Mutual of America Capital Management LLC has reduced its holdings in Silicon Laboratories, Inc. (NASDAQ:SLAB) by 3.0% during the second quarter, as reported in its recent Form 13F filing with the Securities and Exchange Commission (SEC). Following the sale of 506 shares, the firm now holds 16,198 shares valued at approximately $2.39 million at the end of the quarter.
Several other investment firms have also adjusted their positions in Silicon Laboratories. Notably, GAMMA Investing LLC increased its stake by 99.6% in the first quarter, acquiring an additional 562 shares to bring its total to 1,126 shares, worth around $127,000. Similarly, Principal Financial Group Inc. raised its holdings by 72.2%, now owning 129,911 shares valued at $14.62 million after purchasing an additional 54,463 shares.
KBC Group NV and Oppenheimer Asset Management Inc. also expanded their investments, increasing their respective stakes by 27.1% and 2.9%. Wealth Enhancement Advisory Services LLC saw a 17.9% increase in its position, now holding 2,751 shares worth $310,000.
Stock Performance and Insider Activity
Silicon Laboratories shares opened at $135.12 on Friday, reflecting a 0.5% increase. The stock has experienced a 12-month low of $82.82 and a high of $160.00. It maintains a market capitalization of $4.43 billion, with a price-to-earnings (P/E) ratio of -41.96 and a beta of 1.51.
In a separate transaction, Senior Vice President Brandon Tolany sold 8,000 shares on August 22 at an average price of $145.23, totaling $1,161,840. This sale reduced his ownership to 62,328 shares, valued at approximately $9.05 million, marking an 11.38% decline in his stake.
Over the past 90 days, insiders have sold 12,070 shares valued at $1.70 million. Currently, corporate insiders own 1.60% of the company’s stock.
Analysts Adjust Price Targets
Recent analysis from various equity firms has led to adjustments in target prices for Silicon Laboratories shares. Stifel Nicolaus raised its target from $144.00 to $160.00, issuing a “buy” rating. KeyCorp also increased its target, moving from $160.00 to $180.00, and providing an “overweight” rating.
Susquehanna adjusted its target from $110.00 to $150.00, designating the stock as “neutral.” Barclays raised its target from $100.00 to $130.00, while Morgan Stanley lowered its target from $157.00 to $144.00, maintaining an “equal weight” rating.
Currently, five analysts have rated the stock as a buy, three have assigned a hold rating, and one has issued a sell rating. According to data from MarketBeat.com, the stock has an average rating of “hold” with a target price of $151.13.
Silicon Laboratories, Inc., a fabless semiconductor company, offers a range of analog-intensive mixed-signal solutions globally. Its products are integral to various sectors, including the industrial Internet of Things (IoT), smart cities, and connected health applications, underpinning its significance in the technology landscape.
