Norges Bank Invests $34.62 Million in Silicon Laboratories Inc. (NASDAQ:SLAB)

Norges Bank bought a new stake in Silicon Laboratories Inc. (NASDAQ:SLAB) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 278,713 shares of the semiconductor company’s stock, valued at approximately $34,622,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Jones Financial Companies Lllp lifted its stake 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 acquiring an additional 69 shares during the last quarter. Venturi Wealth Management LLC lifted 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 during the last quarter. Asset Management One Co. Ltd. bought a new position in Silicon Laboratories during the fourth quarter worth about $117,000. KBC Group NV increased 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 buying an additional 379 shares during the last quarter. Finally, Arkadios Wealth Advisors bought a new stake in Silicon Laboratories in the fourth quarter valued at approximately $237,000.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the company. Barclays lifted their target price on Silicon Laboratories from $75.00 to $120.00 and gave the stock an “equal weight” rating in a research note on Friday, January 17th. KeyCorp increased their price objective on shares of Silicon Laboratories from $115.00 to $160.00 and gave the company an “overweight” rating in a research report on Wednesday, January 22nd. StockNews.com downgraded shares of Silicon Laboratories from a “hold” rating to a “sell” rating in a report on Thursday, March 27th. Needham & Company LLC reissued a “buy” rating and issued a $150.00 price target on shares of Silicon Laboratories in a report on Wednesday, March 12th. Finally, Benchmark restated a “buy” rating and set a $160.00 price objective on shares of Silicon Laboratories in a report on Wednesday, March 12th. One research analyst has rated the stock with a sell rating, five have given a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, Silicon Laboratories has an average rating of “Hold” and an average price target of $136.20.

Silicon Laboratories Price Performance

Silicon Laboratories stock opened at $92.08 on Friday. The firm has a market cap of $2.99 billion, a PE ratio of -15.50 and a beta of 1.33. The stock’s fifty day moving average price is $133.58 and its two-hundred day moving average price is $123.56. Silicon Laboratories Inc. has a one year low of $89.05 and a one year high of $160.00.

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 analysts’ consensus estimates of ($0.11). The business had revenue of $166.25 million during 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 quarter in the previous year, the firm earned ($1.19) earnings per share. Sell-side analysts expect that Silicon Laboratories Inc. will post -0.97 earnings per share for the current fiscal year.

Insider Transactions at Silicon Laboratories

In other news, Director William G. Bock sold 2,000 shares of the business’s stock in a transaction on Wednesday, January 22nd. The stock was sold at an average price of $140.77, for a total transaction of $281,540.00. Following the completion of the transaction, the director now owns 32,115 shares of the company’s stock, valued at approximately $4,520,828.55. The trade was a 5.86 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Navdeep S. Sooch sold 2,360 shares of the firm’s stock in a transaction dated Wednesday, February 5th. The shares were 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 directly owns 400,567 shares in the company, valued at $59,684,483. This trade represents a 0.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 5,360 shares of company stock valued at $782,610. Company 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.