Principal Financial Group Inc. Purchases 12,811 Shares of Silicon Laboratories Inc. (NASDAQ:SLAB)

Principal Financial Group Inc. boosted its position in Silicon Laboratories Inc. (NASDAQ:SLABGet Rating) by 9.6% in the 2nd quarter, Holdings Channel reports. The firm owned 145,883 shares of the semiconductor company’s stock after buying an additional 12,811 shares during the quarter. Principal Financial Group Inc.’s holdings in Silicon Laboratories were worth $20,456,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the company. Lazard Asset Management LLC bought a new stake in Silicon Laboratories in the second quarter worth about $25,000. Shell Asset Management Co. bought a new stake in shares of Silicon Laboratories during the second quarter valued at approximately $7,942,000. Meeder Asset Management Inc. raised its stake in shares of Silicon Laboratories by 94.5% during the second quarter. Meeder Asset Management Inc. now owns 282 shares of the semiconductor company’s stock valued at $40,000 after acquiring an additional 137 shares in the last quarter. Zions Bancorporation N.A. raised its stake in shares of Silicon Laboratories by 24.5% during the second quarter. Zions Bancorporation N.A. now owns 6,316 shares of the semiconductor company’s stock valued at $886,000 after acquiring an additional 1,244 shares in the last quarter. Finally, Los Angeles Capital Management LLC raised its stake in shares of Silicon Laboratories by 4.1% during the second quarter. Los Angeles Capital Management LLC now owns 52,291 shares of the semiconductor company’s stock valued at $7,332,000 after acquiring an additional 2,055 shares in the last quarter. Institutional investors own 99.62% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on SLAB. Cowen decreased their price target on shares of Silicon Laboratories from $175.00 to $150.00 in a research note on Thursday, October 27th. Needham & Company LLC lowered shares of Silicon Laboratories from a “buy” rating to a “hold” rating in a report on Thursday, October 27th. Morgan Stanley cut their price objective on shares of Silicon Laboratories from $161.00 to $151.00 and set an “equal weight” rating on the stock in a report on Thursday, October 27th. Barclays cut their price objective on shares of Silicon Laboratories from $95.00 to $85.00 in a report on Thursday, October 27th. Finally, Cowen cut their price objective on shares of Silicon Laboratories from $175.00 to $150.00 in a report on Thursday, October 27th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and two have given a buy rating to the company. According to MarketBeat.com, Silicon Laboratories presently has a consensus rating of “Hold” and an average price target of $152.00.

Insider Transactions at Silicon Laboratories

In other news, Director Christy Wyatt sold 1,495 shares of Silicon Laboratories stock in a transaction on Wednesday, August 24th. The shares were sold at an average price of $134.44, for a total transaction of $200,987.80. Following the completion of the sale, the director now directly owns 5,222 shares in the company, valued at $702,045.68. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other news, Director Christy Wyatt sold 1,495 shares of Silicon Laboratories stock in a transaction on Wednesday, August 24th. The shares were sold at an average price of $134.44, for a total transaction of $200,987.80. Following the completion of the sale, the director now directly owns 5,222 shares in the company, valued at $702,045.68. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Nina Richardson sold 1,351 shares of Silicon Laboratories stock in a transaction on Tuesday, November 15th. The stock was sold at an average price of $145.00, for a total transaction of $195,895.00. Following the sale, the director now owns 6,820 shares of the company’s stock, valued at $988,900. The disclosure for this sale can be found here. Insiders own 1.61% of the company’s stock.

Silicon Laboratories Price Performance

NASDAQ SLAB opened at $137.64 on Tuesday. The firm’s fifty day simple moving average is $126.04 and its two-hundred day simple moving average is $133.92. The company has a current ratio of 7.90, a quick ratio of 7.47 and a debt-to-equity ratio of 0.34. Silicon Laboratories Inc. has a 12-month low of $109.44 and a 12-month high of $211.98. The firm has a market capitalization of $4.58 billion, a P/E ratio of 80.97 and a beta of 1.05.

About Silicon Laboratories

(Get Rating)

Silicon Laboratories Inc, a fabless semiconductor company, provides various analog-intensive mixed-signal solutions in the United States, China, 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 Internet of Things (IoT), including connected home and security, industrial automation and control, smart metering, smart lighting, commercial building automation, consumer electronics, asset tracking, and medical instrumentation.

Further Reading

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Institutional Ownership by Quarter for Silicon Laboratories (NASDAQ:SLAB)

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