Van ECK Associates Corp Raises Stock Position in Silicon Laboratories Inc. (NASDAQ:SLAB)

Van ECK Associates Corp grew its holdings in Silicon Laboratories Inc. (NASDAQ:SLAB) by 205.6% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 5,211 shares of the semiconductor company’s stock after buying an additional 3,506 shares during the period. Van ECK Associates Corp’s holdings in Silicon Laboratories were worth $647,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Advisors Asset Management Inc. grew its stake 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 buying an additional 169 shares in the last quarter. International Assets Investment Management LLC grew its stake in shares of Silicon Laboratories by 11,457.1% in the 3rd quarter. International Assets Investment Management LLC now owns 809 shares of the semiconductor company’s stock worth $93,000 after buying an additional 802 shares in the last quarter. KBC Group NV grew its stake in shares of Silicon Laboratories by 42.1% in the 4th quarter. KBC Group NV now owns 1,279 shares of the semiconductor company’s stock worth $159,000 after buying an additional 379 shares in the last quarter. Harbor Capital Advisors Inc. boosted its stake in shares of Silicon Laboratories by 33.7% during the 3rd quarter. Harbor Capital Advisors Inc. now owns 1,727 shares of the semiconductor company’s stock worth $200,000 after purchasing an additional 435 shares during the period. Finally, Glenmede Trust Co. NA purchased a new position in shares of Silicon Laboratories during the 3rd quarter worth about $205,000.

Silicon Laboratories Price Performance

Shares of SLAB opened at $155.33 on Friday. Silicon Laboratories Inc. has a 1-year low of $94.00 and a 1-year high of $160.00. The company has a 50-day moving average of $136.14 and a 200 day moving average of $119.89. The firm has a market capitalization of $5.04 billion, a price-to-earnings ratio of -26.15 and a beta of 1.16.

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

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the stock. 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 research note on Friday, January 17th. JPMorgan Chase & Co. dropped their price target on shares of Silicon Laboratories from $150.00 to $135.00 and set an “overweight” rating for the company in a research note on Tuesday, November 5th. Morgan Stanley dropped their price target on shares of Silicon Laboratories from $123.00 to $97.00 and set an “equal weight” rating for the company in a research note on Tuesday, November 5th. Stifel Nicolaus lifted their price target on shares of Silicon Laboratories from $135.00 to $145.00 and gave the stock a “buy” rating in a research note on Monday, January 6th. Finally, StockNews.com cut shares of Silicon Laboratories from a “hold” rating to a “sell” rating in a research note on Friday, February 14th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, Silicon Laboratories currently has an average rating of “Hold” and an average price target of $136.20.

Insider Activity

In other news, Director William G. Bock sold 2,000 shares of the business’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 completion of 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 position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Navdeep S. Sooch sold 2,360 shares of the business’s stock in a transaction dated Wednesday, February 5th. The shares were sold at an average price of $149.00, for a total transaction of $351,640.00. Following the completion of the sale, the director now owns 400,567 shares of the company’s stock, valued at approximately $59,684,483. This represents a 0.59 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 5,360 shares of company stock worth $782,610. 1.72% of the stock is currently owned by corporate insiders.

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.