Geode Capital Management LLC Acquires 7,921 Shares of Silicon Laboratories, Inc. $SLAB

Geode Capital Management LLC grew its holdings in Silicon Laboratories, Inc. (NASDAQ:SLAB) by 1.0% in the 4th quarter, Holdings Channel reports. The fund owned 824,771 shares of the semiconductor company’s stock after purchasing an additional 7,921 shares during the quarter. Geode Capital Management LLC’s holdings in Silicon Laboratories were worth $107,814,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. EverSource Wealth Advisors LLC grew its holdings in shares of Silicon Laboratories by 45.7% during the third quarter. EverSource Wealth Advisors LLC now owns 274 shares of the semiconductor company’s stock worth $36,000 after buying an additional 86 shares in the last quarter. UMB Bank n.a. grew its holdings in shares of Silicon Laboratories by 43.9% during the third quarter. UMB Bank n.a. now owns 282 shares of the semiconductor company’s stock worth $37,000 after buying an additional 86 shares in the last quarter. Covestor Ltd grew its holdings in shares of Silicon Laboratories by 260.3% during the fourth quarter. Covestor Ltd now owns 281 shares of the semiconductor company’s stock worth $37,000 after buying an additional 203 shares in the last quarter. Hantz Financial Services Inc. grew its holdings in shares of Silicon Laboratories by 189.6% during the third quarter. Hantz Financial Services Inc. now owns 362 shares of the semiconductor company’s stock worth $47,000 after buying an additional 237 shares in the last quarter. Finally, Jones Financial Companies Lllp grew its holdings in shares of Silicon Laboratories by 121.4% during the first quarter. Jones Financial Companies Lllp now owns 496 shares of the semiconductor company’s stock worth $56,000 after buying an additional 272 shares in the last quarter.

Insider Buying and Selling

In related news, CEO Robert Matthew Johnson sold 8,024 shares of the stock in a transaction that occurred on Monday, May 18th. The stock was sold at an average price of $216.83, for a total transaction of $1,739,843.92. Following the completion of the transaction, the chief executive officer directly owned 80,519 shares of the company’s stock, valued at approximately $17,458,934.77. This represents a 9.06% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 1.60% of the company’s stock.

Silicon Laboratories Stock Performance

NASDAQ:SLAB opened at $218.11 on Friday. The company has a market cap of $7.19 billion, a PE ratio of -142.56 and a beta of 1.37. Silicon Laboratories, Inc. has a 52-week low of $115.50 and a 52-week high of $219.68. The stock has a 50-day simple moving average of $214.50 and a 200 day simple moving average of $181.16.

Silicon Laboratories (NASDAQ:SLAB) last posted its quarterly earnings data on Tuesday, May 5th. The semiconductor company reported $0.53 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.49 by $0.04. Silicon Laboratories had a negative return on equity of 2.18% and a negative net margin of 6.13%.The business had revenue of $213.50 million during the quarter, compared to the consensus estimate of $214.02 million. During the same period last year, the company earned ($0.08) earnings per share. Silicon Laboratories’s quarterly revenue was up 20.1% on a year-over-year basis. On average, research analysts predict that Silicon Laboratories, Inc. will post 0.74 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

SLAB has been the subject of a number of research reports. Weiss Ratings reiterated a “sell (d-)” rating on shares of Silicon Laboratories in a report on Friday, March 27th. Citigroup increased their price objective on Silicon Laboratories from $135.00 to $231.00 and gave the stock a “neutral” rating in a report on Friday, February 6th. One equities research analyst has rated the stock with a Buy rating, eight have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, Silicon Laboratories has a consensus rating of “Hold” and a consensus target price of $171.43.

Silicon Laboratories Profile

Silicon Laboratories (NASDAQ:SLAB) is a global semiconductor company that develops high-performance analog and mixed-signal integrated circuits, wireless system-on-chips (SoCs), microcontrollers, and radio frequency (RF) solutions. Its product portfolio is tailored to support the Internet of Things (IoT), infrastructure, industrial automation, consumer electronics, automotive, and energy markets. By combining silicon, software, and tools, Silicon Labs aims to accelerate development cycles and deliver low-power, highly integrated solutions that address demanding application requirements.

Founded in 1996 and headquartered in Austin, Texas, Silicon Labs has grown into a multinational organization with engineering and sales operations across North America, Europe, and Asia.