Raymond James Financial Inc. Acquires Shares of 114,735 Silicon Laboratories Inc. (NASDAQ:SLAB)

Raymond James Financial Inc. bought a new position in Silicon Laboratories Inc. (NASDAQ:SLAB) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 114,735 shares of the semiconductor company’s stock, valued at approximately $14,252,000.

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

Silicon Laboratories Stock Performance

Shares of NASDAQ:SLAB opened at $90.43 on Tuesday. The business has a 50-day simple moving average of $120.78 and a two-hundred day simple moving average of $121.47. The firm has a market cap of $2.94 billion, a price-to-earnings ratio of -15.22 and a beta of 1.33. Silicon Laboratories Inc. has a fifty-two week low of $82.82 and a fifty-two week high of $160.00.

Silicon Laboratories (NASDAQ:SLAB) last posted its earnings results on Tuesday, February 4th. The semiconductor company reported ($0.11) EPS for the quarter, hitting analysts’ consensus estimates 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 the consensus estimate of $166.09 million. During the same quarter in the previous year, the firm posted ($1.19) EPS. The firm’s revenue was up 91.4% on a year-over-year basis. As a group, research analysts predict that Silicon Laboratories Inc. will post -0.97 earnings per share for the current year.

Insider Activity

In other Silicon Laboratories news, Director William G. Bock sold 2,000 shares of the stock in a transaction that occurred on Wednesday, January 22nd. The shares were sold at an average price of $140.77, for a total value of $281,540.00. Following the transaction, the director now directly owns 32,115 shares in the company, valued at approximately $4,520,828.55. This trade represents a 5.86 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Navdeep S. Sooch sold 2,360 shares of the business’s stock in a transaction on Wednesday, February 5th. The shares were sold at an average price of $149.00, for a total transaction of $351,640.00. Following the sale, the director now directly owns 400,567 shares of the company’s stock, valued at approximately $59,684,483. The trade was a 0.59 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 5,360 shares of company stock valued at $782,610 in the last quarter. 1.60% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on SLAB shares. KeyCorp boosted their price target 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. Benchmark reaffirmed a “buy” rating and issued a $160.00 price target on shares of Silicon Laboratories in a research note on Wednesday, March 12th. StockNews.com lowered Silicon Laboratories from a “hold” rating to a “sell” rating in a research report on Thursday, March 27th. Needham & Company LLC reiterated a “buy” rating and issued a $150.00 price target on shares of Silicon Laboratories in a research note on Wednesday, March 12th. Finally, Stifel Nicolaus lowered their target price on shares of Silicon Laboratories from $145.00 to $120.00 and set a “buy” rating for the company in a report on Thursday, April 17th. 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. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $133.70.

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.