Skandinaviska Enskilda Banken AB publ Takes Position in Silicon Laboratories, Inc. (NASDAQ:SLAB)

Skandinaviska Enskilda Banken AB publ bought a new position in Silicon Laboratories, Inc. (NASDAQ:SLAB) during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 304 shares of the semiconductor company’s stock, valued at approximately $34,000.

Other large investors have also bought and sold shares of the company. Coldstream Capital Management Inc. boosted its stake in Silicon Laboratories by 2.8% in the fourth quarter. Coldstream Capital Management Inc. now owns 2,473 shares of the semiconductor company’s stock worth $307,000 after purchasing an additional 68 shares in the last quarter. Oregon Public Employees Retirement Fund lifted its position in Silicon Laboratories by 1.5% during the 1st quarter. Oregon Public Employees Retirement Fund now owns 6,668 shares of the semiconductor company’s stock worth $751,000 after buying an additional 100 shares in the last quarter. State of Michigan Retirement System grew its holdings in Silicon Laboratories by 1.3% during the 1st quarter. State of Michigan Retirement System now owns 7,797 shares of the semiconductor company’s stock worth $878,000 after acquiring an additional 100 shares during the last quarter. Louisiana State Employees Retirement System increased its position in Silicon Laboratories by 1.1% in the 1st quarter. Louisiana State Employees Retirement System now owns 9,100 shares of the semiconductor company’s stock valued at $1,024,000 after acquiring an additional 100 shares in the last quarter. Finally, Securian Asset Management Inc. raised its stake in shares of Silicon Laboratories by 4.2% in the first quarter. Securian Asset Management Inc. now owns 2,498 shares of the semiconductor company’s stock worth $281,000 after acquiring an additional 100 shares during the last quarter.

Insiders Place Their Bets

In related news, SVP Robert J. Conrad sold 4,029 shares of the stock in a transaction that occurred on Friday, May 16th. The stock was sold at an average price of $131.20, for a total transaction of $528,604.80. Following the completion of the sale, the senior vice president directly owned 25,380 shares of the company’s stock, valued at approximately $3,329,856. This represents a 13.70% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Christy Wyatt sold 546 shares of the firm’s stock in a transaction that occurred on Tuesday, May 6th. The stock was sold at an average price of $104.45, for a total transaction of $57,029.70. Following the sale, the director owned 8,492 shares in the company, valued at $886,989.40. This trade represents a 6.04% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 11,626 shares of company stock worth $1,509,319. Corporate insiders own 1.60% of the company’s stock.

Silicon Laboratories Trading Down 1.2%

Silicon Laboratories stock opened at $135.45 on Thursday. The firm has a market capitalization of $4.41 billion, a P/E ratio of -26.51 and a beta of 1.47. The business has a 50-day moving average of $137.97 and a 200-day moving average of $128.44. Silicon Laboratories, Inc. has a 1 year low of $82.82 and a 1 year high of $160.00.

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

Wall Street Analyst Weigh In

Several analysts have recently commented on the stock. Stifel Nicolaus increased their price target on shares of Silicon Laboratories from $144.00 to $160.00 and gave the company a “buy” rating in a research note on Friday, July 18th. Wall Street Zen raised Silicon Laboratories from a “sell” rating to a “hold” rating in a report on Wednesday, May 14th. KeyCorp lifted their target price on Silicon Laboratories from $160.00 to $180.00 and gave the company an “overweight” rating in a research note on Tuesday, July 8th. Benchmark reaffirmed a “buy” rating and set a $160.00 price target on shares of Silicon Laboratories in a research note on Tuesday, May 27th. Finally, Barclays decreased their price target on Silicon Laboratories from $120.00 to $80.00 and set an “equal weight” rating on the stock in a report on Tuesday, April 22nd. Four research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Silicon Laboratories presently has a consensus rating of “Moderate Buy” and an average target price of $139.00.

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.