Silicon Laboratories Inc. (NASDAQ:SLAB) Shares Sold by California Public Employees Retirement System

California Public Employees Retirement System reduced its holdings in Silicon Laboratories Inc. (NASDAQ:SLAB) by 9.9% during the 4th quarter, Holdings Channel reports. The fund owned 47,920 shares of the semiconductor company’s stock after selling 5,289 shares during the period. California Public Employees Retirement System’s holdings in Silicon Laboratories were worth $5,953,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. boosted its holdings in Silicon Laboratories by 1.9% in the fourth quarter. Vanguard Group Inc. now owns 3,959,580 shares of the semiconductor company’s stock valued at $491,859,000 after purchasing an additional 71,942 shares during the last quarter. Wellington Management Group LLP boosted its stake in shares of Silicon Laboratories by 28.3% in the third quarter. Wellington Management Group LLP now owns 888,382 shares of the semiconductor company’s stock worth $102,670,000 after buying an additional 195,997 shares during the last quarter. Geode Capital Management LLC boosted its stake in shares of Silicon Laboratories by 2.1% in the third quarter. Geode Capital Management LLC now owns 781,049 shares of the semiconductor company’s stock worth $90,282,000 after buying an additional 15,728 shares during the last quarter. GW&K Investment Management LLC raised its position in Silicon Laboratories by 5.6% during the fourth quarter. GW&K Investment Management LLC now owns 682,045 shares of the semiconductor company’s stock valued at $84,723,000 after acquiring an additional 36,330 shares in the last quarter. Finally, Loomis Sayles & Co. L P lifted its holdings in Silicon Laboratories by 2.0% in the fourth quarter. Loomis Sayles & Co. L P now owns 469,883 shares of the semiconductor company’s stock valued at $58,368,000 after acquiring an additional 8,992 shares during the period.

Silicon Laboratories Price Performance

Shares of NASDAQ:SLAB opened at $91.19 on Tuesday. Silicon Laboratories Inc. has a 1 year low of $86.51 and a 1 year high of $160.00. The firm has a market capitalization of $2.96 billion, a PE ratio of -15.35 and a beta of 1.33. The business’s 50 day moving average price is $132.76 and its 200-day moving average price is $123.49.

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

Insider Activity at Silicon Laboratories

In other Silicon Laboratories news, Director Navdeep S. Sooch sold 2,360 shares of the business’s stock in a transaction on Wednesday, February 5th. The stock was sold at an average price of $149.00, for a total transaction of $351,640.00. Following the transaction, the director now owns 400,567 shares of the company’s stock, valued at approximately $59,684,483. The trade was a 0.59 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director William G. Bock sold 1,000 shares of the firm’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 completion of the sale, the director now directly owns 31,115 shares of the company’s stock, valued at $4,649,514.45. This trade represents a 3.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 5,360 shares of company stock valued at $782,610. Corporate insiders own 1.60% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the stock. StockNews.com lowered shares of Silicon Laboratories from a “hold” rating to a “sell” rating in a report on Thursday, March 27th. Stifel Nicolaus lifted their price objective on shares of Silicon Laboratories from $135.00 to $145.00 and gave the company a “buy” rating in a report on Monday, January 6th. Benchmark reissued a “buy” rating and set a $160.00 target price on shares of Silicon Laboratories in a research note on Wednesday, March 12th. Needham & Company LLC restated a “buy” rating and issued a $150.00 price target on shares of Silicon Laboratories in a research note on Wednesday, March 12th. Finally, Susquehanna initiated coverage on Silicon Laboratories in a report on Tuesday, December 17th. They issued a “neutral” rating and a $130.00 price target for the company. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target 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.