Zurcher Kantonalbank Zurich Cantonalbank Grows Stock Position in Silicon Laboratories Inc. (NASDAQ:SLAB)

Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of Silicon Laboratories Inc. (NASDAQ:SLAB) by 8.8% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 8,453 shares of the semiconductor company’s stock after purchasing an additional 686 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Silicon Laboratories were worth $1,050,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently added to or reduced their stakes in SLAB. Raymond James Financial Inc. purchased a new stake in shares of Silicon Laboratories during the fourth quarter worth $14,252,000. Arizona State Retirement System boosted its position in Silicon Laboratories by 1.8% during 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 during the last quarter. Franklin Resources Inc. grew its stake in Silicon Laboratories by 1.9% during the 3rd quarter. Franklin Resources Inc. now owns 231,889 shares of the semiconductor company’s stock valued at $27,001,000 after acquiring an additional 4,278 shares in the last quarter. Point72 Asset Management L.P. acquired a new stake in Silicon Laboratories in the 3rd quarter valued at about $7,408,000. Finally, Intech Investment Management LLC lifted its stake in Silicon Laboratories by 82.9% in the 3rd quarter. Intech Investment Management LLC now owns 12,837 shares of the semiconductor company’s stock worth $1,484,000 after purchasing an additional 5,818 shares in the last quarter.

Insider Buying and Selling

In other Silicon Laboratories news, Director William G. Bock sold 1,000 shares of the business’s stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $149.43, for a total transaction of $149,430.00. Following the sale, the director now directly owns 31,115 shares in the company, valued at $4,649,514.45. This represents a 3.11 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Navdeep S. Sooch sold 2,360 shares of the stock in a transaction dated Wednesday, February 5th. The stock was sold at an average price of $149.00, for a total transaction of $351,640.00. Following the sale, 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. In the last 90 days, insiders have sold 5,360 shares of company stock valued at $782,610. Corporate insiders own 1.72% of the company’s stock.

Silicon Laboratories Stock Performance

Silicon Laboratories stock opened at $125.77 on Thursday. The company has a market capitalization of $4.08 billion, a price-to-earnings ratio of -21.17 and a beta of 1.15. The company’s 50 day simple moving average is $138.29 and its 200-day simple moving average is $123.00. Silicon Laboratories Inc. has a 1 year low of $94.00 and a 1 year high of $160.00.

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

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on SLAB shares. Stifel Nicolaus upped their price target on Silicon Laboratories from $135.00 to $145.00 and gave the company a “buy” rating in a research report on Monday, January 6th. Barclays raised their target price on Silicon Laboratories from $75.00 to $120.00 and gave the stock an “equal weight” rating in a research note on Friday, January 17th. Susquehanna started coverage on shares of Silicon Laboratories in a research report on Tuesday, December 17th. They set a “neutral” rating and a $130.00 price target on the stock. StockNews.com upgraded shares of Silicon Laboratories from a “sell” rating to a “hold” rating in a research report on Tuesday. Finally, 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. Six equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, Silicon Laboratories has a consensus rating of “Moderate Buy” 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.