Raymond James & Associates Reduces Stock Position in Silicon Laboratories Inc. (NASDAQ:SLAB)

Raymond James & Associates cut its stake in Silicon Laboratories Inc. (NASDAQ:SLAB – Get Rating) by 6.3% in the fourth quarter, Holdings Channel.com reports. The firm owned 55,505 shares of the semiconductor company’s stock after selling 3,727 shares during the quarter. Raymond James & Associates’ holdings in Silicon Laboratories were worth $7,530,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in SLAB. Renaissance Technologies LLC grew its position in Silicon Laboratories by 338.0% in the first quarter. Renaissance Technologies LLC now owns 232,998 shares of the semiconductor company’s stock worth $34,996,000 after acquiring an additional 179,800 shares during the period. Balyasny Asset Management LLC purchased a new position in Silicon Laboratories in the third quarter worth approximately $8,201,000. Premier Fund Managers Ltd grew its position in Silicon Laboratories by 2,001.7% in the fourth quarter. Premier Fund Managers Ltd now owns 43,400 shares of the semiconductor company’s stock worth $3,275,000 after acquiring an additional 41,335 shares during the period. UBS Group AG boosted its position in shares of Silicon Laboratories by 2,905.4% during the fourth quarter. UBS Group AG now owns 41,384 shares of the semiconductor company’s stock worth $5,615,000 after buying an additional 40,007 shares during the period. Finally, Harrell Investment Partners LLC purchased a new position in shares of Silicon Laboratories during the third quarter worth $4,668,000. 99.56% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other Silicon Laboratories news, Director Christy Wyatt sold 674 shares of the firm’s stock in a transaction on Friday, April 21st. The stock was sold at an average price of $166.38, for a total value of $112,140.12. Following the sale, the director now directly owns 5,720 shares in the company, valued at $951,693.60. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 1.96% of the company’s stock.

Silicon Laboratories Trading Down 0.0 %

Shares of NASDAQ SLAB opened at $139.91 on Friday. The stock has a market cap of $4.46 billion, a P/E ratio of 59.03 and a beta of 1.09. Silicon Laboratories Inc. has a 12-month low of $109.44 and a 12-month high of $194.68. The business’s fifty day simple moving average is $158.13 and its 200-day simple moving average is $154.51.

Wall Street Analyst Weigh In

Several research analysts have recently commented on SLAB shares. Barclays raised their price target on Silicon Laboratories from $85.00 to $100.00 and gave the stock an “underweight” rating in a research report on Monday, January 23rd. Summit Insights upgraded Silicon Laboratories from a “hold” rating to a “buy” rating in a research report on Wednesday, February 1st. Wells Fargo & Company raised their price target on Silicon Laboratories from $155.00 to $190.00 and gave the stock an “overweight” rating in a research report on Thursday, February 2nd. StockNews.com started coverage on Silicon Laboratories in a research report on Thursday. They set a “hold” rating for the company. Finally, Citigroup raised their price target on Silicon Laboratories from $150.00 to $186.00 and gave the stock a “neutral” rating in a research report on Tuesday, February 7th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, Silicon Laboratories currently has an average rating of “Hold” and an average target price of $176.00.

About Silicon Laboratories

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Silicon Laboratories, Inc engages in providing and developing analog-intensive and mixed-signal integrated circuits. It operates through the United States, China, and Rest of World geographical segments. The company was founded by Navdeep S. Sooch, David R. Welland, and Jeffrey W. Scott in August 1996 and is headquartered in Austin, TX.