Stephens Investment Management Group LLC Sells 92,314 Shares of Silicon Laboratories, Inc. $SLAB

Stephens Investment Management Group LLC lowered its position in Silicon Laboratories, Inc. (NASDAQ:SLAB) by 31.4% during the 1st quarter, HoldingsChannel reports. The fund owned 202,029 shares of the semiconductor company’s stock after selling 92,314 shares during the period. Stephens Investment Management Group LLC’s holdings in Silicon Laboratories were worth $42,052,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in SLAB. Praxis Investment Management Inc. purchased a new position in shares of Silicon Laboratories during the 1st quarter worth about $205,000. Pictet Asset Management Holding SA raised its position in Silicon Laboratories by 12.3% in the 1st quarter. Pictet Asset Management Holding SA now owns 5,027 shares of the semiconductor company’s stock worth $1,046,000 after purchasing an additional 551 shares during the period. Louisiana State Employees Retirement System purchased a new stake in Silicon Laboratories in the 1st quarter worth about $1,998,000. Ritholtz Wealth Management bought a new stake in Silicon Laboratories in the first quarter worth about $229,000. Finally, Fifth Third Wealth Advisors LLC bought a new stake in Silicon Laboratories in the first quarter worth about $210,000.

Silicon Laboratories Stock Performance

NASDAQ:SLAB opened at $218.22 on Friday. The company has a market cap of $7.20 billion, a price-to-earnings ratio of -142.63 and a beta of 1.36. Silicon Laboratories, Inc. has a twelve month low of $115.50 and a twelve month high of $220.90. The stock has a fifty day simple moving average of $217.90 and a 200-day simple moving average of $193.63.

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

Analysts Set New Price Targets

Separately, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Silicon Laboratories in a research note on Wednesday, June 24th. 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. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $171.43.

Insider Transactions at Silicon Laboratories

In other Silicon Laboratories news, CEO Robert Matthew Johnson sold 8,024 shares of the business’s stock in a transaction dated Monday, May 18th. The shares were sold at an average price of $216.83, for a total value of $1,739,843.92. Following the completion of the sale, the chief executive officer directly owned 80,519 shares of the company’s stock, valued at $17,458,934.77. The trade was a 9.06% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.60% of the stock is currently owned by company insiders.

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.