American Century Companies Inc. Raises Holdings in Silicon Laboratories Inc. (NASDAQ:SLAB)

American Century Companies Inc. raised its position in Silicon Laboratories Inc. (NASDAQ:SLAB) by 9.2% during the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 343,131 shares of the semiconductor company’s stock after purchasing an additional 28,867 shares during the period. American Century Companies Inc. owned 1.06% of Silicon Laboratories worth $42,624,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Jones Financial Companies Lllp lifted its stake in shares of Silicon Laboratories by 44.5% in the fourth quarter. Jones Financial Companies Lllp now owns 224 shares of the semiconductor company’s stock worth $28,000 after buying an additional 69 shares in the last quarter. Pacer Advisors Inc. lifted its stake in Silicon Laboratories by 1.8% in the 4th quarter. Pacer Advisors Inc. now owns 4,839 shares of the semiconductor company’s stock worth $601,000 after purchasing an additional 87 shares in the last quarter. Louisiana State Employees Retirement System lifted its stake in Silicon Laboratories by 1.1% in the 4th quarter. Louisiana State Employees Retirement System now owns 9,000 shares of the semiconductor company’s stock worth $1,118,000 after purchasing an additional 100 shares in the last quarter. Oppenheimer Asset Management Inc. boosted its holdings in shares of Silicon Laboratories by 1.4% during the 4th quarter. Oppenheimer Asset Management Inc. now owns 7,169 shares of the semiconductor company’s stock worth $891,000 after purchasing an additional 102 shares during the last quarter. Finally, Procyon Advisors LLC increased its holdings in shares of Silicon Laboratories by 4.4% in the fourth quarter. Procyon Advisors LLC now owns 3,176 shares of the semiconductor company’s stock valued at $395,000 after purchasing an additional 133 shares during the last quarter.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on SLAB. Stifel Nicolaus increased their price objective on Silicon Laboratories from $135.00 to $145.00 and gave the stock a “buy” rating in a research report on Monday, January 6th. Benchmark reaffirmed a “buy” rating and set a $160.00 target price on shares of Silicon Laboratories in a research note on Wednesday, March 12th. KeyCorp boosted their price target on shares of Silicon Laboratories from $115.00 to $160.00 and gave the company an “overweight” rating in a research note on Wednesday, January 22nd. Needham & Company LLC reaffirmed a “buy” rating and set a $150.00 price objective on shares of Silicon Laboratories in a research report on Wednesday, March 12th. Finally, 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. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $136.20.

Insiders Place Their Bets

In other Silicon Laboratories news, Director Navdeep S. Sooch sold 2,360 shares of the firm’s stock in a transaction on Wednesday, February 5th. The stock was sold at an average price of $149.00, for a total value of $351,640.00. Following the sale, the director now directly owns 400,567 shares in the company, valued at $59,684,483. This trade represents a 0.59 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director William G. Bock sold 1,000 shares of the company’s 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 transaction, the director now directly owns 31,115 shares of the company’s stock, valued at approximately $4,649,514.45. This represents a 3.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 5,360 shares of company stock worth $782,610 in the last 90 days. Corporate insiders own 1.72% of the company’s stock.

Silicon Laboratories Trading Down 1.5 %

NASDAQ:SLAB opened at $119.57 on Friday. Silicon Laboratories Inc. has a 12-month low of $94.00 and a 12-month high of $160.00. The firm has a market cap of $3.88 billion, a PE ratio of -20.13 and a beta of 1.15. The stock has a fifty day moving average price of $137.08 and a 200 day moving average price of $123.48.

Silicon Laboratories (NASDAQ:SLAB) last announced its quarterly earnings data on Tuesday, February 4th. The semiconductor company reported ($0.11) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.11). Silicon Laboratories had a negative return on equity of 10.46% and a negative net margin of 32.69%. The business had revenue of $166.25 million during the quarter, compared to analysts’ expectations of $166.09 million. During the same quarter last year, the business posted ($1.19) EPS. The business’s quarterly revenue was up 91.4% compared to the same quarter last year. Equities analysts forecast 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.