Legal & General Group Plc Sells 12,554 Shares of Silicon Laboratories, Inc. $SLAB

Legal & General Group Plc cut its holdings in Silicon Laboratories, Inc. (NASDAQ:SLAB) by 19.0% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 53,482 shares of the semiconductor company’s stock after selling 12,554 shares during the period. Legal & General Group Plc owned approximately 0.16% of Silicon Laboratories worth $6,990,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of the business. EverSource Wealth Advisors LLC boosted its stake in shares of Silicon Laboratories by 45.7% during the 3rd quarter. EverSource Wealth Advisors LLC now owns 274 shares of the semiconductor company’s stock worth $36,000 after acquiring an additional 86 shares in the last quarter. Covestor Ltd boosted its stake in shares of Silicon Laboratories by 260.3% during the 4th quarter. Covestor Ltd now owns 281 shares of the semiconductor company’s stock worth $37,000 after acquiring an additional 203 shares in the last quarter. Hantz Financial Services Inc. boosted its stake in shares of Silicon Laboratories by 189.6% during the 3rd quarter. Hantz Financial Services Inc. now owns 362 shares of the semiconductor company’s stock worth $47,000 after acquiring an additional 237 shares in the last quarter. Jones Financial Companies Lllp boosted its stake in shares of Silicon Laboratories by 121.4% during the 1st quarter. Jones Financial Companies Lllp now owns 496 shares of the semiconductor company’s stock worth $56,000 after acquiring an additional 272 shares in the last quarter. Finally, Global Retirement Partners LLC boosted its stake in shares of Silicon Laboratories by 37.3% during the 4th quarter. Global Retirement Partners LLC now owns 497 shares of the semiconductor company’s stock worth $65,000 after acquiring an additional 135 shares in the last quarter.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reiterated a “sell (d-)” rating on shares of Silicon Laboratories in a research note on Friday, March 27th. One equities research analyst has rated the stock with a Buy rating, eight have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $171.43.

Silicon Laboratories Price Performance

SLAB stock opened at $218.11 on Friday. Silicon Laboratories, Inc. has a 52-week low of $115.50 and a 52-week high of $219.68. The company has a 50-day moving average of $214.50 and a two-hundred day moving average of $181.16. The stock has a market capitalization of $7.19 billion, a price-to-earnings ratio of -142.56 and a beta of 1.37.

Silicon Laboratories (NASDAQ:SLAB) last released its quarterly earnings results on Tuesday, May 5th. The semiconductor company reported $0.53 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.49 by $0.04. Silicon Laboratories had a negative net margin of 6.13% and a negative return on equity of 2.18%. The company had revenue of $213.50 million during the quarter, compared to analysts’ expectations of $214.02 million. During the same period in the prior year, the company earned ($0.08) earnings per share. The business’s quarterly revenue was up 20.1% compared to the same quarter last year. Equities analysts expect that Silicon Laboratories, Inc. will post 0.74 EPS for the current fiscal year.

Insider Activity at Silicon Laboratories

In other news, CEO Robert Matthew Johnson sold 8,024 shares of the company’s stock in a transaction dated Monday, May 18th. The shares were sold at an average price of $216.83, for a total transaction of $1,739,843.92. Following the completion of the transaction, the chief executive officer owned 80,519 shares of the company’s stock, valued at approximately $17,458,934.77. This represents a 9.06% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 1.60% of the company’s stock.

Silicon Laboratories Company Profile

Silicon Laboratories (NASDAQ:SLAB) is a global semiconductor company that develops high-performance analog and mixed-signal integrated circuits, wireless system-on-chips (SoCs), microcontrollers, and radio frequency (RF) solutions. Its product portfolio is tailored to support the Internet of Things (IoT), infrastructure, industrial automation, consumer electronics, automotive, and energy markets. By combining silicon, software, and tools, Silicon Labs aims to accelerate development cycles and deliver low-power, highly integrated solutions that address demanding application requirements.

Founded in 1996 and headquartered in Austin, Texas, Silicon Labs has grown into a multinational organization with engineering and sales operations across North America, Europe, and Asia.