Loomis Sayles & Co. L P Raises Stake in Silicon Laboratories Inc. (NASDAQ:SLAB)

Loomis Sayles & Co. L P boosted its holdings in Silicon Laboratories Inc. (NASDAQ:SLAB) by 2.0% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 469,883 shares of the semiconductor company’s stock after purchasing an additional 8,992 shares during the quarter. Loomis Sayles & Co. L P owned about 1.45% of Silicon Laboratories worth $58,368,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Raymond James Financial Inc. bought a new stake in shares of Silicon Laboratories in the 4th quarter worth approximately $14,252,000. Arizona State Retirement System boosted its holdings in Silicon Laboratories by 1.8% in the fourth quarter. Arizona State Retirement System now owns 9,360 shares of the semiconductor company’s stock worth $1,163,000 after acquiring an additional 167 shares in the last quarter. Franklin Resources Inc. grew its stake in shares of Silicon Laboratories by 1.9% in the third quarter. Franklin Resources Inc. now owns 231,889 shares of the semiconductor company’s stock worth $27,001,000 after acquiring an additional 4,278 shares during the last quarter. Point72 Asset Management L.P. bought a new position in shares of Silicon Laboratories during the third quarter valued at $7,408,000. Finally, Barclays PLC raised its position 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 purchasing an additional 13,363 shares during the last quarter.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the stock. StockNews.com upgraded shares of Silicon Laboratories from a “sell” rating to a “hold” rating in a research note on Tuesday, March 18th. Barclays raised their price target on shares of Silicon Laboratories from $75.00 to $120.00 and gave the company an “equal weight” rating in a research report on Friday, January 17th. Needham & Company LLC reaffirmed a “buy” rating and issued a $150.00 price objective on shares of Silicon Laboratories in a research report on Wednesday, March 12th. Susquehanna began coverage on Silicon Laboratories in a report on Tuesday, December 17th. They issued a “neutral” rating and a $130.00 target price for the company. Finally, Benchmark reaffirmed a “buy” rating and set a $160.00 price target on shares of Silicon Laboratories in a report on Wednesday, March 12th. Six analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $136.20.

Silicon Laboratories Stock Down 1.3 %

NASDAQ SLAB opened at $121.37 on Thursday. The company has a 50-day moving average price of $137.34 and a 200-day moving average price of $123.51. 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 $3.94 billion, a P/E ratio of -20.43 and a beta of 1.15.

Silicon Laboratories (NASDAQ:SLAB) last announced its earnings results on Tuesday, February 4th. The semiconductor company reported ($0.11) EPS for the quarter, meeting analysts’ consensus estimates of ($0.11). The business had revenue of $166.25 million during the quarter, compared to analysts’ expectations of $166.09 million. Silicon Laboratories had a negative net margin of 32.69% and a negative return on equity of 10.46%. The firm’s revenue was up 91.4% on a year-over-year basis. During the same period in the prior year, the company earned ($1.19) earnings per share. As a group, equities research analysts anticipate that Silicon Laboratories Inc. will post -0.97 EPS for the current year.

Insider Activity at Silicon Laboratories

In other Silicon Laboratories news, 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 owns 400,567 shares of the company’s stock, valued at $59,684,483. The trade was a 0.59 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 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 transaction, the director now owns 31,115 shares of the company’s stock, valued at approximately $4,649,514.45. The trade was a 3.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 5,360 shares of company stock worth $782,610. Corporate insiders own 1.72% of the company’s stock.

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.