Schwartz Investment Counsel Inc. Cuts Holdings in Silicon Laboratories, Inc. (NASDAQ:SLAB)

Schwartz Investment Counsel Inc. cut its position in shares of Silicon Laboratories, Inc. (NASDAQ:SLAB) by 16.2% during the 1st quarter, Holdings Channel reports. The firm owned 192,790 shares of the semiconductor company’s stock after selling 37,210 shares during the quarter. Schwartz Investment Counsel Inc.’s holdings in Silicon Laboratories were worth $21,702,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Raymond James Financial Inc. bought a new stake in Silicon Laboratories in the fourth quarter worth about $14,252,000. Arizona State Retirement System raised its position in Silicon Laboratories by 1.8% in the fourth quarter. Arizona State Retirement System now owns 9,360 shares of the semiconductor company’s stock worth $1,163,000 after acquiring an additional 167 shares during the period. Wealth Enhancement Advisory Services LLC raised its position in Silicon Laboratories by 9.7% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 2,334 shares of the semiconductor company’s stock worth $290,000 after acquiring an additional 206 shares during the period. Rhumbline Advisers raised its position in Silicon Laboratories by 3.5% in the first quarter. Rhumbline Advisers now owns 104,407 shares of the semiconductor company’s stock worth $11,753,000 after acquiring an additional 3,550 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its position in Silicon Laboratories by 5.3% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 439,796 shares of the semiconductor company’s stock worth $54,631,000 after acquiring an additional 21,991 shares during the period.

Silicon Laboratories Trading Down 0.5%

Silicon Laboratories stock opened at $147.85 on Friday. The firm’s 50 day simple moving average is $124.16 and its 200 day simple moving average is $126.04. The firm has a market capitalization of $4.82 billion, a PE ratio of -28.93 and a beta of 1.42. Silicon Laboratories, Inc. has a 1-year low of $82.82 and a 1-year high of $160.00.

Silicon Laboratories (NASDAQ:SLAB) last posted its earnings results on Tuesday, May 13th. The semiconductor company reported ($0.08) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.09) by $0.01. The business had revenue of $177.71 million for the quarter, compared to analyst estimates of $177.48 million. Silicon Laboratories had a negative net margin of 25.16% and a negative return on equity of 8.80%. Silicon Laboratories’s revenue was up 67.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($0.92) EPS. Research analysts forecast that Silicon Laboratories, Inc. will post -0.97 earnings per share for the current year.

Insider Buying and Selling

In other Silicon Laboratories news, CEO Robert Matthew Johnson sold 5,879 shares of the business’s stock in a transaction that occurred on Friday, May 16th. The shares were sold at an average price of $131.20, for a total value of $771,324.80. Following the completion of the transaction, the chief executive officer now owns 73,688 shares of the company’s stock, valued at $9,667,865.60. The trade was a 7.39% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Robert J. Conrad sold 1,172 shares of the business’s stock in a transaction that occurred on Tuesday, May 13th. The stock was sold at an average price of $130.00, for a total transaction of $152,360.00. Following the completion of the transaction, the senior vice president now directly owns 15,972 shares of the company’s stock, valued at approximately $2,076,360. This represents a 6.84% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 11,626 shares of company stock valued at $1,509,319. Company insiders own 1.60% of the company’s stock.

Analysts Set New Price Targets

Several analysts have commented on SLAB shares. Stifel Nicolaus lowered their price objective on shares of Silicon Laboratories from $145.00 to $120.00 and set a “buy” rating on the stock in a research report on Thursday, April 17th. Needham & Company LLC reissued a “buy” rating and issued a $150.00 price target on shares of Silicon Laboratories in a research report on Wednesday, May 14th. Susquehanna boosted their price target on shares of Silicon Laboratories from $100.00 to $110.00 and gave the company a “neutral” rating in a research report on Wednesday, May 14th. Wall Street Zen raised shares of Silicon Laboratories from a “sell” rating to a “hold” rating in a research report on Wednesday, May 14th. Finally, Benchmark reissued a “buy” rating and issued a $160.00 price target on shares of Silicon Laboratories in a research report on Tuesday, May 27th. Four equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $126.50.

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.