Jacobs Levy Equity Management Inc. Has $7.05 Million Stake in Silicon Laboratories Inc. (NASDAQ:SLAB)

Jacobs Levy Equity Management Inc. decreased its stake in Silicon Laboratories Inc. (NASDAQ:SLAB) by 65.6% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 56,749 shares of the semiconductor company’s stock after selling 108,019 shares during the quarter. Jacobs Levy Equity Management Inc.’s holdings in Silicon Laboratories were worth $7,049,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of SLAB. Capital Research Global Investors boosted its stake in Silicon Laboratories by 23.3% in the 4th quarter. Capital Research Global Investors now owns 2,131,920 shares of the semiconductor company’s stock valued at $264,827,000 after buying an additional 403,010 shares in the last quarter. Norges Bank acquired a new position in Silicon Laboratories in the fourth quarter worth $34,622,000. Invesco Ltd. boosted its stake in Silicon Laboratories by 46.9% in the fourth quarter. Invesco Ltd. now owns 595,382 shares of the semiconductor company’s stock worth $73,958,000 after purchasing an additional 190,085 shares in the last quarter. Raymond James Financial Inc. acquired a new position in Silicon Laboratories in the fourth quarter worth $14,252,000. Finally, Alliancebernstein L.P. boosted its stake in Silicon Laboratories by 58.2% in the fourth quarter. Alliancebernstein L.P. now owns 240,321 shares of the semiconductor company’s stock worth $29,853,000 after purchasing an additional 88,438 shares in the last quarter.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the company. Stifel Nicolaus reduced their price objective on Silicon Laboratories from $145.00 to $120.00 and set a “buy” rating on the stock in a research note on Thursday, April 17th. StockNews.com lowered Silicon Laboratories from a “hold” rating to a “sell” rating in a research note on Thursday, March 27th. Benchmark reissued a “buy” rating and issued a $160.00 price objective on shares of Silicon Laboratories in a research note on Wednesday, March 12th. KeyCorp boosted their price objective on Silicon Laboratories from $115.00 to $160.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 22nd. Finally, Barclays reduced their price objective on Silicon Laboratories from $120.00 to $80.00 and set an “equal weight” rating on the stock in a research note on Tuesday, April 22nd. One analyst has rated the stock with a sell rating, three have given a hold rating and five have issued a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $129.00.

Silicon Laboratories Stock Up 5.7%

Shares of SLAB opened at $133.55 on Wednesday. Silicon Laboratories Inc. has a 12-month low of $82.82 and a 12-month high of $160.00. The firm has a market capitalization of $4.34 billion, a PE ratio of -22.48 and a beta of 1.36. The stock’s fifty day simple moving average is $108.70 and its 200-day simple moving average is $120.73.

Insider Activity

In related news, Director Christy Wyatt sold 546 shares of the company’s stock in a transaction dated Tuesday, May 6th. The stock was sold at an average price of $104.45, for a total value of $57,029.70. Following the completion of the sale, the director now owns 8,492 shares in the company, valued at approximately $886,989.40. This represents a 6.04% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director William G. Bock sold 1,000 shares of the company’s stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $149.43, for a total value of $149,430.00. Following the completion of the sale, the director now owns 31,115 shares of the company’s stock, valued at $4,649,514.45. This represents a 3.11% decrease in their position. The disclosure for this sale can be found here. 1.60% of the stock is currently owned by insiders.

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.