New Age Alpha Advisors LLC purchased a new stake in Silicon Laboratories, Inc. (NASDAQ:SLAB – Free Report) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 4,289 shares of the semiconductor company’s stock, valued at approximately $561,000.
A number of other hedge funds and other institutional investors also recently made changes to their positions in SLAB. Mitsubishi UFJ Trust & Banking Corp acquired a new position in Silicon Laboratories during the third quarter valued at approximately $1,192,000. Azzad Asset Management Inc. ADV acquired a new position in Silicon Laboratories during the third quarter valued at approximately $924,000. Thrivent Financial for Lutherans raised its position in Silicon Laboratories by 109.4% during the third quarter. Thrivent Financial for Lutherans now owns 113,337 shares of the semiconductor company’s stock valued at $14,862,000 after purchasing an additional 59,207 shares in the last quarter. Tudor Investment Corp ET AL acquired a new position in Silicon Laboratories during the third quarter valued at approximately $4,718,000. Finally, Fox Run Management L.L.C. acquired a new position in Silicon Laboratories during the third quarter valued at approximately $1,577,000.
Silicon Laboratories Stock Performance
NASDAQ SLAB opened at $218.41 on Friday. The firm’s fifty day moving average price is $213.07 and its two-hundred day moving average price is $177.64. The stock has a market cap of $7.20 billion, a PE ratio of -142.75 and a beta of 1.40. Silicon Laboratories, Inc. has a fifty-two week low of $115.50 and a fifty-two week high of $219.20.
Insider Buying and Selling at Silicon Laboratories
In related news, CEO Robert Matthew Johnson sold 8,024 shares of the business’s stock in a transaction on Monday, May 18th. The shares were sold at an average price of $216.83, for a total value of $1,739,843.92. Following the sale, the chief executive officer owned 80,519 shares of the company’s stock, valued at $17,458,934.77. The trade was a 9.06% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders own 1.60% of the company’s stock.
Analysts Set New Price Targets
Several research analysts have commented on SLAB shares. KeyCorp downgraded shares of Silicon Laboratories from an “overweight” rating to a “hold” rating in a research report on Wednesday, February 4th. Weiss Ratings restated a “sell (d-)” rating on shares of Silicon Laboratories in a research report on Friday, March 27th. Royal Bank Of Canada boosted their price objective on shares of Silicon Laboratories from $160.00 to $205.00 and gave the company a “sector perform” rating in a research report on Thursday, February 5th. Needham & Company LLC downgraded shares of Silicon Laboratories from a “buy” rating to a “hold” rating in a research report on Wednesday, February 4th. Finally, Citigroup boosted their target price on shares of Silicon Laboratories from $135.00 to $231.00 and gave the stock a “neutral” rating in a research note on Friday, February 6th. One research analyst has rated the stock with a Buy rating, eight have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, Silicon Laboratories has a consensus rating of “Hold” and a consensus price target of $171.43.
Read Our Latest Research Report on SLAB
Silicon Laboratories Profile
Silicon Laboratories (NASDAQ:SLAB) is a global semiconductor company that develops high-performance analog and mixed-signal integrated circuits, wireless system-on-chips (SoCs), microcontrollers, and radio frequency (RF) solutions. Its product portfolio is tailored to support the Internet of Things (IoT), infrastructure, industrial automation, consumer electronics, automotive, and energy markets. By combining silicon, software, and tools, Silicon Labs aims to accelerate development cycles and deliver low-power, highly integrated solutions that address demanding application requirements.
Founded in 1996 and headquartered in Austin, Texas, Silicon Labs has grown into a multinational organization with engineering and sales operations across North America, Europe, and Asia.
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