Connor Clark & Lunn Investment Management Ltd. Increases Stock Holdings in Silicon Laboratories Inc. (NASDAQ:SLAB)

Connor Clark & Lunn Investment Management Ltd. raised its stake in Silicon Laboratories Inc. (NASDAQ:SLAB) by 317.3% during the 4th quarter, HoldingsChannel.com reports. The firm owned 9,364 shares of the semiconductor company’s stock after acquiring an additional 7,120 shares during the period. Connor Clark & Lunn Investment Management Ltd.’s holdings in Silicon Laboratories were worth $1,163,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Jones Financial Companies Lllp increased its holdings in shares of Silicon Laboratories by 44.5% in the 4th quarter. Jones Financial Companies Lllp now owns 224 shares of the semiconductor company’s stock valued at $28,000 after acquiring an additional 69 shares during the period. Advisors Asset Management Inc. increased its holdings in shares of Silicon Laboratories by 159.4% in the 3rd quarter. Advisors Asset Management Inc. now owns 275 shares of the semiconductor company’s stock valued at $32,000 after acquiring an additional 169 shares during the period. Venturi Wealth Management LLC increased its holdings in shares of Silicon Laboratories by 207.0% in the 4th quarter. Venturi Wealth Management LLC now owns 786 shares of the semiconductor company’s stock valued at $98,000 after acquiring an additional 530 shares during the period. Asset Management One Co. Ltd. acquired a new position in shares of Silicon Laboratories in the 4th quarter valued at $117,000. Finally, KBC Group NV increased its holdings in shares of Silicon Laboratories by 42.1% in the 4th quarter. KBC Group NV now owns 1,279 shares of the semiconductor company’s stock valued at $159,000 after acquiring an additional 379 shares during the period.

Insider Buying and Selling

In related news, Director Navdeep S. Sooch sold 2,360 shares of the business’s stock in a transaction dated Wednesday, February 5th. The shares were 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. The trade was a 0.59 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director William G. Bock sold 2,000 shares of the business’s stock in a transaction dated Wednesday, January 22nd. The stock was sold at an average price of $140.77, for a total transaction of $281,540.00. Following the completion of the sale, the director now owns 32,115 shares in the company, valued at $4,520,828.55. This represents a 5.86 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 5,360 shares of company stock worth $782,610 in the last three months. Corporate insiders own 1.72% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the stock. Needham & Company LLC reaffirmed a “buy” rating and issued a $150.00 target price on shares of Silicon Laboratories in a report on Wednesday, March 12th. Susquehanna assumed coverage on shares of Silicon Laboratories in a research note on Tuesday, December 17th. They issued a “neutral” rating and a $130.00 price objective on the stock. KeyCorp boosted their price objective 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. StockNews.com raised shares of Silicon Laboratories from a “sell” rating to a “hold” rating in a research note on Tuesday. Finally, Stifel Nicolaus boosted their price objective on shares of Silicon Laboratories from $135.00 to $145.00 and gave the company a “buy” rating in a research note on Monday, January 6th. Six analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, Silicon Laboratories presently has an average rating of “Moderate Buy” and an average target price of $136.20.

Silicon Laboratories Stock Performance

Shares of NASDAQ SLAB opened at $124.79 on Friday. The firm has a market capitalization of $4.05 billion, a P/E ratio of -21.01 and a beta of 1.15. Silicon Laboratories Inc. has a one year low of $94.00 and a one year high of $160.00. The company’s fifty day moving average is $138.22 and its two-hundred day moving average is $123.02.

Silicon Laboratories (NASDAQ:SLAB) last issued its earnings results on Tuesday, February 4th. The semiconductor company reported ($0.11) EPS 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 company had revenue of $166.25 million for the quarter, compared to analyst estimates of $166.09 million. During the same period in the previous year, the firm earned ($1.19) EPS. The business’s revenue was up 91.4% on a year-over-year basis. On average, sell-side analysts forecast that Silicon Laboratories Inc. will post -0.97 earnings per share for the current fiscal 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.