Silicon Laboratories Inc. (NASDAQ:SLAB) Shares Sold by CANADA LIFE ASSURANCE Co

CANADA LIFE ASSURANCE Co reduced its position in shares of Silicon Laboratories Inc. (NASDAQ:SLAB) by 1.5% in the 4th quarter, Holdings Channel.com reports. The firm owned 34,890 shares of the semiconductor company’s stock after selling 525 shares during the quarter. CANADA LIFE ASSURANCE Co’s holdings in Silicon Laboratories were worth $4,328,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Norges Bank purchased a new stake in shares of Silicon Laboratories in the 4th quarter valued at approximately $34,622,000. Invesco Ltd. lifted its holdings in Silicon Laboratories by 46.9% in the fourth quarter. Invesco Ltd. now owns 595,382 shares of the semiconductor company’s stock valued at $73,958,000 after acquiring an additional 190,085 shares during the last quarter. Raymond James Financial Inc. purchased a new position in Silicon Laboratories in the fourth quarter worth approximately $14,252,000. Alliancebernstein L.P. increased its stake in Silicon Laboratories by 58.2% during the fourth quarter. Alliancebernstein L.P. now owns 240,321 shares of the semiconductor company’s stock worth $29,853,000 after acquiring an additional 88,438 shares during the last quarter. Finally, Vanguard Group Inc. raised its position in Silicon Laboratories by 1.9% in the fourth quarter. Vanguard Group Inc. now owns 3,959,580 shares of the semiconductor company’s stock valued at $491,859,000 after purchasing an additional 71,942 shares during the period.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on SLAB shares. Barclays cut their price objective on Silicon Laboratories from $120.00 to $80.00 and set an “equal weight” rating for the company in a research report on Tuesday. KeyCorp lifted their price target 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. Benchmark restated a “buy” rating and issued a $160.00 price objective on shares of Silicon Laboratories in a report on Wednesday, March 12th. Needham & Company LLC reiterated a “buy” rating and issued a $150.00 target price on shares of Silicon Laboratories in a report on Wednesday, March 12th. Finally, StockNews.com cut Silicon Laboratories from a “hold” rating to a “sell” rating in a research note on Thursday, March 27th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $129.70.

Insider Buying and Selling

In other Silicon Laboratories news, Director William G. Bock sold 1,000 shares of the firm’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 directly owns 31,115 shares in the company, 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 filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Navdeep S. Sooch sold 2,360 shares of the company’s stock in a transaction dated Wednesday, February 5th. The stock was sold at an average price of $149.00, for a total value of $351,640.00. Following the transaction, the director now directly owns 400,567 shares of the company’s stock, valued at approximately $59,684,483. This represents a 0.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.60% of the stock is owned by insiders.

Silicon Laboratories Trading Up 8.1 %

Shares of NASDAQ SLAB opened at $103.88 on Friday. The stock has a market cap of $3.37 billion, a P/E ratio of -17.49 and a beta of 1.33. The business’s fifty day simple moving average is $117.68 and its 200-day simple moving average is $121.04. Silicon Laboratories Inc. has a 12-month low of $82.82 and a 12-month high of $160.00.

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

Silicon Laboratories 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.