MetLife Investment Management LLC Raises Stock Position in Silicon Laboratories Inc. (NASDAQ:SLAB)

MetLife Investment Management LLC boosted its position in shares of Silicon Laboratories Inc. (NASDAQ:SLAB) by 7.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 36,982 shares of the semiconductor company’s stock after acquiring an additional 2,578 shares during the period. MetLife Investment Management LLC owned 0.11% of Silicon Laboratories worth $4,594,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of the company. Raymond James Financial Inc. purchased a new stake in shares of Silicon Laboratories during the 4th quarter valued at $14,252,000. Arizona State Retirement System increased its position in Silicon Laboratories by 1.8% during the 4th quarter. Arizona State Retirement System now owns 9,360 shares of the semiconductor company’s stock valued at $1,163,000 after buying an additional 167 shares in the last quarter. Franklin Resources Inc. raised its stake in Silicon Laboratories by 1.9% in the third quarter. Franklin Resources Inc. now owns 231,889 shares of the semiconductor company’s stock valued at $27,001,000 after buying an additional 4,278 shares during the last quarter. Barclays PLC boosted its holdings in Silicon Laboratories by 23.4% in the third quarter. Barclays PLC now owns 70,568 shares of the semiconductor company’s stock worth $8,157,000 after acquiring an additional 13,363 shares in the last quarter. Finally, Arkadios Wealth Advisors purchased a new stake in shares of Silicon Laboratories during the fourth quarter worth about $237,000.

Silicon Laboratories Trading Up 8.1 %

Shares of NASDAQ:SLAB opened at $103.88 on Friday. Silicon Laboratories Inc. has a 12-month low of $82.82 and a 12-month high of $160.00. The business has a 50 day moving average of $117.68 and a two-hundred day moving average of $121.04. The company has a market capitalization of $3.37 billion, a PE ratio of -17.49 and a beta of 1.33.

Silicon Laboratories (NASDAQ:SLAB) last announced its quarterly earnings results on Tuesday, February 4th. The semiconductor company reported ($0.11) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.11). Silicon Laboratories had a negative net margin of 32.69% and a negative return on equity of 10.46%. The firm had revenue of $166.25 million for the quarter, compared to the consensus estimate of $166.09 million. During the same period in the prior year, the firm posted ($1.19) earnings per share. The firm’s quarterly revenue was up 91.4% compared to the same quarter last year. Equities research analysts predict that Silicon Laboratories Inc. will post -0.97 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Silicon Laboratories news, Director William G. Bock sold 1,000 shares of the stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $149.43, for a total transaction of $149,430.00. Following the transaction, the director now directly owns 31,115 shares of the company’s stock, valued at $4,649,514.45. This trade represents a 3.11 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Navdeep S. Sooch sold 2,360 shares of the business’s stock in a transaction dated Wednesday, February 5th. The stock was sold at an average price of $149.00, for a total transaction of $351,640.00. Following the sale, the director now directly owns 400,567 shares of the company’s stock, valued at $59,684,483. This represents a 0.59 % decrease in their position. The disclosure for this sale can be found here. 1.60% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of research firms recently commented on SLAB. Needham & Company LLC reiterated a “buy” rating and issued a $150.00 target price on shares of Silicon Laboratories in a research note on Wednesday, March 12th. Benchmark reiterated a “buy” rating and set a $160.00 price objective on shares of Silicon Laboratories in a research note on Wednesday, March 12th. StockNews.com downgraded Silicon Laboratories from a “hold” rating to a “sell” rating in a research report on Thursday, March 27th. KeyCorp boosted their price target on Silicon Laboratories from $115.00 to $160.00 and gave the company an “overweight” rating in a research note on Wednesday, January 22nd. Finally, Stifel Nicolaus cut their price objective on Silicon Laboratories from $145.00 to $120.00 and set a “buy” rating on the stock in a report on Thursday, April 17th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat, Silicon Laboratories currently has an average rating of “Hold” and a consensus price target of $129.70.

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.