Thrivent Financial for Lutherans Raises Holdings in Silicon Laboratories Inc. (NASDAQ:SLAB)

Thrivent Financial for Lutherans increased its position in Silicon Laboratories Inc. (NASDAQ:SLAB) by 17.5% in the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 154,593 shares of the semiconductor company’s stock after acquiring an additional 23,045 shares during the quarter. Thrivent Financial for Lutherans’ holdings in Silicon Laboratories were worth $19,204,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in SLAB. Wellington Management Group LLP boosted its holdings in shares of Silicon Laboratories by 28.3% in the third quarter. Wellington Management Group LLP now owns 888,382 shares of the semiconductor company’s stock worth $102,670,000 after acquiring an additional 195,997 shares during the period. Raymond James Financial Inc. bought a new position in Silicon Laboratories in the 4th quarter worth about $14,252,000. Point72 Asset Management L.P. purchased a new position in Silicon Laboratories during the 3rd quarter valued at about $7,408,000. Fisher Asset Management LLC increased its position in shares of Silicon Laboratories by 114.4% during the fourth quarter. Fisher Asset Management LLC now owns 119,292 shares of the semiconductor company’s stock valued at $14,818,000 after buying an additional 63,652 shares during the period. Finally, FMR LLC lifted its holdings in shares of Silicon Laboratories by 1.1% in the third quarter. FMR LLC now owns 4,843,370 shares of the semiconductor company’s stock worth $559,748,000 after buying an additional 54,708 shares in the last quarter.

Insider Buying and Selling at Silicon Laboratories

In related news, Director William G. Bock sold 2,000 shares of the stock in a transaction that occurred on Wednesday, January 22nd. The shares were sold at an average price of $140.77, for a total value of $281,540.00. Following the completion of the sale, the director now directly owns 32,115 shares of the company’s stock, valued at approximately $4,520,828.55. This represents a 5.86 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Navdeep S. Sooch sold 2,360 shares of Silicon Laboratories stock in a transaction that occurred 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 transaction, the director now directly owns 400,567 shares in the company, valued at $59,684,483. This represents a 0.59 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 5,360 shares of company stock valued at $782,610. Company insiders own 1.72% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on SLAB. Barclays upped their price target on shares of Silicon Laboratories from $75.00 to $120.00 and gave the stock an “equal weight” rating in a report on Friday, January 17th. StockNews.com upgraded shares of Silicon Laboratories from a “sell” rating to a “hold” rating in a research report on Tuesday. Needham & Company LLC reiterated a “buy” rating and issued a $150.00 price objective on shares of Silicon Laboratories in a report on Wednesday, March 12th. Benchmark restated a “buy” rating and issued a $160.00 price objective on shares of Silicon Laboratories in a report on Wednesday, March 12th. Finally, Susquehanna initiated coverage on Silicon Laboratories in a research note on Tuesday, December 17th. They issued a “neutral” rating and a $130.00 price target for the company. Six analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $136.20.

Silicon Laboratories Stock Down 1.0 %

NASDAQ SLAB opened at $123.57 on Friday. The company has a 50-day moving average price of $138.03 and a 200-day moving average price of $123.05. Silicon Laboratories Inc. has a 52 week low of $94.00 and a 52 week high of $160.00. The firm has a market capitalization of $4.01 billion, a P/E ratio of -20.80 and a beta of 1.15.

Silicon Laboratories (NASDAQ:SLAB) last released its quarterly earnings results on Tuesday, February 4th. The semiconductor company reported ($0.11) earnings per share 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 business had revenue of $166.25 million for the quarter, compared to the consensus estimate of $166.09 million. During the same period last year, the firm earned ($1.19) earnings per share. The company’s quarterly revenue was up 91.4% on a year-over-year basis. As a group, equities research analysts anticipate that Silicon Laboratories Inc. will post -0.97 EPS for the current year.

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.