Axiom Investors LLC DE Lowers Stock Holdings in Silicon Laboratories Inc. (NASDAQ:SLAB)

Axiom Investors LLC DE cut its stake in shares of Silicon Laboratories Inc. (NASDAQ:SLAB) by 47.9% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 15,462 shares of the semiconductor company’s stock after selling 14,233 shares during the period. Axiom Investors LLC DE’s holdings in Silicon Laboratories were worth $2,439,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in SLAB. AXA S.A. grew its position in shares of Silicon Laboratories by 1.3% during the 1st quarter. AXA S.A. now owns 1,080,287 shares of the semiconductor company’s stock valued at $189,147,000 after buying an additional 13,517 shares during the last quarter. Wellington Management Group LLP lifted its stake in Silicon Laboratories by 12.1% during the first quarter. Wellington Management Group LLP now owns 793,935 shares of the semiconductor company’s stock valued at $139,010,000 after purchasing an additional 85,465 shares during the last quarter. Macquarie Group Ltd. lifted its position in shares of Silicon Laboratories by 17.3% in the 1st quarter. Macquarie Group Ltd. now owns 730,300 shares of the semiconductor company’s stock valued at $127,868,000 after acquiring an additional 107,562 shares in the last quarter. GW&K Investment Management LLC lifted its position in shares of Silicon Laboratories by 0.6% in the 1st quarter. GW&K Investment Management LLC now owns 696,899 shares of the semiconductor company’s stock valued at $122,020,000 after acquiring an additional 4,360 shares in the last quarter. Finally, Geode Capital Management LLC lifted its position in shares of Silicon Laboratories by 1.0% in the 1st quarter. Geode Capital Management LLC now owns 630,575 shares of the semiconductor company’s stock valued at $110,407,000 after acquiring an additional 6,329 shares in the last quarter.

Silicon Laboratories Stock Up 4.0 %

SLAB stock opened at $104.00 on Tuesday. The business has a 50 day moving average of $106.44 and a 200-day moving average of $131.59. The firm has a market cap of $3.31 billion, a PE ratio of 57.14 and a beta of 1.15. Silicon Laboratories Inc. has a 12-month low of $74.56 and a 12-month high of $194.68.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on SLAB. StockNews.com began coverage on shares of Silicon Laboratories in a research note on Thursday, October 5th. They issued a “hold” rating on the stock. Citigroup reduced their price objective on shares of Silicon Laboratories from $165.00 to $148.00 and set a “neutral” rating for the company in a report on Friday, July 28th. Barclays upgraded shares of Silicon Laboratories from an “underweight” rating to an “equal weight” rating in a research report on Wednesday, November 1st. Stifel Nicolaus reduced their price objective on shares of Silicon Laboratories from $186.00 to $170.00 and set a “buy” rating on the stock in a research note on Thursday, October 19th. Finally, TheStreet lowered shares of Silicon Laboratories from a “c” rating to a “d+” rating in a research note on Thursday, November 2nd. Five analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $152.88.

Insider Activity at Silicon Laboratories

In other Silicon Laboratories news, CEO Robert Matthew Johnson sold 3,534 shares of the company’s stock in a transaction that occurred on Monday, October 2nd. The stock was sold at an average price of $115.23, for a total value of $407,222.82. Following the completion of the sale, the chief executive officer now owns 34,729 shares of the company’s stock, valued at $4,001,822.67. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 1.96% of the stock is currently owned by company insiders.

Silicon Laboratories Company 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 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.