Silicon Laboratories, Inc. $SLAB Shares Sold by Envestnet Asset Management Inc.

Envestnet Asset Management Inc. lessened its holdings in Silicon Laboratories, Inc. (NASDAQ:SLAB) by 41.5% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 64,956 shares of the semiconductor company’s stock after selling 46,173 shares during the quarter. Envestnet Asset Management Inc.’s holdings in Silicon Laboratories were worth $9,572,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of SLAB. Quarry LP acquired a new stake in Silicon Laboratories during the 1st quarter worth about $25,000. Skandinaviska Enskilda Banken AB publ acquired a new stake in Silicon Laboratories during the first quarter worth about $34,000. Larson Financial Group LLC purchased a new position in Silicon Laboratories during the first quarter valued at approximately $55,000. Jones Financial Companies Lllp lifted its holdings in Silicon Laboratories by 121.4% in the first quarter. Jones Financial Companies Lllp now owns 496 shares of the semiconductor company’s stock valued at $56,000 after acquiring an additional 272 shares during the period. Finally, Advisors Asset Management Inc. boosted its position in Silicon Laboratories by 38.4% in the 1st quarter. Advisors Asset Management Inc. now owns 631 shares of the semiconductor company’s stock worth $71,000 after purchasing an additional 175 shares in the last quarter.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on SLAB shares. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Silicon Laboratories in a report on Wednesday, October 8th. Stifel Nicolaus lifted their price objective on shares of Silicon Laboratories from $144.00 to $160.00 and gave the company a “buy” rating in a report on Friday, July 18th. Susquehanna upped their price objective on shares of Silicon Laboratories from $110.00 to $150.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 22nd. Morgan Stanley dropped their target price on Silicon Laboratories from $157.00 to $144.00 and set an “equal weight” rating on the stock in a research report on Wednesday, August 6th. Finally, Barclays lifted their price target on Silicon Laboratories from $100.00 to $130.00 and gave the company an “equal weight” rating in a research note on Tuesday, August 5th. Four equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $153.43.

Silicon Laboratories Stock Down 2.9%

Shares of NASDAQ SLAB opened at $126.42 on Monday. The firm has a 50-day simple moving average of $133.07 and a 200-day simple moving average of $132.30. The stock has a market capitalization of $4.15 billion, a price-to-earnings ratio of -39.26 and a beta of 1.55. Silicon Laboratories, Inc. has a 52 week low of $82.82 and a 52 week high of $160.00.

Insider Buying and Selling

In other news, SVP Brandon Tolany sold 8,000 shares of Silicon Laboratories stock in a transaction that occurred on Friday, August 22nd. The shares were sold at an average price of $145.23, for a total transaction of $1,161,840.00. Following the sale, the senior vice president owned 62,328 shares of the company’s stock, valued at approximately $9,051,895.44. The trade was a 11.38% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders have sold 12,070 shares of company stock worth $1,703,472 over the last quarter. 1.60% of the stock is owned by insiders.

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.