Stifel Financial Corp Sells 47,420 Shares of Silicon Laboratories Inc. (NASDAQ:SLAB)

Stifel Financial Corp lessened its holdings in shares of Silicon Laboratories Inc. (NASDAQ:SLAB) by 45.3% in the fourth quarter, Holdings Channel.com reports. The firm owned 57,166 shares of the semiconductor company’s stock after selling 47,420 shares during the period. Stifel Financial Corp’s holdings in Silicon Laboratories were worth $7,101,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in SLAB. Capital Research Global Investors boosted its position in Silicon Laboratories by 23.3% during the fourth quarter. Capital Research Global Investors now owns 2,131,920 shares of the semiconductor company’s stock worth $264,827,000 after purchasing an additional 403,010 shares during the period. Norges Bank bought a new position in shares of Silicon Laboratories in the fourth quarter valued at approximately $34,622,000. Invesco Ltd. boosted its position in shares of Silicon Laboratories by 46.9% in 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 period. Raymond James Financial Inc. bought a new position in shares of Silicon Laboratories in the fourth quarter valued at approximately $14,252,000. Finally, Alliancebernstein L.P. boosted its position in shares of Silicon Laboratories by 58.2% in the fourth quarter. Alliancebernstein L.P. now owns 240,321 shares of the semiconductor company’s stock valued at $29,853,000 after acquiring an additional 88,438 shares during the period.

Insider Activity at Silicon Laboratories

In related news, Director William G. Bock sold 1,000 shares of Silicon Laboratories stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $149.43, for a total value of $149,430.00. Following the sale, the director now owns 31,115 shares in the company, valued at $4,649,514.45. The trade was a 3.11 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Navdeep S. Sooch sold 2,360 shares of Silicon Laboratories 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 completion of the sale, the director now owns 400,567 shares in the company, valued at approximately $59,684,483. This trade represents a 0.59 % decrease in their position. The disclosure for this sale can be found here. 1.60% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of equities analysts have recently commented on SLAB shares. Stifel Nicolaus cut their price objective on shares of Silicon Laboratories from $145.00 to $120.00 and set a “buy” rating for the company in a research report on Thursday, April 17th. KeyCorp raised 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. Benchmark restated a “buy” rating and issued a $160.00 price objective on shares of Silicon Laboratories in a research report on Wednesday, March 12th. Barclays cut their price objective on shares of Silicon Laboratories from $120.00 to $80.00 and set an “equal weight” rating for the company in a research report on Tuesday, April 22nd. Finally, StockNews.com downgraded shares of Silicon Laboratories from a “hold” rating to a “sell” rating in a research note on Thursday, March 27th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, Silicon Laboratories currently has a consensus rating of “Hold” and an average target price of $129.00.

Silicon Laboratories Stock Down 0.1 %

Shares of NASDAQ SLAB opened at $102.62 on Tuesday. Silicon Laboratories Inc. has a 52 week low of $82.82 and a 52 week high of $160.00. The firm’s fifty day moving average is $115.59 and its 200 day moving average is $120.99. The company has a market cap of $3.33 billion, a price-to-earnings ratio of -17.28 and a beta of 1.33.

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

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.