Caprock Group LLC Purchases Shares of 3,029 Silicon Laboratories Inc. (NASDAQ:SLAB)

Caprock Group 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 3,029 shares of the semiconductor company’s stock, valued at approximately $376,000.

Several other hedge funds have also recently modified their holdings of the stock. Advisors Asset Management Inc. grew its holdings in Silicon Laboratories by 159.4% during the third quarter. Advisors Asset Management Inc. now owns 275 shares of the semiconductor company’s stock worth $32,000 after acquiring an additional 169 shares during the period. GAMMA Investing LLC grew its stake in shares of Silicon Laboratories by 84.1% during the 3rd quarter. GAMMA Investing LLC now owns 497 shares of the semiconductor company’s stock worth $57,000 after purchasing an additional 227 shares during the period. International Assets Investment Management LLC grew its stake in shares of Silicon Laboratories by 11,457.1% during the 3rd quarter. International Assets Investment Management LLC now owns 809 shares of the semiconductor company’s stock worth $93,000 after purchasing an additional 802 shares during the period. KBC Group NV increased its holdings in shares of Silicon Laboratories by 42.1% during the 4th quarter. KBC Group NV now owns 1,279 shares of the semiconductor company’s stock valued at $159,000 after purchasing an additional 379 shares in the last quarter. Finally, Van ECK Associates Corp purchased a new stake in Silicon Laboratories during the third quarter worth $189,000.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on SLAB. KeyCorp lifted their price target on Silicon Laboratories from $115.00 to $160.00 and gave the company an “overweight” rating in a research note on Wednesday, January 22nd. Morgan Stanley lowered their price objective on Silicon Laboratories from $123.00 to $97.00 and set an “equal weight” rating on the stock in a research note on Tuesday, November 5th. Needham & Company LLC lifted their price target on Silicon Laboratories from $140.00 to $150.00 and gave the stock a “buy” rating in a report on Wednesday. Stifel Nicolaus boosted their price target on shares of Silicon Laboratories from $135.00 to $145.00 and gave the company a “buy” rating in a research report on Monday, January 6th. Finally, JPMorgan Chase & Co. cut their price objective on shares of Silicon Laboratories from $150.00 to $135.00 and set an “overweight” rating for the company in a research report on Tuesday, November 5th. One research 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’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $136.20.

Insider Activity at Silicon Laboratories

In other news, Director William G. Bock sold 2,000 shares of the stock in a transaction on Wednesday, January 22nd. The stock was sold at an average price of $140.77, for a total value of $281,540.00. Following the completion of the transaction, the director now owns 32,115 shares of the company’s stock, valued at approximately $4,520,828.55. This represents a 5.86 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Insiders own 1.72% of the company’s stock.

Silicon Laboratories Stock Performance

Shares of NASDAQ:SLAB opened at $149.06 on Thursday. The business’s fifty day moving average price is $128.35 and its two-hundred day moving average price is $116.74. The stock has a market cap of $4.84 billion, a PE ratio of -20.14 and a beta of 1.16. Silicon Laboratories Inc. has a one year low of $94.00 and a one year high of $154.91.

Silicon Laboratories (NASDAQ:SLAB) last posted its quarterly earnings data on Tuesday, February 4th. The semiconductor company reported ($0.11) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.11). The business had revenue of $166.25 million during the quarter, compared to analyst estimates of $166.09 million. Silicon Laboratories had a negative net margin of 46.93% and a negative return on equity of 12.60%. The company’s revenue was up 91.4% on a year-over-year basis. During the same quarter in the previous year, the business posted ($1.19) earnings per share. As a group, equities research analysts predict that Silicon Laboratories Inc. will post -3.56 earnings per share for the current fiscal year.

About Silicon Laboratories

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.