Silicon Laboratories, Inc. $SLAB Shares Purchased by EFG Asset Management North America Corp.

EFG Asset Management North America Corp. lifted its holdings in Silicon Laboratories, Inc. (NASDAQ:SLAB) by 4.3% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 23,784 shares of the semiconductor company’s stock after acquiring an additional 986 shares during the quarter. EFG Asset Management North America Corp. owned 0.07% of Silicon Laboratories worth $3,502,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. Westfield Capital Management Co. LP acquired a new stake in Silicon Laboratories during the first quarter valued at $37,249,000. Nuveen LLC acquired a new stake in Silicon Laboratories during the first quarter valued at $32,338,000. Adage Capital Partners GP L.L.C. grew its position in Silicon Laboratories by 116.7% during the first quarter. Adage Capital Partners GP L.L.C. now owns 525,022 shares of the semiconductor company’s stock valued at $59,102,000 after buying an additional 282,785 shares during the period. Invesco Ltd. grew its position in Silicon Laboratories by 42.7% during the first quarter. Invesco Ltd. now owns 849,730 shares of the semiconductor company’s stock valued at $95,654,000 after buying an additional 254,348 shares during the period. Finally, Mackenzie Financial Corp lifted its holdings in Silicon Laboratories by 11,746.2% during the first quarter. Mackenzie Financial Corp now owns 236,924 shares of the semiconductor company’s stock valued at $26,671,000 after purchasing an additional 234,924 shares in the last quarter.

Insider Transactions at Silicon Laboratories

In related news, SVP Brandon Tolany sold 1,800 shares of the firm’s stock in a transaction dated Friday, August 29th. The shares were sold at an average price of $133.57, for a total transaction of $240,426.00. Following the completion of the sale, the senior vice president directly owned 62,328 shares in the company, valued at approximately $8,325,150.96. This trade represents a 2.81% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders have sold 12,070 shares of company stock worth $1,703,472 in the last ninety days. 1.60% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several equities analysts have issued reports on the stock. Stifel Nicolaus increased their price objective on shares of Silicon Laboratories from $144.00 to $160.00 and gave the company a “buy” rating in a report on Friday, July 18th. KeyCorp increased their price objective on shares of Silicon Laboratories from $160.00 to $180.00 and gave the company an “overweight” rating in a report on Tuesday, July 8th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Silicon Laboratories in a report on Wednesday, October 8th. Morgan Stanley decreased their price objective on shares of Silicon Laboratories from $157.00 to $144.00 and set an “equal weight” rating on the stock in a report on Wednesday, August 6th. Finally, Susquehanna increased their price objective on shares of Silicon Laboratories from $110.00 to $150.00 and gave the company a “neutral” rating in a report on Tuesday, July 22nd. Four analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $153.43.

Silicon Laboratories Trading Down 0.9%

NASDAQ:SLAB opened at $126.77 on Wednesday. The company’s 50-day moving average price is $133.57 and its 200-day moving average price is $131.56. The company has a market cap of $4.16 billion, a P/E ratio of -39.37 and a beta of 1.51. Silicon Laboratories, Inc. has a twelve month low of $82.82 and a twelve month high of $160.00.

Silicon Laboratories (NASDAQ:SLAB) last posted its quarterly earnings results on Tuesday, August 5th. The semiconductor company reported $0.11 earnings per share for the quarter, topping the consensus estimate of $0.09 by $0.02. The firm had revenue of $192.85 million for the quarter, compared to the consensus estimate of $192.57 million. Silicon Laboratories had a negative net margin of 14.88% and a negative return on equity of 7.21%. The company’s revenue for the quarter was up 32.6% on a year-over-year basis. During the same period last year, the firm posted ($0.56) earnings per share. On average, analysts expect that Silicon Laboratories, Inc. will post -0.97 earnings per share for the current year.

Silicon Laboratories Company Profile

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.