Arizona State Retirement System Has $1.16 Million Stock Position in Silicon Laboratories Inc. (NASDAQ:SLAB)

Arizona State Retirement System grew its position in Silicon Laboratories Inc. (NASDAQ:SLAB) by 1.8% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 9,360 shares of the semiconductor company’s stock after buying an additional 167 shares during the period. Arizona State Retirement System’s holdings in Silicon Laboratories were worth $1,163,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Jones Financial Companies Lllp increased its stake in shares of Silicon Laboratories by 44.5% in the 4th quarter. Jones Financial Companies Lllp now owns 224 shares of the semiconductor company’s stock valued at $28,000 after buying an additional 69 shares during the period. Pacer Advisors Inc. increased its stake in shares of Silicon Laboratories by 1.8% in the 4th quarter. Pacer Advisors Inc. now owns 4,839 shares of the semiconductor company’s stock valued at $601,000 after buying an additional 87 shares during the period. Louisiana State Employees Retirement System increased its stake in shares of Silicon Laboratories by 1.1% in the 4th quarter. Louisiana State Employees Retirement System now owns 9,000 shares of the semiconductor company’s stock valued at $1,118,000 after buying an additional 100 shares during the period. Oppenheimer Asset Management Inc. boosted its position in shares of Silicon Laboratories by 1.4% in the 4th quarter. Oppenheimer Asset Management Inc. now owns 7,169 shares of the semiconductor company’s stock worth $891,000 after purchasing an additional 102 shares during the last quarter. Finally, Procyon Advisors LLC boosted its position in shares of Silicon Laboratories by 4.4% in the 4th quarter. Procyon Advisors LLC now owns 3,176 shares of the semiconductor company’s stock worth $395,000 after purchasing an additional 133 shares during the last quarter.

Analyst Upgrades and Downgrades

SLAB has been the topic of several recent research reports. Benchmark restated a “buy” rating and issued a $160.00 price target on shares of Silicon Laboratories in a research report on Wednesday. Stifel Nicolaus raised their price target on Silicon Laboratories from $135.00 to $145.00 and gave the stock a “buy” rating in a research report on Monday, January 6th. Needham & Company LLC reiterated a “buy” rating and set a $150.00 target price on shares of Silicon Laboratories in a report on Wednesday. StockNews.com lowered Silicon Laboratories from a “hold” rating to a “sell” rating in a report on Friday, February 28th. Finally, Susquehanna initiated coverage on Silicon Laboratories in a report on Tuesday, December 17th. They set a “neutral” rating and a $130.00 target price on the stock. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat.com, Silicon Laboratories has a consensus rating of “Hold” and a consensus target price of $136.20.

Insider Activity at Silicon Laboratories

In other Silicon Laboratories news, Director Navdeep S. Sooch sold 2,360 shares of the company’s stock in a transaction on 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 in the company, valued at $59,684,483. This represents a 0.59 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director William G. Bock sold 1,000 shares of the company’s stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $149.43, for a total value of $149,430.00. Following the sale, the director now owns 31,115 shares of the company’s stock, valued at $4,649,514.45. The trade was a 3.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 5,360 shares of company stock worth $782,610. Company insiders own 1.72% of the company’s stock.

Silicon Laboratories Stock Down 0.6 %

Shares of NASDAQ:SLAB opened at $120.98 on Friday. Silicon Laboratories Inc. has a 12-month low of $94.00 and a 12-month high of $160.00. The stock has a market cap of $3.93 billion, a PE ratio of -20.37 and a beta of 1.15. The business has a 50 day moving average of $138.66 and a 200-day moving average of $122.76.

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, meeting the consensus estimate of ($0.11). The business had revenue of $166.25 million during the quarter, compared to analysts’ expectations of $166.09 million. Silicon Laboratories had a negative return on equity of 10.46% and a negative net margin of 32.69%. The firm’s revenue for the quarter was up 91.4% compared to the same quarter last year. During the same period in the previous year, the company posted ($1.19) earnings per share. Equities research analysts expect that Silicon Laboratories Inc. will post -0.97 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.