Tower Research Capital LLC TRC Boosts Holdings in Silicon Laboratories Inc. (NASDAQ:SLAB)

Tower Research Capital LLC TRC grew its stake in shares of Silicon Laboratories Inc. (NASDAQ:SLAB) by 23.8% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,505 shares of the semiconductor company’s stock after buying an additional 481 shares during the period. Tower Research Capital LLC TRC’s holdings in Silicon Laboratories were worth $311,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently modified their holdings of the stock. Raymond James Financial Inc. bought a new stake in Silicon Laboratories in the 4th quarter worth approximately $14,252,000. Arizona State Retirement System raised its stake in Silicon Laboratories by 1.8% during the fourth quarter. Arizona State Retirement System now owns 9,360 shares of the semiconductor company’s stock valued at $1,163,000 after purchasing an additional 167 shares in the last quarter. Franklin Resources Inc. lifted its position in Silicon Laboratories by 1.9% during the third quarter. Franklin Resources Inc. now owns 231,889 shares of the semiconductor company’s stock valued at $27,001,000 after purchasing an additional 4,278 shares during the last quarter. Barclays PLC grew its stake in shares of Silicon Laboratories by 23.4% in the 3rd quarter. Barclays PLC now owns 70,568 shares of the semiconductor company’s stock worth $8,157,000 after buying an additional 13,363 shares in the last quarter. Finally, Arkadios Wealth Advisors bought a new stake in shares of Silicon Laboratories in the 4th quarter worth about $237,000.

Analyst Ratings Changes

SLAB has been the subject of several recent research reports. KeyCorp lifted their price target on Silicon Laboratories from $115.00 to $160.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 22nd. Benchmark reaffirmed a “buy” rating and set a $160.00 price objective on shares of Silicon Laboratories in a research note on Wednesday, March 12th. Needham & Company LLC reissued a “buy” rating and issued a $150.00 target price on shares of Silicon Laboratories in a research note on Wednesday, March 12th. Barclays dropped their price target on shares of Silicon Laboratories from $120.00 to $80.00 and set an “equal weight” rating for the company in a research note on Tuesday, April 22nd. Finally, Stifel Nicolaus reduced their price objective on shares of Silicon Laboratories from $145.00 to $120.00 and set a “buy” rating on the stock in a research report on Thursday, April 17th. One analyst has rated the stock with a sell rating, three have issued a hold rating and five have given a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $129.00.

Silicon Laboratories Price Performance

Silicon Laboratories stock opened at $107.26 on Friday. The stock has a market cap of $3.48 billion, a price-to-earnings ratio of -18.06 and a beta of 1.33. The firm has a 50-day moving average of $111.68 and a two-hundred day moving average of $120.59. Silicon Laboratories Inc. has a 1 year low of $82.82 and a 1 year high of $160.00.

Silicon Laboratories (NASDAQ:SLAB) last announced its quarterly earnings data on Tuesday, February 4th. The semiconductor company reported ($0.11) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.11). The company had revenue of $166.25 million for 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 revenue was up 91.4% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($1.19) earnings per share. Research analysts expect that Silicon Laboratories Inc. will post -0.97 earnings per share for the current year.

Insider Activity

In other Silicon Laboratories news, Director Navdeep S. Sooch sold 2,360 shares of the firm’s stock in a transaction dated Wednesday, February 5th. The shares were sold at an average price of $149.00, for a total transaction of $351,640.00. Following the transaction, the director now owns 400,567 shares of the company’s stock, valued at approximately $59,684,483. This trade represents a 0.59 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director William G. Bock sold 1,000 shares of the company’s stock in a transaction that occurred on 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 directly owns 31,115 shares of the company’s stock, valued at $4,649,514.45. The trade was a 3.11 % decrease in their position. The disclosure for this sale can be found here. Insiders own 1.60% of the company’s stock.

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.