JPMorgan Chase & Co. Raises Stock Position in Silicon Laboratories Inc. (NASDAQ:SLAB)

JPMorgan Chase & Co. increased its holdings in shares of Silicon Laboratories Inc. (NASDAQ:SLAB) by 50.8% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 159,982 shares of the semiconductor company’s stock after buying an additional 53,890 shares during the period. JPMorgan Chase & Co.’s holdings in Silicon Laboratories were worth $19,873,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Jones Financial Companies Lllp raised 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 valued at $28,000 after acquiring an additional 69 shares in the last quarter. Venturi Wealth Management LLC increased its stake in shares of Silicon Laboratories by 207.0% during the fourth quarter. Venturi Wealth Management LLC now owns 786 shares of the semiconductor company’s stock worth $98,000 after buying an additional 530 shares during the period. Asset Management One Co. Ltd. acquired a new stake in Silicon Laboratories in the fourth quarter valued at approximately $117,000. KBC Group NV lifted its stake in Silicon Laboratories by 42.1% in the fourth quarter. KBC Group NV now owns 1,279 shares of the semiconductor company’s stock worth $159,000 after acquiring an additional 379 shares during the last quarter. Finally, Arkadios Wealth Advisors purchased a new stake in shares of Silicon Laboratories in the 4th quarter valued at approximately $237,000.

Insiders Place Their Bets

In related news, Director Navdeep S. Sooch sold 2,360 shares of the company’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 owns 400,567 shares in the company, valued at $59,684,483. This represents a 0.59 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director William G. Bock sold 2,000 shares of the business’s stock in a transaction on Wednesday, January 22nd. The stock was sold at an average price of $140.77, for a total value of $281,540.00. Following the sale, the director now owns 32,115 shares in the company, valued at approximately $4,520,828.55. The trade was a 5.86 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 5,360 shares of company stock worth $782,610. 1.60% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

SLAB has been the topic of several recent analyst reports. Benchmark reissued a “buy” rating and issued a $160.00 target price on shares of Silicon Laboratories in a report on Wednesday, March 12th. KeyCorp increased 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 issued a $150.00 target price on shares of Silicon Laboratories in a research report on Wednesday, March 12th. Stifel Nicolaus boosted their price target on shares of Silicon Laboratories from $135.00 to $145.00 and gave the company a “buy” rating in a research report on Monday, January 6th. Finally, Barclays boosted their target price on Silicon Laboratories from $75.00 to $120.00 and gave the company an “equal weight” rating in a report on Friday, January 17th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $136.20.

Silicon Laboratories Price Performance

Shares of NASDAQ SLAB opened at $88.19 on Friday. The company has a market cap of $2.86 billion, a PE ratio of -14.85 and a beta of 1.33. Silicon Laboratories Inc. has a 1-year low of $82.82 and a 1-year high of $160.00. The stock has a fifty day moving average price of $128.51 and a 200 day moving average price of $122.63.

Silicon Laboratories (NASDAQ:SLAB) last posted its quarterly 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). Silicon Laboratories had a negative net margin of 32.69% and a negative return on equity of 10.46%. The firm had revenue of $166.25 million during the quarter, compared to analysts’ expectations of $166.09 million. During the same period in the prior year, the company posted ($1.19) earnings per share. The firm’s revenue for the quarter was up 91.4% on a year-over-year basis. Analysts anticipate that Silicon Laboratories Inc. will post -0.97 earnings per share for the current fiscal year.

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.