February 4th. The semiconductor company reported ($0.11) earnings per share (EPS) for the quarter, hitting 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 period in the prior year, the business earned ($1.19) EPS. The company’s revenue for the quarter was up 91.4% compared to the same quarter last year. On average, analysts forecast that Silicon Laboratories Inc. will post -0.97 earnings per share for the current year.

Analysts Set New Price Targets

SLAB has been the topic of several recent research reports. KeyCorp raised their price objective on Silicon Laboratories from $115.00 to $160.00 and gave the company an “overweight” rating in a report on Wednesday, January 22nd. StockNews.com lowered shares of Silicon Laboratories from a “hold” rating to a “sell” rating in a report on Thursday, March 27th. Benchmark reissued a “buy” rating and set a $160.00 target price on shares of Silicon Laboratories in a report on Wednesday, March 12th. Barclays lifted their price target on shares of Silicon Laboratories from $75.00 to $120.00 and gave the stock an “equal weight” rating in a report on Friday, January 17th. Finally, Susquehanna assumed coverage on Silicon Laboratories in a report on Tuesday, December 17th. They set a “neutral” rating and a $130.00 target price on the stock. One research analyst has rated the stock with a sell rating, five have issued a hold rating and six have given a buy rating to the company. According to MarketBeat, Silicon Laboratories presently has an average rating of “Hold” and a consensus price target of $136.20.

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 that occurred on Wednesday, February 5th. The stock was sold at an average price of $149.00, for a total transaction of $351,640.00. Following the transaction, the director now directly 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 document filed with the Securities & Exchange Commission, which is available through this link. Also, Director William G. Bock sold 2,000 shares of the business’s stock in a transaction 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 owns 32,115 shares of the company’s stock, valued at $4,520,828.55. This trade represents a 5.86 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 5,360 shares of company stock valued at $782,610. Corporate insiders own 1.60% 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.