Worthington Financial Partners LLC Invests $405,000 in Silicon Laboratories, Inc. $SLAB

Worthington Financial Partners LLC acquired a new position in shares of Silicon Laboratories, Inc. (NASDAQ:SLAB) in the fourth quarter, HoldingsChannel.com reports. The firm acquired 3,102 shares of the semiconductor company’s stock, valued at approximately $405,000.

Several other hedge funds also recently modified their holdings of SLAB. Pacer Advisors Inc. increased its position in shares of Silicon Laboratories by 70.3% in the fourth quarter. Pacer Advisors Inc. now owns 7,374 shares of the semiconductor company’s stock valued at $964,000 after acquiring an additional 3,044 shares during the last quarter. Invesco Ltd. boosted its position in Silicon Laboratories by 12.9% during the fourth quarter. Invesco Ltd. now owns 852,493 shares of the semiconductor company’s stock valued at $111,421,000 after purchasing an additional 97,351 shares during the last quarter. First Growth Capital LLC acquired a new position in Silicon Laboratories during the fourth quarter valued at approximately $130,000. Mercer Global Advisors Inc. ADV acquired a new position in Silicon Laboratories during the fourth quarter valued at approximately $206,000. Finally, Vident Advisory LLC grew its stake in Silicon Laboratories by 2.5% in the fourth quarter. Vident Advisory LLC now owns 3,018 shares of the semiconductor company’s stock valued at $394,000 after purchasing an additional 74 shares in the last quarter.

Insider Transactions at Silicon Laboratories

In related news, CEO Robert Matthew Johnson sold 8,024 shares of Silicon Laboratories stock in a transaction dated Monday, May 18th. The stock was sold at an average price of $216.83, for a total transaction of $1,739,843.92. Following the completion of the transaction, the chief executive officer owned 80,519 shares in the company, valued at approximately $17,458,934.77. This trade represents a 9.06% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 1.60% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Silicon Laboratories in a research report on Friday, March 27th. One equities research analyst has rated the stock with a Buy rating, eight have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $171.43.

Silicon Laboratories Price Performance

Shares of SLAB stock opened at $219.75 on Friday. The stock has a market cap of $7.25 billion, a P/E ratio of -143.63 and a beta of 1.37. The company has a fifty day moving average price of $216.67 and a two-hundred day moving average price of $187.99. Silicon Laboratories, Inc. has a one year low of $115.50 and a one year high of $220.90.

Silicon Laboratories (NASDAQ:SLAB) last released its quarterly earnings data on Tuesday, May 5th. The semiconductor company reported $0.53 earnings per share for the quarter, topping the consensus estimate of $0.49 by $0.04. The company had revenue of $213.50 million for the quarter, compared to analyst estimates of $214.02 million. Silicon Laboratories had a negative net margin of 6.13% and a negative return on equity of 2.18%. Silicon Laboratories’s revenue for the quarter was up 20.1% compared to the same quarter last year. During the same period in the previous year, the business earned ($0.08) EPS. As a group, equities research analysts anticipate that Silicon Laboratories, Inc. will post 0.74 EPS for the current fiscal year.

Silicon Laboratories Company Profile

Silicon Laboratories (NASDAQ:SLAB) is a global semiconductor company that develops high-performance analog and mixed-signal integrated circuits, wireless system-on-chips (SoCs), microcontrollers, and radio frequency (RF) solutions. Its product portfolio is tailored to support the Internet of Things (IoT), infrastructure, industrial automation, consumer electronics, automotive, and energy markets. By combining silicon, software, and tools, Silicon Labs aims to accelerate development cycles and deliver low-power, highly integrated solutions that address demanding application requirements.

Founded in 1996 and headquartered in Austin, Texas, Silicon Labs has grown into a multinational organization with engineering and sales operations across North America, Europe, and Asia.