Proficio Capital Partners LLC Purchases Shares of 19,503 Silicon Laboratories Inc. (NASDAQ:SLAB)

Proficio Capital Partners LLC purchased a new position in shares of Silicon Laboratories Inc. (NASDAQ:SLAB) during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 19,503 shares of the semiconductor company’s stock, valued at approximately $2,423,000.

A number of other large investors have also modified their holdings of the business. Jones Financial Companies Lllp raised its position in Silicon Laboratories by 44.5% during the 4th quarter. Jones Financial Companies Lllp now owns 224 shares of the semiconductor company’s stock worth $28,000 after buying an additional 69 shares during the last quarter. Pacer Advisors Inc. increased its stake in shares of Silicon Laboratories by 1.8% in the fourth quarter. Pacer Advisors Inc. now owns 4,839 shares of the semiconductor company’s stock worth $601,000 after acquiring an additional 87 shares during the period. Louisiana State Employees Retirement System raised its holdings in shares of Silicon Laboratories by 1.1% during the fourth quarter. Louisiana State Employees Retirement System now owns 9,000 shares of the semiconductor company’s stock worth $1,118,000 after purchasing an additional 100 shares during the last quarter. Oppenheimer Asset Management Inc. lifted its position in Silicon Laboratories by 1.4% during the fourth quarter. Oppenheimer Asset Management Inc. now owns 7,169 shares of the semiconductor company’s stock valued at $891,000 after purchasing an additional 102 shares during the period. Finally, Procyon Advisors LLC boosted its holdings in Silicon Laboratories by 4.4% in the fourth quarter. Procyon Advisors LLC now owns 3,176 shares of the semiconductor company’s stock valued at $395,000 after purchasing an additional 133 shares during the last quarter.

Silicon Laboratories Trading Down 1.1 %

Shares of NASDAQ:SLAB opened at $125.24 on Wednesday. The firm has a 50 day simple moving average of $138.33 and a 200-day simple moving average of $122.98. The company has a market capitalization of $4.07 billion, a PE ratio of -21.08 and a beta of 1.15. Silicon Laboratories Inc. has a twelve month low of $94.00 and a twelve month high of $160.00.

Silicon Laboratories (NASDAQ:SLAB) last posted its earnings results on Tuesday, February 4th. The semiconductor company reported ($0.11) EPS for the quarter, hitting analysts’ consensus estimates of ($0.11). Silicon Laboratories had a negative return on equity of 10.46% and a negative net margin of 32.69%. The business had revenue of $166.25 million for the quarter, compared to analysts’ expectations of $166.09 million. During the same quarter in the previous year, the firm earned ($1.19) earnings per share. The business’s revenue was up 91.4% compared to the same quarter last year. As a group, equities research analysts predict that Silicon Laboratories Inc. will post -0.97 EPS for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts have commented on the company. Stifel Nicolaus upped their price objective on Silicon Laboratories from $135.00 to $145.00 and gave the stock a “buy” rating in a research report on Monday, January 6th. Barclays raised their price target on shares of Silicon Laboratories from $75.00 to $120.00 and gave the company an “equal weight” rating in a research report on Friday, January 17th. Susquehanna initiated coverage on shares of Silicon Laboratories in a research report on Tuesday, December 17th. They issued a “neutral” rating and a $130.00 price objective for the company. StockNews.com upgraded Silicon Laboratories from a “sell” rating to a “hold” rating in a research report on Tuesday. Finally, Needham & Company LLC reiterated a “buy” rating and set a $150.00 price target on shares of Silicon Laboratories in a research report on Wednesday, March 12th. Six equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $136.20.

Insider Buying and Selling

In related news, Director William G. Bock sold 1,000 shares of the company’s stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $149.43, for a total value of $149,430.00. Following the sale, the director now owns 31,115 shares in the company, valued at $4,649,514.45. This represents a 3.11 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Navdeep S. Sooch sold 2,360 shares of the firm’s stock in a transaction on Wednesday, February 5th. The shares were sold at an average price of $149.00, for a total value of $351,640.00. Following the completion of the transaction, the director now owns 400,567 shares of the company’s stock, valued at approximately $59,684,483. This represents a 0.59 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 5,360 shares of company stock valued at $782,610 over the last ninety days. Corporate insiders own 1.72% of the company’s stock.

Silicon Laboratories 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 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.