Corebridge Financial Inc. Sells 2,655 Shares of Silicon Laboratories Inc. (NASDAQ:SLAB)

Corebridge Financial Inc. reduced its holdings in shares of Silicon Laboratories Inc. (NASDAQ:SLAB) by 4.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 52,427 shares of the semiconductor company’s stock after selling 2,655 shares during the quarter. Corebridge Financial Inc. owned 0.16% of Silicon Laboratories worth $6,512,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently modified their holdings of the business. Jones Financial Companies Lllp raised its position in Silicon Laboratories by 44.5% in the 4th quarter. Jones Financial Companies Lllp now owns 224 shares of the semiconductor company’s stock worth $28,000 after buying an additional 69 shares during the last quarter. Advisors Asset Management Inc. raised its holdings in shares of Silicon Laboratories by 159.4% during the third quarter. Advisors Asset Management Inc. now owns 275 shares of the semiconductor company’s stock valued at $32,000 after purchasing an additional 169 shares during the last quarter. Venturi Wealth Management LLC lifted its position in Silicon Laboratories by 207.0% during the fourth quarter. Venturi Wealth Management LLC now owns 786 shares of the semiconductor company’s stock valued at $98,000 after purchasing an additional 530 shares during the period. Asset Management One Co. Ltd. purchased a new stake in Silicon Laboratories in the fourth quarter worth approximately $117,000. Finally, KBC Group NV grew its position in Silicon Laboratories by 42.1% in the 4th quarter. KBC Group NV now owns 1,279 shares of the semiconductor company’s stock worth $159,000 after purchasing an additional 379 shares during the period.

Silicon Laboratories Price Performance

Shares of SLAB opened at $113.03 on Friday. The firm has a market cap of $3.67 billion, a P/E ratio of -19.03 and a beta of 1.15. Silicon Laboratories Inc. has a 1 year low of $94.00 and a 1 year high of $160.00. The company has a 50 day simple moving average of $136.65 and a two-hundred day simple moving average of $123.53.

Silicon Laboratories (NASDAQ:SLAB) last issued its quarterly earnings data on Tuesday, February 4th. The semiconductor company reported ($0.11) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.11). The firm had revenue of $166.25 million during the quarter, compared to analyst estimates of $166.09 million. Silicon Laboratories had a negative return on equity of 10.46% and a negative net margin of 32.69%. The business’s quarterly revenue was up 91.4% compared to the same quarter last year. During the same quarter last year, the business posted ($1.19) earnings per share. On average, sell-side analysts anticipate that Silicon Laboratories Inc. will post -0.97 earnings per share for the current year.

Insiders Place Their Bets

In other Silicon Laboratories news, Director Navdeep S. Sooch sold 2,360 shares of Silicon Laboratories stock in a transaction on Wednesday, February 5th. The shares were sold at an average price of $149.00, for a total value of $351,640.00. Following the completion of the transaction, the director now directly owns 400,567 shares of the company’s stock, valued at $59,684,483. This trade represents a 0.59 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director William G. Bock sold 1,000 shares of Silicon Laboratories stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $149.43, for a total value 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. This represents a 3.11 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 5,360 shares of company stock valued at $782,610 in the last quarter. 1.72% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the company. Stifel Nicolaus increased their price target on Silicon Laboratories from $135.00 to $145.00 and gave the company a “buy” rating in a report on Monday, January 6th. Susquehanna began coverage on Silicon Laboratories in a research report on Tuesday, December 17th. They issued a “neutral” rating and a $130.00 target price on the stock. Barclays upped 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. Benchmark reissued a “buy” rating and issued a $160.00 price objective on shares of Silicon Laboratories in a report on Wednesday, March 12th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $150.00 target price on shares of Silicon Laboratories in a report on Wednesday, March 12th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $136.20.

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.