Russell Investments Group Ltd. Purchases 12,667 Shares of Silicon Laboratories Inc. (NASDAQ:SLAB)

Russell Investments Group Ltd. increased its holdings in shares of Silicon Laboratories Inc. (NASDAQ:SLAB - Free Report) by 31.7% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 52,578 shares of the semiconductor company's stock after acquiring an additional 12,667 shares during the period. Russell Investments Group Ltd. owned about 0.16% of Silicon Laboratories worth $7,557,000 at the end of the most recent quarter.

• Silicon Labs Stock is Falling to a Better Place

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. GAMMA Investing LLC bought a new stake in shares of Silicon Laboratories during the fourth quarter valued at approximately $36,000. Gladius Capital Management LP boosted its position in Silicon Laboratories by 328.7% in the 4th quarter. Gladius Capital Management LP now owns 373 shares of the semiconductor company's stock valued at $49,000 after buying an additional 286 shares during the last quarter. CWM LLC increased its stake in shares of Silicon Laboratories by 78.1% in the 4th quarter. CWM LLC now owns 374 shares of the semiconductor company's stock valued at $49,000 after buying an additional 164 shares during the period. Fidelis Capital Partners LLC bought a new stake in shares of Silicon Laboratories during the first quarter worth $55,000. Finally, Mather Group LLC. acquired a new position in shares of Silicon Laboratories during the first quarter valued at $63,000.

Insider Activity

In related news, CEO Robert Matthew Johnson sold 7,230 shares of the company's stock in a transaction on Monday, June 3rd. The shares were sold at an average price of $123.80, for a total value of $895,074.00. Following the completion of the transaction, the chief executive officer now directly owns 47,910 shares of the company's stock, valued at approximately $5,931,258. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Corporate insiders own 1.72% of the company's stock.

Silicon Laboratories Stock Down 3.4 %

• Mid-Cap Chip Designers Trade Near Highs; Outperform Broader Market

Shares of Silicon Laboratories stock opened at $110.33 on Friday. Silicon Laboratories Inc. has a 12 month low of $74.56 and a 12 month high of $161.63. The stock's fifty day simple moving average is $119.79 and its 200 day simple moving average is $126.70.

Silicon Laboratories (NASDAQ:SLAB - Get Free Report) last released its quarterly earnings results on Wednesday, April 24th. The semiconductor company reported ($1.34) EPS for the quarter, missing analysts' consensus estimates of ($1.29) by ($0.05). Silicon Laboratories had a negative return on equity of 4.45% and a negative net margin of 16.36%. The business had revenue of $106.38 million for the quarter, compared to analyst estimates of $104.45 million. As a group, research analysts anticipate that Silicon Laboratories Inc. will post -3.21 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on SLAB. Needham & Company LLC upgraded Silicon Laboratories from a "hold" rating to a "buy" rating and set a $150.00 price objective for the company in a research report on Thursday, April 25th. Barclays lowered their price target on shares of Silicon Laboratories from $140.00 to $120.00 and set an "equal weight" rating for the company in a research report on Thursday, April 25th. TD Cowen cut their price objective on shares of Silicon Laboratories from $155.00 to $145.00 and set a "buy" rating on the stock in a report on Thursday, April 25th. Summit Insights lowered shares of Silicon Laboratories from a "buy" rating to a "hold" rating in a report on Wednesday, April 24th. Finally, StockNews.com upgraded shares of Silicon Laboratories to a "sell" rating in a research report on Wednesday, May 22nd. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $135.00.

Read Our Latest Stock Analysis on Silicon Laboratories

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.

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