Silvercrest Asset Management Group LLC Boosts Stock Position in Silicon Laboratories Inc. (NASDAQ:SLAB)

Silvercrest Asset Management Group LLC raised its stake in Silicon Laboratories Inc. (NASDAQ:SLAB) by 0.3% during the 1st quarter, Holdings Channel.com reports. The firm owned 100,910 shares of the semiconductor company’s stock after buying an additional 332 shares during the quarter. Silvercrest Asset Management Group LLC’s holdings in Silicon Laboratories were worth $14,503,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in SLAB. Raymond James & Associates grew its stake in Silicon Laboratories by 0.7% in the fourth quarter. Raymond James & Associates now owns 79,620 shares of the semiconductor company’s stock valued at $10,531,000 after purchasing an additional 574 shares during the last quarter. Pacer Advisors Inc. grew its stake in shares of Silicon Laboratories by 81.1% during the fourth quarter. Pacer Advisors Inc. now owns 4,769 shares of the semiconductor company’s stock worth $631,000 after acquiring an additional 2,135 shares during the last quarter. International Assets Investment Management LLC grew its stake in shares of Silicon Laboratories by 429.1% during the fourth quarter. International Assets Investment Management LLC now owns 926 shares of the semiconductor company’s stock worth $122,000 after acquiring an additional 751 shares during the last quarter. Schwartz Investment Counsel Inc. grew its stake in shares of Silicon Laboratories by 69.6% during the fourth quarter. Schwartz Investment Counsel Inc. now owns 195,000 shares of the semiconductor company’s stock worth $25,793,000 after acquiring an additional 80,000 shares during the last quarter. Finally, Moody Aldrich Partners LLC grew its stake in shares of Silicon Laboratories by 29.4% during the fourth quarter. Moody Aldrich Partners LLC now owns 17,981 shares of the semiconductor company’s stock worth $2,378,000 after acquiring an additional 4,086 shares during the last quarter.

Insider Transactions at Silicon Laboratories

In other news, CEO Robert Matthew Johnson sold 7,230 shares of the company’s stock in a transaction that occurred on Monday, June 3rd. The stock was sold at an average price of $123.80, for a total transaction of $895,074.00. Following the completion of the transaction, the chief executive officer now directly owns 47,910 shares of the company’s stock, valued at approximately $5,931,258. The sale was disclosed in a filing with the SEC, which is available at this link. Corporate insiders own 1.72% of the company’s stock.

Silicon Laboratories Trading Down 2.4 %

Silicon Laboratories stock traded down $2.93 during mid-day trading on Tuesday, hitting $116.89. The company had a trading volume of 102,629 shares, compared to its average volume of 315,401. Silicon Laboratories Inc. has a 12-month low of $74.56 and a 12-month high of $154.91. The company’s fifty day moving average is $118.26 and its 200-day moving average is $126.52. The company has a market capitalization of $3.77 billion, a price-to-earnings ratio of -36.20 and a beta of 1.20.

Silicon Laboratories (NASDAQ:SLAB) last released its quarterly earnings data on Wednesday, July 24th. The semiconductor company reported ($0.56) EPS for the quarter, topping the consensus estimate of ($0.64) by $0.08. The business had revenue of $145.40 million for the quarter, compared to analyst estimates of $140.18 million. Silicon Laboratories had a negative return on equity of 9.13% and a negative net margin of 36.53%. The business’s quarterly revenue was down 40.6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.59 EPS. As a group, sell-side analysts expect that Silicon Laboratories Inc. will post -3.21 EPS for the current fiscal year.

Analysts Set New Price Targets

SLAB has been the topic of a number of research analyst reports. JPMorgan Chase & Co. dropped their price target on Silicon Laboratories from $165.00 to $150.00 and set an “overweight” rating on the stock in a research note on Thursday, April 25th. TD Cowen dropped their price target on Silicon Laboratories from $155.00 to $145.00 and set a “buy” rating on the stock in a research note on Thursday, April 25th. StockNews.com upgraded Silicon Laboratories to a “sell” rating in a research note on Tuesday, July 23rd. Benchmark restated a “hold” rating on shares of Silicon Laboratories in a research note on Thursday, April 25th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $150.00 target price on shares of Silicon Laboratories in a research report on Thursday, July 25th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $135.00.

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.