Invesco Ltd. Has $73.96 Million Position in Silicon Laboratories Inc. (NASDAQ:SLAB)

Invesco Ltd. grew its stake in Silicon Laboratories Inc. (NASDAQ:SLAB) by 46.9% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 595,382 shares of the semiconductor company’s stock after purchasing an additional 190,085 shares during the quarter. Invesco Ltd. owned about 1.83% of Silicon Laboratories worth $73,958,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. FMR LLC raised its holdings in Silicon Laboratories by 0.5% in the fourth quarter. FMR LLC now owns 4,867,203 shares of the semiconductor company’s stock worth $604,604,000 after purchasing an additional 23,833 shares during the period. Vanguard Group Inc. grew its position in shares of Silicon Laboratories by 1.9% in the 4th quarter. Vanguard Group Inc. now owns 3,959,580 shares of the semiconductor company’s stock valued at $491,859,000 after purchasing an additional 71,942 shares during the period. Geode Capital Management LLC raised its holdings in Silicon Laboratories by 2.1% during the 3rd quarter. Geode Capital Management LLC now owns 781,049 shares of the semiconductor company’s stock worth $90,282,000 after buying an additional 15,728 shares during the period. GW&K Investment Management LLC boosted its holdings in shares of Silicon Laboratories by 5.6% in the fourth quarter. GW&K Investment Management LLC now owns 682,045 shares of the semiconductor company’s stock valued at $84,723,000 after buying an additional 36,330 shares during the period. Finally, 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 worth $79,310,000 after acquiring an additional 25,178 shares during the period.

Silicon Laboratories Stock Up 1.6 %

NASDAQ:SLAB opened at $91.30 on Tuesday. Silicon Laboratories Inc. has a 12-month low of $82.82 and a 12-month high of $160.00. The stock’s 50 day moving average price is $126.42 and its two-hundred day moving average price is $122.32. The firm has a market capitalization of $2.96 billion, a price-to-earnings ratio of -15.37 and a beta of 1.33.

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

Wall Street Analysts Forecast Growth

Several analysts have issued reports on SLAB shares. Benchmark reissued a “buy” rating and issued a $160.00 price target on shares of Silicon Laboratories in a research note on Wednesday, March 12th. Stifel Nicolaus upped their price target on Silicon Laboratories from $135.00 to $145.00 and gave the stock a “buy” rating in a research report on Monday, January 6th. Barclays lifted their price objective on shares of Silicon Laboratories from $75.00 to $120.00 and gave the company an “equal weight” rating in a report on Friday, January 17th. Susquehanna started coverage on shares of Silicon Laboratories in a report on Tuesday, December 17th. They set a “neutral” rating and a $130.00 target price for the company. Finally, KeyCorp lifted their price target on shares of Silicon Laboratories from $115.00 to $160.00 and gave the company an “overweight” rating in a research note on Wednesday, January 22nd. One research analyst has rated the stock with a sell rating, five have given a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $136.20.

Insiders Place Their Bets

In related news, Director Navdeep S. Sooch sold 2,360 shares of the company’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 transaction, the director now directly owns 400,567 shares in the company, valued at approximately $59,684,483. This represents a 0.59 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director William G. Bock sold 1,000 shares of Silicon Laboratories stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $149.43, for a total transaction of $149,430.00. Following the completion of the sale, the director now owns 31,115 shares of the company’s stock, valued at $4,649,514.45. This trade represents a 3.11 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 5,360 shares of company stock worth $782,610 over the last three months. 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.