Handelsinvest Investeringsforvaltning Sells 704 Shares of Silicon Laboratories Inc. (NASDAQ:SLAB)

Handelsinvest Investeringsforvaltning lessened its stake in shares of Silicon Laboratories Inc. (NASDAQ:SLAB) by 34.2% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,355 shares of the semiconductor company’s stock after selling 704 shares during the period. Handelsinvest Investeringsforvaltning’s holdings in Silicon Laboratories were worth $195,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in SLAB. L. Roy Papp & Associates LLP boosted its stake in Silicon Laboratories by 1.2% in the fourth quarter. L. Roy Papp & Associates LLP now owns 9,920 shares of the semiconductor company’s stock valued at $1,312,000 after acquiring an additional 120 shares in the last quarter. Coldstream Capital Management Inc. raised its holdings in shares of Silicon Laboratories by 6.9% during the fourth quarter. Coldstream Capital Management Inc. now owns 2,431 shares of the semiconductor company’s stock worth $322,000 after purchasing an additional 157 shares during the last quarter. CWM LLC increased its holdings in Silicon Laboratories by 78.1% in the fourth quarter. CWM LLC now owns 374 shares of the semiconductor company’s stock valued at $49,000 after buying an additional 164 shares in the last quarter. Linden Thomas Advisory Services LLC increased its holdings in Silicon Laboratories by 2.0% in the fourth quarter. Linden Thomas Advisory Services LLC now owns 8,871 shares of the semiconductor company’s stock valued at $1,173,000 after buying an additional 177 shares in the last quarter. Finally, State of Michigan Retirement System increased its holdings in Silicon Laboratories by 2.6% in the first quarter. State of Michigan Retirement System now owns 7,797 shares of the semiconductor company’s stock valued at $1,121,000 after buying an additional 200 shares in the last quarter.

Insiders Place Their Bets

In other Silicon Laboratories news, CEO Robert Matthew Johnson sold 7,230 shares of the business’s stock in a transaction that occurred on Monday, June 3rd. The shares were sold at an average price of $123.80, for a total transaction of $895,074.00. Following the completion of the sale, the chief executive officer now directly owns 47,910 shares in the company, valued at $5,931,258. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 1.72% of the stock is owned by insiders.

Silicon Laboratories Stock Performance

Silicon Laboratories stock opened at $111.42 on Thursday. Silicon Laboratories Inc. has a 1 year low of $74.56 and a 1 year high of $166.94. The firm has a 50 day moving average price of $121.32 and a 200 day moving average price of $127.96.

Silicon Laboratories (NASDAQ:SLAB) last released its quarterly earnings data on Wednesday, April 24th. The semiconductor company reported ($1.34) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.29) by ($0.05). Silicon Laboratories had a negative return on equity of 4.45% and a negative net margin of 16.36%. The business had revenue of $106.38 million for the quarter, compared to analysts’ expectations of $104.45 million. Equities research analysts expect that Silicon Laboratories Inc. will post -3.21 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on the stock. JPMorgan Chase & Co. dropped their target price on shares of Silicon Laboratories from $165.00 to $150.00 and set an “overweight” rating on the stock in a research report on Thursday, April 25th. StockNews.com upgraded shares of Silicon Laboratories to a “sell” rating in a report on Wednesday, May 22nd. Barclays reduced their price target on shares of Silicon Laboratories from $140.00 to $120.00 and set an “equal weight” rating on the stock in a research note on Thursday, April 25th. Summit Insights downgraded shares of Silicon Laboratories from a “buy” rating to a “hold” rating in a research note on Wednesday, April 24th. Finally, Needham & Company LLC raised shares of Silicon Laboratories from a “hold” rating to a “buy” rating and set a $150.00 target price on the stock in a research note on Thursday, April 25th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and five have issued a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $135.00.

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.