Fisher Asset Management LLC Grows Stake in Silicon Laboratories Inc. (NASDAQ:SLAB)

Fisher Asset Management LLC boosted its position in shares of Silicon Laboratories Inc. (NASDAQ:SLAB) by 2.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 37,214 shares of the semiconductor company’s stock after acquiring an additional 809 shares during the quarter. Fisher Asset Management LLC owned 0.12% of Silicon Laboratories worth $4,922,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of the company. SG Americas Securities LLC purchased a new position in shares of Silicon Laboratories in the third quarter worth approximately $380,000. Raymond James & Associates grew its position in shares of Silicon Laboratories by 14.2% during the 3rd quarter. Raymond James & Associates now owns 79,046 shares of the semiconductor company’s stock valued at $9,161,000 after acquiring an additional 9,845 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of Silicon Laboratories by 6.8% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,372 shares of the semiconductor company’s stock worth $738,000 after purchasing an additional 403 shares in the last quarter. Park Avenue Securities LLC bought a new position in Silicon Laboratories in the 3rd quarter worth $339,000. Finally, Inspire Investing LLC grew its holdings in Silicon Laboratories by 33.5% during the third quarter. Inspire Investing LLC now owns 2,647 shares of the semiconductor company’s stock valued at $307,000 after purchasing an additional 664 shares during the period.

Silicon Laboratories Trading Up 1.1 %

Shares of Silicon Laboratories stock opened at $126.12 on Wednesday. The firm has a market cap of $4.03 billion, a PE ratio of -38.10 and a beta of 1.25. The stock has a 50 day moving average of $131.67 and a 200 day moving average of $122.99. Silicon Laboratories Inc. has a 12 month low of $74.56 and a 12 month high of $166.94.

Silicon Laboratories (NASDAQ:SLAB) last posted its earnings results on Wednesday, April 24th. The semiconductor company reported ($1.34) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.29) by ($0.05). Silicon Laboratories had a negative net margin of 16.36% and a negative return on equity of 4.45%. The business had revenue of $106.38 million during the quarter, compared to analysts’ expectations of $104.45 million. As a group, equities research analysts forecast that Silicon Laboratories Inc. will post -3.1 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

SLAB has been the topic of several recent research reports. TD Cowen decreased their price objective on Silicon Laboratories from $155.00 to $145.00 and set a “buy” rating on the stock in a research note on Thursday, April 25th. Needham & Company LLC raised shares of Silicon Laboratories from a “hold” rating to a “buy” rating and set a $150.00 price target on the stock in a report on Thursday, April 25th. JPMorgan Chase & Co. reduced their price objective on shares of Silicon Laboratories from $165.00 to $150.00 and set an “overweight” rating for the company in a research note on Thursday, April 25th. Citigroup lowered their target price on shares of Silicon Laboratories from $137.00 to $120.00 and set a “neutral” rating on the stock in a research note on Thursday, April 25th. Finally, Benchmark reiterated a “hold” rating on shares of Silicon Laboratories in a research note on Thursday, April 25th. One analyst has rated the stock with a sell rating, six have issued a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $135.00.

About Silicon Laboratories

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 industrial Internet of Things (IoT), including industrial automation and control, smart buildings, access control, HVAC control, and industrial wearables and power tools; smart cities applications, such as smart metering, smart street lighting, renewable energy, electric vehicle supply equipment, and smart agriculture; commercial IoT applications, including smart lighting, asset tracking, electronic shelf labels, theft protection, and enterprise access points; smart home applications, comprising home automation/security systems, smart speakers, smart lighting, HVAC control, smart cameras, smart appliances, smart home sensing, smart locks, and window/blind controls; and connected health applications, including diabetes management, consumer health and fitness, elderly care, patient monitoring, and activity tracking; as well as in commercial building automation, consumer electronics, and medical instrumentation.