Oppenheimer Asset Management Inc. Has $891,000 Stake in Silicon Laboratories Inc. (NASDAQ:SLAB)

Oppenheimer Asset Management Inc. increased its holdings in Silicon Laboratories Inc. (NASDAQ:SLAB) by 1.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 7,169 shares of the semiconductor company’s stock after buying an additional 102 shares during the period. Oppenheimer Asset Management Inc.’s holdings in Silicon Laboratories were worth $891,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Franklin Resources Inc. raised its position in shares of 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 buying an additional 4,278 shares in the last quarter. Point72 Asset Management L.P. acquired a new stake in shares of Silicon Laboratories in the third quarter valued at approximately $7,408,000. Intech Investment Management LLC raised its position in shares of Silicon Laboratories by 82.9% in the third quarter. Intech Investment Management LLC now owns 12,837 shares of the semiconductor company’s stock valued at $1,484,000 after buying an additional 5,818 shares in the last quarter. Barclays PLC raised its position in shares of Silicon Laboratories by 23.4% in the third quarter. Barclays PLC now owns 70,568 shares of the semiconductor company’s stock valued at $8,157,000 after buying an additional 13,363 shares in the last quarter. Finally, Premier Fund Managers Ltd acquired a new stake in shares of Silicon Laboratories in the third quarter valued at approximately $934,000.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the stock. KeyCorp lifted their price target on shares of Silicon Laboratories from $115.00 to $160.00 and gave the company an “overweight” rating in a research report on Wednesday, January 22nd. StockNews.com cut shares of Silicon Laboratories from a “hold” rating to a “sell” rating in a research note on Friday, February 28th. Needham & Company LLC lifted their price objective on shares of Silicon Laboratories from $140.00 to $150.00 and gave the company a “buy” rating in a research note on Wednesday, February 5th. Morgan Stanley decreased their price objective on shares of Silicon Laboratories from $123.00 to $97.00 and set an “equal weight” rating on the stock in a research note on Tuesday, November 5th. Finally, JPMorgan Chase & Co. decreased their price objective on shares of Silicon Laboratories from $150.00 to $135.00 and set an “overweight” rating on the stock in a research note on Tuesday, November 5th. One investment 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 data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $136.20.

Silicon Laboratories Price Performance

Shares of Silicon Laboratories stock opened at $133.96 on Wednesday. Silicon Laboratories Inc. has a twelve month low of $94.00 and a twelve month high of $160.00. The stock has a market cap of $4.35 billion, a price-to-earnings ratio of -22.55 and a beta of 1.16. The company’s fifty day moving average is $138.05 and its 200 day moving average is $122.01.

Silicon Laboratories (NASDAQ:SLAB) last issued its quarterly earnings data 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 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 analysts’ expectations of $166.09 million. During the same quarter in the previous year, the firm posted ($1.19) earnings per share. Silicon Laboratories’s revenue for the quarter was up 91.4% on a year-over-year basis. As a group, equities analysts anticipate that Silicon Laboratories Inc. will post -0.97 earnings per share for the current fiscal year.

Insider Activity at Silicon Laboratories

In related news, Director Navdeep S. Sooch sold 2,360 shares of the business’s stock in a transaction on Wednesday, February 5th. The shares were sold at an average price of $149.00, for a total value of $351,640.00. Following the transaction, the director now owns 400,567 shares in the company, valued at $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 Securities & Exchange Commission, which is available at this hyperlink. Also, Director William G. Bock sold 1,000 shares of the business’s stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $149.43, for a total transaction of $149,430.00. Following the completion of the transaction, the director now owns 31,115 shares in the company, valued at approximately $4,649,514.45. The trade was 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 over the last quarter. Company insiders own 1.72% of the company’s stock.

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.