Connor Clark & Lunn Investment Management Ltd. Grows Position in Silicon Laboratories Inc. (NASDAQ:SLAB)

Connor Clark & Lunn Investment Management Ltd. lifted its position in Silicon Laboratories Inc. (NASDAQ:SLAB) by 317.3% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 9,364 shares of the semiconductor company’s stock after purchasing an additional 7,120 shares during the quarter. Connor Clark & Lunn Investment Management Ltd.’s holdings in Silicon Laboratories were worth $1,163,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of SLAB. Natixis Advisors LLC grew its holdings in shares of Silicon Laboratories by 6.2% in the third quarter. Natixis Advisors LLC now owns 12,050 shares of the semiconductor company’s stock valued at $1,393,000 after purchasing an additional 708 shares during the period. Thrivent Financial for Lutherans grew its holdings in shares of Silicon Laboratories by 10.4% in the third quarter. Thrivent Financial for Lutherans now owns 131,548 shares of the semiconductor company’s stock valued at $15,203,000 after purchasing an additional 12,435 shares during the period. Quest Partners LLC purchased a new stake in shares of Silicon Laboratories in the third quarter valued at about $426,000. Advisors Asset Management Inc. grew its holdings in shares of Silicon Laboratories by 159.4% in the third quarter. Advisors Asset Management Inc. now owns 275 shares of the semiconductor company’s stock valued at $32,000 after purchasing an additional 169 shares during the period. Finally, Intech Investment Management LLC grew its holdings 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 purchasing an additional 5,818 shares during the period.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on the stock. Benchmark reissued a “buy” rating and issued a $160.00 price objective on shares of Silicon Laboratories in a report on Wednesday, March 12th. KeyCorp upped their target price 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 raised shares of Silicon Laboratories from a “sell” rating to a “hold” rating in a research report on Tuesday. 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. Finally, Susquehanna assumed coverage on shares of Silicon Laboratories in a research report on Tuesday, December 17th. They issued a “neutral” rating and a $130.00 target price on the stock. Six research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $136.20.

Insider Activity at Silicon Laboratories

In related news, Director William G. Bock sold 2,000 shares of the firm’s stock in a transaction that occurred on Wednesday, January 22nd. The shares were 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 of the company’s stock, valued at $4,520,828.55. This trade represents a 5.86 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Navdeep S. Sooch sold 2,360 shares of the firm’s stock in a transaction that occurred on Wednesday, February 5th. The shares were 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 in the company, valued at approximately $59,684,483. This trade represents a 0.59 % 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 valued at $782,610 over the last 90 days. 1.72% of the stock is owned by corporate insiders.

Silicon Laboratories Stock Performance

Shares of SLAB opened at $124.79 on Friday. The stock has a market capitalization of $4.05 billion, a PE ratio of -21.01 and a beta of 1.15. Silicon Laboratories Inc. has a 1 year low of $94.00 and a 1 year high of $160.00. The company’s 50-day simple moving average is $138.22 and its 200-day simple moving average is $123.02.

Silicon Laboratories (NASDAQ:SLAB) last issued its earnings results on Tuesday, February 4th. The semiconductor company reported ($0.11) earnings per share for the quarter, meeting the consensus estimate of ($0.11). The firm had revenue of $166.25 million for the quarter, compared to analysts’ expectations of $166.09 million. Silicon Laboratories had a negative net margin of 32.69% and a negative return on equity of 10.46%. The firm’s revenue was up 91.4% compared to the same quarter last year. During the same quarter last year, the company earned ($1.19) earnings per share. On average, sell-side analysts predict 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.