Allspring Global Investments Holdings LLC boosted its stake in Silicon Laboratories Inc. (NASDAQ:SLAB – Get Rating) by 3.1% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 90,469 shares of the semiconductor company’s stock after buying an additional 2,736 shares during the quarter. Allspring Global Investments Holdings LLC owned approximately 0.26% of Silicon Laboratories worth $11,167,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in SLAB. Renaissance Technologies LLC lifted its position in Silicon Laboratories by 338.0% in the 1st quarter. Renaissance Technologies LLC now owns 232,998 shares of the semiconductor company’s stock worth $34,996,000 after buying an additional 179,800 shares in the last quarter. Eagle Asset Management Inc. lifted its position in Silicon Laboratories by 21.3% in the 2nd quarter. Eagle Asset Management Inc. now owns 507,636 shares of the semiconductor company’s stock worth $71,180,000 after buying an additional 89,166 shares in the last quarter. Shell Asset Management Co. purchased a new stake in Silicon Laboratories in the 2nd quarter worth approximately $7,942,000. Lisanti Capital Growth LLC purchased a new stake in Silicon Laboratories in the 2nd quarter worth approximately $7,875,000. Finally, Neuberger Berman Group LLC lifted its position in Silicon Laboratories by 866.8% in the 1st quarter. Neuberger Berman Group LLC now owns 34,949 shares of the semiconductor company’s stock worth $5,250,000 after buying an additional 31,334 shares in the last quarter. Hedge funds and other institutional investors own 99.56% of the company’s stock.
Silicon Laboratories Stock Performance
NASDAQ:SLAB opened at $150.09 on Friday. Silicon Laboratories Inc. has a 1 year low of $109.44 and a 1 year high of $189.53. The firm’s fifty day simple moving average is $139.19 and its 200 day simple moving average is $133.45. The company has a current ratio of 7.90, a quick ratio of 7.47 and a debt-to-equity ratio of 0.34. The firm has a market capitalization of $5.00 billion, a PE ratio of 88.29 and a beta of 1.12.
Wall Street Analysts Forecast Growth
SLAB has been the subject of a number of research analyst reports. Cowen increased their target price on shares of Silicon Laboratories from $150.00 to $175.00 in a research report on Wednesday, December 7th. Barclays cut their price target on shares of Silicon Laboratories from $95.00 to $85.00 in a report on Thursday, October 27th. Morgan Stanley cut their price target 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. Cowen raised their price target on shares of Silicon Laboratories from $150.00 to $175.00 and gave the company an “outperform” rating in a report on Wednesday, December 7th. Finally, Needham & Company LLC downgraded shares of Silicon Laboratories from a “buy” rating to a “hold” rating in a report on Thursday, October 27th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $156.38.
Insider Activity at Silicon Laboratories
In related news, Director Nina Richardson sold 1,351 shares of the firm’s stock in a transaction on Tuesday, November 15th. The shares were sold at an average price of $145.00, for a total value of $195,895.00. Following the transaction, the director now directly owns 6,820 shares in the company, valued at approximately $988,900. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 1.61% of the stock is currently owned by company insiders.
About Silicon Laboratories
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.
- Get a free copy of the StockNews.com research report on Silicon Laboratories (SLAB)
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