Envestnet Portfolio Solutions Inc. Boosts Holdings in Silicon Laboratories Inc. (NASDAQ:SLAB)

Envestnet Portfolio Solutions Inc. increased its position in Silicon Laboratories Inc. (NASDAQ:SLAB) by 3.4% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 9,462 shares of the semiconductor company’s stock after purchasing an additional 314 shares during the quarter. Envestnet Portfolio Solutions Inc.’s holdings in Silicon Laboratories were worth $1,175,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also added to or reduced their stakes in the company. Raymond James Financial Inc. acquired a new position in Silicon Laboratories in the 4th quarter worth $14,252,000. Arizona State Retirement System lifted its stake in shares of 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. boosted its holdings in Silicon Laboratories by 1.9% in the third quarter. Franklin Resources Inc. now owns 231,889 shares of the semiconductor company’s stock valued at $27,001,000 after purchasing an additional 4,278 shares during the last quarter. Point72 Asset Management L.P. acquired a new stake in Silicon Laboratories during the 3rd quarter valued at approximately $7,408,000. Finally, Intech Investment Management LLC increased its holdings in Silicon Laboratories by 82.9% during 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 during the last quarter.

Insider Activity at Silicon Laboratories

In related news, Director Navdeep S. Sooch sold 2,360 shares of the firm’s stock in a transaction that occurred 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 position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director William G. Bock sold 1,000 shares of the business’s stock in a transaction on 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 owns 31,115 shares of the company’s stock, valued at $4,649,514.45. This trade 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 worth $782,610 in the last ninety days. 1.72% of the stock is owned by insiders.

Silicon Laboratories Trading Down 1.0 %

NASDAQ:SLAB opened at $123.57 on Friday. The firm has a market capitalization of $4.01 billion, a PE ratio of -20.80 and a beta of 1.15. Silicon Laboratories Inc. has a 52 week low of $94.00 and a 52 week high of $160.00. The stock has a 50 day moving average of $138.03 and a 200-day moving average of $123.17.

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

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on SLAB shares. Susquehanna initiated 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 for the company. KeyCorp raised their price objective on shares of Silicon Laboratories from $115.00 to $160.00 and gave the stock an “overweight” rating in a report on Wednesday, January 22nd. Needham & Company LLC reissued a “buy” rating and issued a $150.00 target price on shares of Silicon Laboratories in a research report on Wednesday, March 12th. StockNews.com raised shares of Silicon Laboratories from a “sell” rating to a “hold” rating in a research report on Tuesday, March 18th. Finally, Benchmark reissued a “buy” rating and issued a $160.00 price objective on shares of Silicon Laboratories in a report on Wednesday, March 12th. Six equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $136.20.

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.