Louisiana State Employees Retirement System Buys New Stake in Silicon Laboratories Inc. (NASDAQ:SLAB)

Louisiana State Employees Retirement System bought a new stake in Silicon Laboratories Inc. (NASDAQ:SLAB) during the fourth quarter, HoldingsChannel.com reports. The fund bought 8,900 shares of the semiconductor company’s stock, valued at approximately $1,177,000.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Venturi Wealth Management LLC bought a new stake in Silicon Laboratories in the third quarter valued at about $30,000. Global Retirement Partners LLC increased its stake in Silicon Laboratories by 31.7% in the third quarter. Global Retirement Partners LLC now owns 507 shares of the semiconductor company’s stock valued at $58,000 after acquiring an additional 122 shares during the period. Itau Unibanco Holding S.A. bought a new stake in Silicon Laboratories in the third quarter valued at about $61,000. Migdal Insurance & Financial Holdings Ltd. boosted its position in Silicon Laboratories by 20.0% in the third quarter. Migdal Insurance & Financial Holdings Ltd. now owns 733 shares of the semiconductor company’s stock valued at $85,000 after buying an additional 122 shares in the last quarter. Finally, International Assets Investment Management LLC boosted its position in Silicon Laboratories by 429.1% in the fourth quarter. International Assets Investment Management LLC now owns 926 shares of the semiconductor company’s stock valued at $122,000 after buying an additional 751 shares in the last quarter.

Silicon Laboratories Trading Up 3.4 %

Shares of SLAB stock opened at $119.12 on Tuesday. The firm has a market capitalization of $3.80 billion, a price-to-earnings ratio of -105.41 and a beta of 1.27. The firm’s 50 day moving average is $135.14 and its 200-day moving average is $122.10. Silicon Laboratories Inc. has a 1 year low of $74.56 and a 1 year high of $168.22.

Silicon Laboratories (NASDAQ:SLAB) last posted its quarterly earnings results on Wednesday, February 7th. The semiconductor company reported ($1.46) earnings per share for the quarter, topping analysts’ consensus estimates of ($1.91) by $0.45. The business had revenue of $86.85 million during the quarter, compared to the consensus estimate of $85.32 million. Silicon Laboratories had a negative net margin of 4.41% and a positive return on equity of 0.97%. On average, equities research analysts forecast that Silicon Laboratories Inc. will post -1.66 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the stock. StockNews.com lowered shares of Silicon Laboratories from a “hold” rating to a “sell” rating in a research report on Friday, December 29th. Stifel Nicolaus boosted their price target on shares of Silicon Laboratories from $136.00 to $155.00 and gave the company a “buy” rating in a research report on Tuesday, January 2nd. TD Cowen boosted their price target on shares of Silicon Laboratories from $140.00 to $155.00 and gave the company an “outperform” rating in a research report on Thursday, February 8th. Barclays upped their target price on shares of Silicon Laboratories from $120.00 to $140.00 and gave the stock an “equal weight” rating in a research report on Thursday, February 8th. Finally, JPMorgan Chase & Co. upped their target price on shares of Silicon Laboratories from $145.00 to $165.00 and gave the stock an “overweight” rating in a research report on Thursday, February 8th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $143.29.

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.