Point72 Asset Management L.P. Sells 1,102 Shares of Silicon Laboratories Inc. (NASDAQ:SLAB)

Point72 Asset Management L.P. reduced its position in Silicon Laboratories Inc. (NASDAQ:SLAB) by 1.7% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 63,001 shares of the semiconductor company’s stock after selling 1,102 shares during the quarter. Point72 Asset Management L.P.’s holdings in Silicon Laboratories were worth $7,826,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in SLAB. Raymond James Financial Inc. bought a new position in shares of Silicon Laboratories during the fourth quarter valued at approximately $14,252,000. Arizona State Retirement System boosted its holdings in Silicon Laboratories by 1.8% during the 4th quarter. Arizona State Retirement System now owns 9,360 shares of the semiconductor company’s stock valued at $1,163,000 after acquiring an additional 167 shares during the period. Barclays PLC boosted its holdings in Silicon Laboratories by 23.4% during the 3rd quarter. Barclays PLC now owns 70,568 shares of the semiconductor company’s stock valued at $8,157,000 after acquiring an additional 13,363 shares during the period. Arkadios Wealth Advisors bought a new position in Silicon Laboratories in the 4th quarter valued at $237,000. Finally, Pacer Advisors Inc. increased its stake in Silicon Laboratories by 1.8% in the fourth 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 period.

Silicon Laboratories Stock Performance

NASDAQ SLAB opened at $131.16 on Monday. Silicon Laboratories Inc. has a one year low of $82.82 and a one year high of $160.00. The company has a market capitalization of $4.27 billion, a price-to-earnings ratio of -22.08 and a beta of 1.36. The company’s 50-day simple moving average is $108.72 and its two-hundred day simple moving average is $121.21.

Silicon Laboratories (NASDAQ:SLAB) last issued its quarterly earnings data on Tuesday, May 13th. The semiconductor company reported ($0.08) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.09) by $0.01. The company had revenue of $177.71 million for the quarter, compared to analyst estimates of $177.48 million. Silicon Laboratories had a negative net margin of 32.69% and a negative return on equity of 10.46%. Silicon Laboratories’s revenue was up 67.0% compared to the same quarter last year. During the same period last year, the company posted ($0.92) earnings per share. Equities analysts expect that Silicon Laboratories Inc. will post -0.97 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

SLAB has been the subject of a number of recent analyst reports. Needham & Company LLC reissued a “buy” rating and set a $150.00 target price on shares of Silicon Laboratories in a research note on Wednesday, May 14th. Stifel Nicolaus decreased their price objective on shares of Silicon Laboratories from $145.00 to $120.00 and set a “buy” rating for the company in a report on Thursday, April 17th. Barclays lowered 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. Susquehanna upped their target price on shares of Silicon Laboratories from $100.00 to $110.00 and gave the stock a “neutral” rating in a research note on Wednesday, May 14th. Finally, StockNews.com raised shares of Silicon Laboratories from a “sell” rating to a “hold” rating in a research note on Wednesday, May 14th. Four equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $126.50.

Insider Activity

In other Silicon Laboratories news, SVP Robert J. Conrad sold 1,172 shares of the business’s stock in a transaction dated Tuesday, May 13th. The shares were sold at an average price of $130.00, for a total value of $152,360.00. Following the completion of the transaction, the senior vice president now directly owns 15,972 shares in the company, valued at approximately $2,076,360. The trade was a 6.84% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director William G. Bock sold 1,000 shares of the firm’s stock in a transaction dated Tuesday, February 18th. The shares were 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 in the company, valued at $4,649,514.45. This represents a 3.11% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 2,718 shares of company stock worth $358,820. 1.60% of the stock is currently owned by company insiders.

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.