Wellington Management Group LLP Sells 5,872 Shares of Silicon Laboratories Inc. (NASDAQ:SLAB)

Wellington Management Group LLP reduced its position in Silicon Laboratories Inc. (NASDAQ:SLAB) by 1.1% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 533,401 shares of the semiconductor company’s stock after selling 5,872 shares during the quarter. Wellington Management Group LLP owned about 1.67% of Silicon Laboratories worth $70,553,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of the stock. Pathstone Holdings LLC bought a new stake in Silicon Laboratories during the fourth quarter valued at approximately $58,205,000. Ranger Investment Management L.P. lifted its position in Silicon Laboratories by 0.5% during the fourth quarter. Ranger Investment Management L.P. now owns 110,428 shares of the semiconductor company’s stock valued at $14,606,000 after purchasing an additional 535 shares during the last quarter. Hel Ved Capital Management Ltd bought a new stake in Silicon Laboratories during the fourth quarter valued at approximately $7,037,000. Capital Research Global Investors lifted its position in Silicon Laboratories by 73.9% during the fourth quarter. Capital Research Global Investors now owns 937,939 shares of the semiconductor company’s stock valued at $124,061,000 after purchasing an additional 398,489 shares during the last quarter. Finally, Premier Fund Managers Ltd lifted its position in Silicon Laboratories by 18.6% during the fourth quarter. Premier Fund Managers Ltd now owns 53,845 shares of the semiconductor company’s stock valued at $7,298,000 after purchasing an additional 8,426 shares during the last quarter.

Wall Street Analysts Forecast Growth

SLAB has been the subject of several research analyst reports. Citigroup dropped their target price on shares of Silicon Laboratories from $137.00 to $120.00 and set a “neutral” rating for the company in a research report on Thursday, April 25th. Needham & Company LLC raised shares of Silicon Laboratories from a “hold” rating to a “buy” rating and set a $150.00 price target on the stock in a research note on Thursday, April 25th. Summit Insights downgraded shares of Silicon Laboratories from a “buy” rating to a “hold” rating in a research note on Wednesday, April 24th. TD Cowen decreased their price target on shares of Silicon Laboratories from $155.00 to $145.00 and set a “buy” rating on the stock in a research note on Thursday, April 25th. Finally, Benchmark reissued a “hold” rating on shares of Silicon Laboratories in a research note on Thursday, April 25th. One research analyst has rated the stock with a sell rating, six have given a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, Silicon Laboratories has an average rating of “Hold” and a consensus price target of $135.00.

Insider Buying and Selling

In related news, CEO Robert Matthew Johnson sold 7,230 shares of Silicon Laboratories stock in a transaction on Monday, June 3rd. The shares were sold at an average price of $123.80, for a total value of $895,074.00. Following the transaction, the chief executive officer now directly owns 47,910 shares of the company’s stock, valued at $5,931,258. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 1.72% of the stock is owned by insiders.

Silicon Laboratories Stock Down 1.0 %

Shares of NASDAQ SLAB opened at $112.34 on Friday. Silicon Laboratories Inc. has a 52 week low of $74.56 and a 52 week high of $166.94. The firm’s fifty day moving average is $122.91 and its 200 day moving average is $128.52. The company has a market cap of $3.59 billion, a price-to-earnings ratio of -33.94 and a beta of 1.23.

Silicon Laboratories (NASDAQ:SLAB) last issued its earnings results on Wednesday, April 24th. The semiconductor company reported ($1.34) EPS for the quarter, missing the consensus estimate of ($1.29) by ($0.05). Silicon Laboratories had a negative return on equity of 4.45% and a negative net margin of 16.36%. The firm had revenue of $106.38 million during the quarter, compared to analysts’ expectations of $104.45 million. Equities research analysts anticipate that Silicon Laboratories Inc. will post -3.1 earnings per share for the current 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.