Lisanti Capital Growth LLC Purchases New Position in Silicon Laboratories, Inc. $SLAB

Lisanti Capital Growth LLC acquired a new stake in Silicon Laboratories, Inc. (NASDAQ:SLAB) during the second quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 28,450 shares of the semiconductor company’s stock, valued at approximately $4,192,000.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Future Fund LLC bought a new position in Silicon Laboratories during the second quarter worth about $776,000. Campbell & CO Investment Adviser LLC acquired a new position in shares of Silicon Laboratories during the 2nd quarter worth approximately $1,473,000. Connor Clark & Lunn Investment Management Ltd. increased its holdings in shares of Silicon Laboratories by 64.5% during the second quarter. Connor Clark & Lunn Investment Management Ltd. now owns 71,446 shares of the semiconductor company’s stock worth $10,528,000 after purchasing an additional 28,004 shares during the period. Los Angeles Capital Management LLC bought a new stake in shares of Silicon Laboratories in the second quarter valued at approximately $878,000. Finally, EFG Asset Management North America Corp. grew its position in Silicon Laboratories by 4.3% during the second quarter. EFG Asset Management North America Corp. now owns 23,784 shares of the semiconductor company’s stock worth $3,502,000 after buying an additional 986 shares in the last quarter.

Insider Activity at Silicon Laboratories

In other Silicon Laboratories news, SVP Brandon Tolany sold 1,800 shares of the stock in a transaction dated Friday, August 29th. The shares were sold at an average price of $133.57, for a total value of $240,426.00. Following the completion of the sale, the senior vice president owned 62,328 shares in the company, valued at approximately $8,325,150.96. This trade represents a 2.81% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders have sold a total of 12,070 shares of company stock valued at $1,703,472 in the last three months. Corporate insiders own 1.60% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on SLAB shares. Weiss Ratings restated a “sell (d-)” rating on shares of Silicon Laboratories in a research report on Wednesday, October 8th. Susquehanna raised their target price on shares of Silicon Laboratories from $110.00 to $150.00 and gave the company a “neutral” rating in a report on Tuesday, July 22nd. Barclays upped their price target on shares of Silicon Laboratories from $100.00 to $130.00 and gave the stock an “equal weight” rating in a report on Tuesday, August 5th. Morgan Stanley decreased their price objective on shares of Silicon Laboratories from $157.00 to $144.00 and set an “equal weight” rating on the stock in a research note on Wednesday, August 6th. Finally, Stifel Nicolaus upped their target price on Silicon Laboratories from $144.00 to $160.00 and gave the stock a “buy” rating in a research note on Friday, July 18th. Four analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, Silicon Laboratories has an average rating of “Hold” and an average target price of $153.43.

Silicon Laboratories Price Performance

SLAB stock opened at $126.42 on Friday. The company’s 50-day moving average is $133.07 and its 200-day moving average is $132.05. The stock has a market capitalization of $4.15 billion, a PE ratio of -39.26 and a beta of 1.55. Silicon Laboratories, Inc. has a 1 year low of $82.82 and a 1 year high of $160.00.

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.