The Manufacturers Life Insurance Company Sells 1,286 Shares of Silicon Laboratories Inc. (NASDAQ:SLAB)

The Manufacturers Life Insurance Company lessened its position in Silicon Laboratories Inc. (NASDAQ:SLAB) by 3.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 36,036 shares of the semiconductor company’s stock after selling 1,286 shares during the period. The Manufacturers Life Insurance Company owned about 0.11% of Silicon Laboratories worth $4,476,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Coldstream Capital Management Inc. grew its holdings in Silicon Laboratories by 2.8% during the fourth quarter. Coldstream Capital Management Inc. now owns 2,473 shares of the semiconductor company’s stock worth $307,000 after purchasing an additional 68 shares during the period. Jones Financial Companies Lllp boosted its stake in shares of 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 acquiring an additional 69 shares during the period. Pacer Advisors Inc. increased its holdings in shares of Silicon Laboratories by 1.8% during the 4th 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 last quarter. Louisiana State Employees Retirement System lifted its holdings in Silicon Laboratories by 1.1% during the 4th quarter. Louisiana State Employees Retirement System now owns 9,000 shares of the semiconductor company’s stock valued at $1,118,000 after purchasing an additional 100 shares during the last quarter. Finally, Oppenheimer Asset Management Inc. lifted its holdings in Silicon Laboratories by 1.4% during the 4th 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 last quarter.

Silicon Laboratories Price Performance

Shares of NASDAQ:SLAB opened at $111.07 on Friday. The company has a market capitalization of $3.61 billion, a P/E ratio of -18.70 and a beta of 1.36. The business’s 50 day simple moving average is $109.29 and its 200 day simple moving average is $120.39. Silicon Laboratories Inc. has a 1 year low of $82.82 and a 1 year high of $160.00.

Silicon Laboratories (NASDAQ:SLAB) last issued its quarterly 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 company had revenue of $166.25 million for the quarter, compared to analysts’ expectations of $166.09 million. During the same quarter last year, the business earned ($1.19) earnings per share. Silicon Laboratories’s revenue was up 91.4% on a year-over-year basis. On average, sell-side analysts anticipate that Silicon Laboratories Inc. will post -0.97 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on SLAB shares. KeyCorp upped their price objective on shares of Silicon Laboratories from $115.00 to $160.00 and gave the company an “overweight” rating in a report on Wednesday, January 22nd. Stifel Nicolaus cut their price objective on shares of Silicon Laboratories from $145.00 to $120.00 and set a “buy” rating for the company in a research report on Thursday, April 17th. Benchmark restated a “buy” rating and set a $160.00 price objective on shares of Silicon Laboratories in a report on Wednesday, March 12th. StockNews.com lowered Silicon Laboratories from a “hold” rating to a “sell” rating in a research note on Thursday, March 27th. Finally, Barclays reduced their price target on Silicon Laboratories from $120.00 to $80.00 and set an “equal weight” rating for the company in a research note on Tuesday, April 22nd. One analyst has rated the stock with a sell rating, three have assigned a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, Silicon Laboratories has an average rating of “Hold” and a consensus target price of $129.00.

Insider Buying and Selling at Silicon Laboratories

In other Silicon Laboratories news, Director Christy Wyatt sold 546 shares of the firm’s stock in a transaction on Tuesday, May 6th. The stock was sold at an average price of $104.45, for a total value of $57,029.70. Following the sale, the director now owns 8,492 shares of the company’s stock, valued at approximately $886,989.40. This trade represents a 6.04 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director William G. Bock sold 1,000 shares of the business’s stock in a transaction 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 transaction, the director now directly owns 31,115 shares of the company’s stock, valued at $4,649,514.45. This trade represents a 3.11 % decrease in their position. The disclosure for this sale can be found here. Insiders own 1.60% 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.