EFG Asset Management North America Corp. Grows Stock Holdings in Silicon Laboratories Inc. (NASDAQ:SLAB)

EFG Asset Management North America Corp. lifted its stake in shares of Silicon Laboratories Inc. (NASDAQ:SLAB) by 22.8% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 19,060 shares of the semiconductor company’s stock after purchasing an additional 3,541 shares during the period. EFG Asset Management North America Corp. owned 0.06% of Silicon Laboratories worth $2,366,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Natixis Advisors LLC boosted its stake in Silicon Laboratories by 6.2% during the third quarter. Natixis Advisors LLC now owns 12,050 shares of the semiconductor company’s stock worth $1,393,000 after buying an additional 708 shares during the last quarter. Advisors Asset Management Inc. raised its holdings in shares of Silicon Laboratories by 159.4% during the 3rd quarter. Advisors Asset Management Inc. now owns 275 shares of the semiconductor company’s stock worth $32,000 after acquiring an additional 169 shares during the period. Intech Investment Management LLC boosted its position in shares of Silicon Laboratories by 82.9% during the 3rd quarter. Intech Investment Management LLC now owns 12,837 shares of the semiconductor company’s stock valued at $1,484,000 after acquiring an additional 5,818 shares during the last quarter. Citigroup Inc. grew its stake in shares of Silicon Laboratories by 37.6% in the 3rd quarter. Citigroup Inc. now owns 59,064 shares of the semiconductor company’s stock valued at $6,826,000 after buying an additional 16,134 shares during the period. Finally, Cerity Partners LLC grew its position in Silicon Laboratories by 19.0% in the third quarter. Cerity Partners LLC now owns 14,372 shares of the semiconductor company’s stock worth $1,661,000 after acquiring an additional 2,290 shares during the period.

Silicon Laboratories Stock Performance

Shares of SLAB opened at $123.03 on Wednesday. Silicon Laboratories Inc. has a 1 year low of $94.00 and a 1 year high of $160.00. The stock has a market capitalization of $4.00 billion, a PE ratio of -20.71 and a beta of 1.15. The stock has a 50-day simple moving average of $137.67 and a 200-day simple moving average of $123.52.

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

Insider Transactions at Silicon Laboratories

In other Silicon Laboratories news, Director Navdeep S. Sooch sold 2,360 shares of Silicon Laboratories stock in a transaction dated Wednesday, February 5th. The stock was sold at an average price of $149.00, for a total transaction of $351,640.00. Following the completion of the sale, the director now directly owns 400,567 shares of the company’s stock, valued at $59,684,483. The trade was a 0.59 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director William G. Bock sold 1,000 shares of the company’s stock in a transaction dated 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 directly owns 31,115 shares of the company’s stock, valued at approximately $4,649,514.45. This represents a 3.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 5,360 shares of company stock valued at $782,610. Insiders own 1.72% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the stock. Barclays boosted their price target on shares of Silicon Laboratories from $75.00 to $120.00 and gave the company an “equal weight” rating in a research note on Friday, January 17th. Stifel Nicolaus upped their price target on Silicon Laboratories from $135.00 to $145.00 and gave the stock a “buy” rating in a research note on Monday, January 6th. Needham & Company LLC reaffirmed a “buy” rating and issued a $150.00 price objective on shares of Silicon Laboratories in a research note on Wednesday, March 12th. KeyCorp increased their target price on Silicon Laboratories from $115.00 to $160.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 22nd. Finally, StockNews.com raised Silicon Laboratories from a “sell” rating to a “hold” rating in a research report on Tuesday, March 18th. Six analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, Silicon Laboratories currently has a consensus rating of “Moderate Buy” and a consensus 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.