Clearbridge Investments LLC Has $21.38 Million Stake in Silicon Laboratories Inc. (NASDAQ:SLAB)

Clearbridge Investments LLC decreased its holdings in Silicon Laboratories Inc. (NASDAQ:SLAB) by 19.0% in the 1st quarter, HoldingsChannel reports. The firm owned 148,754 shares of the semiconductor company’s stock after selling 35,006 shares during the quarter. Clearbridge Investments LLC’s holdings in Silicon Laboratories were worth $21,379,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. GAMMA Investing LLC bought a new position in shares of Silicon Laboratories in the fourth quarter valued at about $36,000. Gladius Capital Management LP increased its position in Silicon Laboratories by 328.7% in the 4th quarter. Gladius Capital Management LP now owns 373 shares of the semiconductor company’s stock valued at $49,000 after acquiring an additional 286 shares in the last quarter. CWM LLC raised its stake in shares of Silicon Laboratories by 78.1% in the fourth quarter. CWM LLC now owns 374 shares of the semiconductor company’s stock worth $49,000 after acquiring an additional 164 shares during the last quarter. Fidelis Capital Partners LLC acquired a new position in shares of Silicon Laboratories during the first quarter worth approximately $55,000. Finally, Mather Group LLC. acquired a new position in shares of Silicon Laboratories during the first quarter worth approximately $63,000.

Insider Buying and Selling

In other Silicon Laboratories news, CEO Robert Matthew Johnson sold 7,230 shares of the company’s stock in a transaction that occurred 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 completion of the sale, the chief executive officer now owns 47,910 shares of the company’s stock, valued at $5,931,258. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.72% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on SLAB. Barclays lowered their price target on shares of Silicon Laboratories from $140.00 to $120.00 and set an “equal weight” rating for the company in a report on Thursday, April 25th. Needham & Company LLC raised Silicon Laboratories from a “hold” rating to a “buy” rating and set a $150.00 target price for the company in a research note on Thursday, April 25th. Benchmark reaffirmed a “hold” rating on shares of Silicon Laboratories in a research note on Thursday, April 25th. TD Cowen decreased their price target on Silicon Laboratories from $155.00 to $145.00 and set a “buy” rating on the stock in a report on Thursday, April 25th. Finally, Citigroup dropped their price objective on Silicon Laboratories from $137.00 to $120.00 and set a “neutral” rating for the company in a report on Thursday, April 25th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $135.00.

Silicon Laboratories Stock Down 0.7 %

NASDAQ SLAB traded down $0.81 on Wednesday, reaching $115.43. The company had a trading volume of 621,105 shares, compared to its average volume of 314,416. Silicon Laboratories Inc. has a 52 week low of $74.56 and a 52 week high of $160.23. The stock’s 50 day moving average is $119.29 and its 200-day moving average is $126.68. The stock has a market cap of $3.68 billion, a price-to-earnings ratio of -35.70 and a beta of 1.20.

Silicon Laboratories (NASDAQ:SLAB) last posted its earnings results on Wednesday, April 24th. The semiconductor company reported ($1.34) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.29) by ($0.05). The company had revenue of $106.38 million for the quarter, compared to analyst estimates of $104.45 million. Silicon Laboratories had a negative return on equity of 4.45% and a negative net margin of 16.36%. As a group, analysts forecast that Silicon Laboratories Inc. will post -3.21 EPS 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.