Franklin Resources Inc. Has $27.78 Million Stock Position in Silicon Laboratories Inc. (NASDAQ:SLAB)

Franklin Resources Inc. lessened its position in shares of Silicon Laboratories Inc. (NASDAQ:SLAB) by 3.5% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 223,669 shares of the semiconductor company’s stock after selling 8,220 shares during the period. Franklin Resources Inc. owned approximately 0.69% of Silicon Laboratories worth $27,784,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in SLAB. Jones Financial Companies Lllp lifted its holdings in Silicon Laboratories by 44.5% during the 4th quarter. Jones Financial Companies Lllp now owns 224 shares of the semiconductor company’s stock worth $28,000 after purchasing an additional 69 shares during the last quarter. Pacer Advisors Inc. lifted its holdings in shares of Silicon Laboratories by 1.8% during the fourth quarter. Pacer Advisors Inc. now owns 4,839 shares of the semiconductor company’s stock worth $601,000 after buying an additional 87 shares in the last quarter. Louisiana State Employees Retirement System boosted its position in shares of Silicon Laboratories by 1.1% in the fourth quarter. Louisiana State Employees Retirement System now owns 9,000 shares of the semiconductor company’s stock valued at $1,118,000 after acquiring an additional 100 shares during the period. Oppenheimer Asset Management Inc. boosted its position in shares of Silicon Laboratories by 1.4% in the fourth quarter. Oppenheimer Asset Management Inc. now owns 7,169 shares of the semiconductor company’s stock valued at $891,000 after acquiring an additional 102 shares during the period. Finally, Procyon Advisors LLC increased its position in Silicon Laboratories by 4.4% during the fourth quarter. Procyon Advisors LLC now owns 3,176 shares of the semiconductor company’s stock worth $395,000 after acquiring an additional 133 shares during the period.

Silicon Laboratories Trading Down 7.1 %

SLAB stock opened at $92.08 on Friday. The stock has a market capitalization of $2.99 billion, a P/E ratio of -15.50 and a beta of 1.33. The firm has a 50-day moving average price of $133.58 and a 200-day moving average price of $123.56. Silicon Laboratories Inc. has a 12 month low of $89.05 and a 12 month high of $160.00.

Silicon Laboratories (NASDAQ:SLAB) last issued its earnings results on Tuesday, February 4th. The semiconductor company reported ($0.11) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.11). The firm had revenue of $166.25 million for the quarter, compared to analyst estimates of $166.09 million. Silicon Laboratories had a negative net margin of 32.69% and a negative return on equity of 10.46%. The company’s quarterly revenue was up 91.4% on a year-over-year basis. During the same quarter last year, the business posted ($1.19) earnings per share. As a group, equities analysts predict that Silicon Laboratories Inc. will post -0.97 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director Navdeep S. Sooch sold 2,360 shares of Silicon Laboratories stock in a transaction that occurred on Wednesday, February 5th. The shares were sold at an average price of $149.00, for a total transaction of $351,640.00. Following the sale, the director now directly owns 400,567 shares in the company, valued at $59,684,483. This trade represents a 0.59 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director William G. Bock sold 1,000 shares of the company’s stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $149.43, for a total transaction of $149,430.00. Following the completion of the transaction, the director now owns 31,115 shares of the company’s stock, valued at approximately $4,649,514.45. This trade represents a 3.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 5,360 shares of company stock worth $782,610 in the last 90 days. Insiders own 1.60% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have issued reports on SLAB shares. StockNews.com lowered shares of Silicon Laboratories from a “hold” rating to a “sell” rating in a research report on Thursday, March 27th. KeyCorp lifted their price objective on Silicon Laboratories from $115.00 to $160.00 and gave the company an “overweight” rating in a report on Wednesday, January 22nd. Benchmark reiterated a “buy” rating and set a $160.00 target price on shares of Silicon Laboratories in a research report on Wednesday, March 12th. Susquehanna initiated coverage on Silicon Laboratories in a research report on Tuesday, December 17th. They issued a “neutral” rating and a $130.00 price target on the stock. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $150.00 price objective on shares of Silicon Laboratories in a research report on Wednesday, March 12th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $136.20.

Silicon Laboratories 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 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.