Silicon Laboratories Inc. (NASDAQ:SLAB) Shares Acquired by American Century Companies Inc.

American Century Companies Inc. increased its position in shares of Silicon Laboratories Inc. (NASDAQ:SLAB) by 9.2% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 343,131 shares of the semiconductor company’s stock after buying an additional 28,867 shares during the quarter. American Century Companies Inc.’s holdings in Silicon Laboratories were worth $42,624,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Jones Financial Companies Lllp increased its holdings in shares of Silicon Laboratories by 44.5% in the 4th 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 period. Pacer Advisors Inc. grew its position in Silicon Laboratories by 1.8% during the 4th quarter. Pacer Advisors Inc. now owns 4,839 shares of the semiconductor company’s stock worth $601,000 after purchasing an additional 87 shares during the last quarter. Louisiana State Employees Retirement System increased its stake in Silicon Laboratories by 1.1% in the fourth quarter. Louisiana State Employees Retirement System now owns 9,000 shares of the semiconductor company’s stock valued at $1,118,000 after purchasing an additional 100 shares during the period. Oppenheimer Asset Management Inc. raised its holdings in shares of Silicon Laboratories by 1.4% in the fourth quarter. Oppenheimer Asset Management Inc. now owns 7,169 shares of the semiconductor company’s stock valued at $891,000 after buying an additional 102 shares during the last quarter. Finally, Procyon Advisors LLC boosted its stake in shares of Silicon Laboratories by 4.4% during the fourth quarter. Procyon Advisors LLC now owns 3,176 shares of the semiconductor company’s stock worth $395,000 after buying an additional 133 shares during the period.

Silicon Laboratories Trading Down 1.5 %

Shares of SLAB opened at $119.57 on Friday. The firm’s 50-day moving average is $137.08 and its two-hundred day moving average is $123.48. Silicon Laboratories Inc. has a twelve month low of $94.00 and a twelve month high of $160.00. The firm has a market capitalization of $3.88 billion, a P/E ratio of -20.13 and a beta of 1.15.

Silicon Laboratories (NASDAQ:SLAB) last released its quarterly earnings data on Tuesday, February 4th. The semiconductor company reported ($0.11) earnings per share for the quarter, meeting the consensus estimate of ($0.11). The firm 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 quarterly revenue was up 91.4% on a year-over-year basis. During the same period last year, the business posted ($1.19) EPS. Analysts predict that Silicon Laboratories Inc. will post -0.97 EPS for the current year.

Wall Street Analysts Forecast Growth

Several analysts have commented on SLAB shares. Barclays upped their price objective on Silicon Laboratories from $75.00 to $120.00 and gave the company an “equal weight” rating in a research note on Friday, January 17th. StockNews.com downgraded Silicon Laboratories from a “hold” rating to a “sell” rating in a report on Thursday. Stifel Nicolaus boosted their price objective on shares of Silicon Laboratories from $135.00 to $145.00 and gave the company a “buy” rating in a research note on Monday, January 6th. Susquehanna assumed coverage on shares of Silicon Laboratories in a research note on Tuesday, December 17th. They issued a “neutral” rating and a $130.00 target price for the company. Finally, Needham & Company LLC reiterated a “buy” rating and set a $150.00 price target on shares of Silicon Laboratories in a research note on Wednesday, March 12th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $136.20.

Insider Activity

In other news, Director Navdeep S. Sooch sold 2,360 shares of the 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 sale, the director now directly owns 400,567 shares in the company, valued at $59,684,483. This represents a 0.59 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director William G. Bock sold 2,000 shares of Silicon Laboratories stock in a transaction that occurred on Wednesday, January 22nd. The stock was sold at an average price of $140.77, for a total value of $281,540.00. Following 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 disclosure for this sale can be found here. Insiders sold a total of 5,360 shares of company stock worth $782,610 over the last 90 days. 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.