Silicon Laboratories Inc. (NASDAQ:SLAB) Shares Sold by Legal & General Group Plc

Legal & General Group Plc lowered its stake in shares of Silicon Laboratories Inc. (NASDAQ:SLAB) by 4.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 66,519 shares of the semiconductor company’s stock after selling 3,088 shares during the period. Legal & General Group Plc owned about 0.20% of Silicon Laboratories worth $8,263,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Invesco Ltd. boosted its stake in shares of Silicon Laboratories by 46.9% during the 4th quarter. Invesco Ltd. now owns 595,382 shares of the semiconductor company’s stock worth $73,958,000 after acquiring an additional 190,085 shares in the last quarter. Bank of Montreal Can lifted its holdings in shares of Silicon Laboratories by 25.6% in the fourth quarter. Bank of Montreal Can now owns 4,474 shares of the semiconductor company’s stock valued at $556,000 after purchasing an additional 911 shares in the last quarter. FMR LLC boosted its stake in shares of Silicon Laboratories by 0.5% during the fourth quarter. FMR LLC now owns 4,867,203 shares of the semiconductor company’s stock valued at $604,604,000 after acquiring an additional 23,833 shares during the last quarter. Federated Hermes Inc. grew its holdings in shares of Silicon Laboratories by 4.1% during the fourth quarter. Federated Hermes Inc. now owns 638,464 shares of the semiconductor company’s stock worth $79,310,000 after buying an additional 25,178 shares in the last quarter. Finally, Wells Fargo & Company MN boosted its position in Silicon Laboratories by 10.8% during the fourth quarter. Wells Fargo & Company MN now owns 40,988 shares of the semiconductor company’s stock worth $5,092,000 after acquiring an additional 3,996 shares during the last quarter.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on SLAB. Needham & Company LLC reiterated a “buy” rating and issued a $150.00 price target on shares of Silicon Laboratories in a report on Wednesday, March 12th. KeyCorp increased their target price on Silicon Laboratories from $115.00 to $160.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 22nd. Benchmark restated a “buy” rating and issued a $160.00 price target on shares of Silicon Laboratories in a report on Wednesday, March 12th. Barclays increased their price objective 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, StockNews.com downgraded Silicon Laboratories from a “hold” rating to a “sell” rating in a report on Thursday, March 27th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $133.70.

Insiders Place Their Bets

In other Silicon Laboratories 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 sale, the director now owns 400,567 shares in the company, 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 SEC, which is available through this link. Also, Director William G. Bock sold 1,000 shares of the firm’s stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $149.43, for a total value of $149,430.00. Following the transaction, the director now owns 31,115 shares in the company, valued at $4,649,514.45. This trade represents a 3.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 5,360 shares of company stock valued at $782,610 in the last ninety days. Corporate insiders own 1.60% of the company’s stock.

Silicon Laboratories Stock Up 0.6 %

SLAB opened at $90.50 on Friday. The firm has a market capitalization of $2.94 billion, a P/E ratio of -15.24 and a beta of 1.33. The firm’s 50 day moving average is $121.99 and its 200-day moving average is $121.56. Silicon Laboratories Inc. has a 52-week low of $82.82 and a 52-week high of $160.00.

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

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.