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

Raymond James Financial Inc. bought a new stake in shares of Silicon Laboratories Inc. (NASDAQ:SLAB) in the fourth quarter, HoldingsChannel reports. The institutional investor bought 114,735 shares of the semiconductor company’s stock, valued at approximately $14,252,000.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. FMR LLC increased its holdings in shares of Silicon Laboratories by 1.1% in the 3rd quarter. FMR LLC now owns 4,843,370 shares of the semiconductor company’s stock valued at $559,748,000 after acquiring an additional 54,708 shares during the period. Wellington Management Group LLP increased its holdings in shares of Silicon Laboratories by 28.3% in the 3rd quarter. Wellington Management Group LLP now owns 888,382 shares of the semiconductor company’s stock valued at $102,670,000 after acquiring an additional 195,997 shares during the period. Geode Capital Management LLC increased its holdings in shares of Silicon Laboratories by 2.1% in the 3rd quarter. Geode Capital Management LLC now owns 781,049 shares of the semiconductor company’s stock valued at $90,282,000 after acquiring an additional 15,728 shares during the period. GW&K Investment Management LLC grew its stake in Silicon Laboratories by 5.6% during the 4th quarter. GW&K Investment Management LLC now owns 682,045 shares of the semiconductor company’s stock worth $84,723,000 after buying an additional 36,330 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its stake in Silicon Laboratories by 5.3% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 439,796 shares of the semiconductor company’s stock worth $54,631,000 after buying an additional 21,991 shares during the last quarter.

Analysts Set New Price Targets

Several research analysts recently weighed in on SLAB shares. Barclays boosted 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 boosted their target price on Silicon Laboratories from $115.00 to $160.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 22nd. Needham & Company LLC restated a “buy” rating and set a $150.00 target price on shares of Silicon Laboratories in a research note on Wednesday, March 12th. Susquehanna began coverage on Silicon Laboratories in a research note on Tuesday, December 17th. They set a “neutral” rating and a $130.00 target price on the stock. Finally, Benchmark reiterated a “buy” rating and set a $160.00 price target on shares of Silicon Laboratories in a research note on Wednesday, March 12th. Six research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $136.20.

Insider Buying and Selling at Silicon Laboratories

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 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 $4,520,828.55. This represents a 5.86 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Navdeep S. Sooch sold 2,360 shares of the company’s stock in a transaction that occurred on 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 owns 400,567 shares of the company’s stock, 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. Insiders sold 5,360 shares of company stock valued at $782,610 over the last quarter. 1.72% of the stock is currently owned by insiders.

Silicon Laboratories Stock Down 1.1 %

Shares of SLAB stock opened at $125.24 on Wednesday. The stock has a market cap of $4.07 billion, a PE ratio of -21.08 and a beta of 1.15. The business has a 50-day simple moving average of $138.33 and a 200-day simple moving average of $122.98. Silicon Laboratories Inc. has a 52-week low of $94.00 and a 52-week high of $160.00.

Silicon Laboratories (NASDAQ:SLAB) last released its quarterly earnings results on Tuesday, February 4th. The semiconductor company reported ($0.11) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.11). The company had revenue of $166.25 million during the quarter, compared to analysts’ expectations 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 quarterly revenue was up 91.4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($1.19) EPS. Sell-side analysts anticipate that Silicon Laboratories Inc. will post -0.97 earnings per share for the current fiscal year.

Silicon Laboratories Company 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.