Davidson Investment Advisors raised its stake in Silicon Laboratories Inc. (NASDAQ:SLAB – Free Report) by 0.4% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 86,192 shares of the semiconductor company’s stock after acquiring an additional 326 shares during the quarter. Davidson Investment Advisors’ holdings in Silicon Laboratories were worth $13,596,000 at the end of the most recent reporting period.
Other hedge funds have also recently bought and sold shares of the company. Belpointe Asset Management LLC increased its stake in shares of Silicon Laboratories by 72.5% during the first quarter. Belpointe Asset Management LLC now owns 207 shares of the semiconductor company’s stock worth $36,000 after purchasing an additional 87 shares during the period. Live Oak Investment Partners acquired a new stake in shares of Silicon Laboratories during the fourth quarter worth $39,000. Venturi Wealth Management LLC acquired a new stake in shares of Silicon Laboratories during the first quarter worth $45,000. Global Retirement Partners LLC boosted its position in shares of Silicon Laboratories by 39.0% in the second quarter. Global Retirement Partners LLC now owns 385 shares of the semiconductor company’s stock valued at $61,000 after acquiring an additional 108 shares during the period. Finally, Covestor Ltd grew its stake in shares of Silicon Laboratories by 214.8% in the first quarter. Covestor Ltd now owns 554 shares of the semiconductor company’s stock valued at $83,000 after acquiring an additional 378 shares in the last quarter.
Analyst Upgrades and Downgrades
A number of research analysts have issued reports on the stock. Morgan Stanley decreased their target price on shares of Silicon Laboratories from $154.00 to $110.00 and set an “equal weight” rating on the stock in a research report on Monday, October 30th. TheStreet cut Silicon Laboratories from a “c” rating to a “d+” rating in a report on Thursday, November 2nd. StockNews.com assumed coverage on Silicon Laboratories in a report on Thursday, October 5th. They set a “hold” rating on the stock. Citigroup dropped their price target on Silicon Laboratories from $165.00 to $148.00 and set a “neutral” rating for the company in a research note on Friday, July 28th. Finally, KeyCorp reduced their price objective on shares of Silicon Laboratories from $180.00 to $130.00 and set an “overweight” rating on the stock in a research note on Thursday, November 2nd. Five equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $152.88.
Silicon Laboratories Trading Up 2.5 %
Silicon Laboratories stock traded up $2.46 during midday trading on Monday, reaching $102.46. The company’s stock had a trading volume of 167,108 shares, compared to its average volume of 474,373. The stock has a market cap of $3.26 billion, a PE ratio of 54.95 and a beta of 1.15. Silicon Laboratories Inc. has a 52 week low of $74.56 and a 52 week high of $194.68. The business has a 50-day moving average price of $106.84 and a 200-day moving average price of $131.81.
Insider Activity at Silicon Laboratories
In other Silicon Laboratories news, CEO Robert Matthew Johnson sold 3,534 shares of the firm’s stock in a transaction that occurred on Monday, October 2nd. The shares were sold at an average price of $115.23, for a total value of $407,222.82. Following the sale, the chief executive officer now owns 34,729 shares in the company, valued at $4,001,822.67. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 1.96% of the stock is currently owned by insiders.
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 Internet of Things (IoT), including connected home and security, industrial automation and control, smart metering, smart lighting, commercial building automation, consumer electronics, asset tracking, and medical instrumentation.
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