Alberta Investment Management Corp Sells 957 Shares of Silicon Laboratories Inc. (NASDAQ:SLAB)

Alberta Investment Management Corp reduced its position in shares of Silicon Laboratories Inc. (NASDAQ:SLAB) by 5.4% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 16,654 shares of the semiconductor company’s stock after selling 957 shares during the period. Alberta Investment Management Corp owned approximately 0.05% of Silicon Laboratories worth $2,069,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the company. Franklin Resources Inc. raised its stake in Silicon Laboratories by 1.9% in the third quarter. Franklin Resources Inc. now owns 231,889 shares of the semiconductor company’s stock valued at $27,001,000 after purchasing an additional 4,278 shares in the last quarter. Point72 Asset Management L.P. bought a new position in shares of Silicon Laboratories in the 3rd quarter worth $7,408,000. Intech Investment Management LLC raised its position in shares of Silicon Laboratories by 82.9% during the 3rd quarter. Intech Investment Management LLC now owns 12,837 shares of the semiconductor company’s stock valued at $1,484,000 after buying an additional 5,818 shares in the last quarter. Barclays PLC lifted its holdings in shares of Silicon Laboratories by 23.4% during the 3rd quarter. Barclays PLC now owns 70,568 shares of the semiconductor company’s stock worth $8,157,000 after acquiring an additional 13,363 shares during the last quarter. Finally, Premier Fund Managers Ltd purchased a new position in Silicon Laboratories in the third quarter worth $934,000.

Silicon Laboratories Stock Down 2.1 %

Shares of Silicon Laboratories stock opened at $155.33 on Friday. The company’s fifty day simple moving average is $136.14 and its two-hundred day simple moving average is $119.75. Silicon Laboratories Inc. has a 12-month low of $94.00 and a 12-month high of $160.00. The firm has a market cap of $5.04 billion, a PE ratio of -26.15 and a beta of 1.16.

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

Insider Activity

In related news, Director William G. Bock sold 1,000 shares of Silicon Laboratories stock in a transaction on Tuesday, February 18th. The shares were 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. The trade was a 3.11 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Navdeep S. Sooch sold 2,360 shares of the company’s stock in a transaction on Wednesday, February 5th. The stock was sold at an average price of $149.00, for a total transaction of $351,640.00. Following the completion of the transaction, the director now owns 400,567 shares of the company’s stock, valued at $59,684,483. This trade represents a 0.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 5,360 shares of company stock valued at $782,610. Company insiders own 1.72% of the company’s stock.

Analyst Upgrades and Downgrades

SLAB has been the subject of several research analyst reports. Morgan Stanley dropped their price target on Silicon Laboratories from $123.00 to $97.00 and set an “equal weight” rating for the company in a research note on Tuesday, November 5th. Susquehanna assumed coverage on Silicon Laboratories in a research report on Tuesday, December 17th. They issued a “neutral” rating and a $130.00 target price for the company. JPMorgan Chase & Co. reduced their price target on shares of Silicon Laboratories from $150.00 to $135.00 and set an “overweight” rating on the stock in a research report on Tuesday, November 5th. KeyCorp lifted their price target on shares of Silicon Laboratories from $115.00 to $160.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 22nd. Finally, Barclays upped their price objective on shares of Silicon Laboratories from $75.00 to $120.00 and gave the company an “equal weight” rating in a research note on Friday, January 17th. One analyst has rated the stock with a sell rating, five have issued a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $136.20.

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 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.