Avalon Global Asset Management LLC Purchases 10,000 Shares of Silicon Laboratories Inc. (NASDAQ:SLAB)

Avalon Global Asset Management LLC grew its holdings in Silicon Laboratories Inc. (NASDAQ:SLAB - Free Report) by 10.2% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 107,900 shares of the semiconductor company's stock after purchasing an additional 10,000 shares during the period. Silicon Laboratories makes up about 1.9% of Avalon Global Asset Management LLC's holdings, making the stock its 16th biggest position. Avalon Global Asset Management LLC owned about 0.33% of Silicon Laboratories worth $12,470,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Harbor Capital Advisors Inc. raised its position in shares of Silicon Laboratories by 8.5% in the second quarter. Harbor Capital Advisors Inc. now owns 1,292 shares of the semiconductor company's stock valued at $143,000 after purchasing an additional 101 shares during the period. Victory Capital Management Inc. grew its stake in Silicon Laboratories by 2.3% during the second quarter. Victory Capital Management Inc. now owns 6,638 shares of the semiconductor company's stock valued at $734,000 after acquiring an additional 150 shares in the last quarter. Advisors Asset Management Inc. grew its stake in Silicon Laboratories by 159.4% during the third quarter. Advisors Asset Management Inc. now owns 275 shares of the semiconductor company's stock valued at $32,000 after acquiring an additional 169 shares in the last quarter. Arizona State Retirement System grew its stake in Silicon Laboratories by 2.3% during the second quarter. Arizona State Retirement System now owns 8,936 shares of the semiconductor company's stock valued at $989,000 after acquiring an additional 202 shares in the last quarter. Finally, GAMMA Investing LLC grew its stake in Silicon Laboratories by 84.1% during the third quarter. GAMMA Investing LLC now owns 497 shares of the semiconductor company's stock valued at $57,000 after acquiring an additional 227 shares in the last quarter.

Insider Activity

In related news, SVP Brandon Tolany sold 845 shares of the company's stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $115.00, for a total transaction of $97,175.00. Following the completion of the sale, the senior vice president now directly owns 43,615 shares in the company, valued at $5,015,725. This represents a 1.90 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. 1.72% of the stock is owned by corporate insiders.

Silicon Laboratories Stock Up 4.3 %

Shares of Silicon Laboratories stock traded up $4.75 during trading on Monday, reaching $115.40. The company's stock had a trading volume of 250,100 shares, compared to its average volume of 297,396. Silicon Laboratories Inc. has a 52-week low of $94.00 and a 52-week high of $154.91. The company has a market cap of $3.74 billion, a price-to-earnings ratio of -14.95 and a beta of 1.20. The firm's 50-day moving average is $110.92 and its two-hundred day moving average is $113.35.

Silicon Laboratories (NASDAQ:SLAB - Get Free Report) last announced its quarterly earnings data on Monday, November 4th. The semiconductor company reported ($0.13) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.20) by $0.07. Silicon Laboratories had a negative net margin of 46.93% and a negative return on equity of 12.60%. The company had revenue of $166.00 million during the quarter, compared to analysts' expectations of $165.50 million. During the same quarter in the prior year, the company earned $0.48 EPS. The firm's revenue was down 18.5% on a year-over-year basis. On average, equities research analysts anticipate that Silicon Laboratories Inc. will post -3.56 EPS for the current year.

Wall Street Analysts Forecast Growth

SLAB has been the subject of several recent analyst reports. Morgan Stanley reduced their price objective on shares of Silicon Laboratories from $123.00 to $97.00 and set an "equal weight" rating for the company in a research note on Tuesday, November 5th. KeyCorp reduced their price objective on shares of Silicon Laboratories from $150.00 to $115.00 and set an "overweight" rating for the company in a research note on Tuesday, November 5th. StockNews.com raised shares of Silicon Laboratories to a "sell" rating in a research note on Friday, November 8th. JPMorgan Chase & Co. cut their price target on shares of Silicon Laboratories from $150.00 to $135.00 and set an "overweight" rating for the company in a research note on Tuesday, November 5th. Finally, Benchmark reissued a "hold" rating on shares of Silicon Laboratories in a research note on Tuesday, November 5th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and five have given a buy rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Hold" and an average target price of $121.50.

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.