Fmr LLC Raises Stock Holdings in Silicon Laboratories Inc. (NASDAQ:SLAB)

FMR LLC boosted its stake in Silicon Laboratories Inc. (NASDAQ:SLAB - Free Report) by 1.1% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 4,843,370 shares of the semiconductor company's stock after acquiring an additional 54,708 shares during the period. FMR LLC owned 14.93% of Silicon Laboratories worth $559,748,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Lazard Asset Management LLC bought a new position in Silicon Laboratories in the first quarter worth about $103,000. Tidal Investments LLC bought a new stake in shares of Silicon Laboratories during the first quarter valued at approximately $230,000. Harbor Capital Advisors Inc. grew its stake in Silicon Laboratories by 8.5% in the second quarter. Harbor Capital Advisors Inc. now owns 1,292 shares of the semiconductor company's stock worth $143,000 after purchasing an additional 101 shares during the period. CWM LLC raised its holdings in Silicon Laboratories by 185.0% in the second quarter. CWM LLC now owns 8,435 shares of the semiconductor company's stock worth $933,000 after purchasing an additional 5,475 shares in the last quarter. Finally, Linden Thomas Advisory Services LLC lifted its position in Silicon Laboratories by 37.2% during the second quarter. Linden Thomas Advisory Services LLC now owns 12,457 shares of the semiconductor company's stock valued at $1,378,000 after buying an additional 3,377 shares during the period.

Insider Activity

In related news, SVP Brandon Tolany sold 845 shares of the business's stock in a transaction that occurred 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 approximately $5,015,725. The trade was a 1.90 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 1.72% of the company's stock.

Silicon Laboratories Stock Up 1.7 %

Shares of Silicon Laboratories stock traded up $1.87 on Friday, reaching $110.65. The company's stock had a trading volume of 120,653 shares, compared to its average volume of 298,100. Silicon Laboratories Inc. has a 52 week low of $94.00 and a 52 week high of $154.91. The firm's fifty day simple moving average is $110.94 and its two-hundred day simple moving average is $113.71. The company has a market capitalization of $3.59 billion, a price-to-earnings ratio of -14.70 and a beta of 1.20.

Silicon Laboratories (NASDAQ:SLAB - Get Free Report) last announced its quarterly earnings results 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. The firm had revenue of $166.00 million for the quarter, compared to the consensus estimate of $165.50 million. Silicon Laboratories had a negative net margin of 46.93% and a negative return on equity of 12.60%. The business's quarterly revenue was down 18.5% compared to the same quarter last year. During the same quarter last year, the firm posted $0.48 EPS. As a group, research analysts predict that Silicon Laboratories Inc. will post -3.56 EPS for the current year.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on SLAB. Benchmark reaffirmed a "hold" rating on shares of Silicon Laboratories in a research report on Tuesday, November 5th. Morgan Stanley cut their price objective on shares of Silicon Laboratories from $123.00 to $97.00 and set an "equal weight" rating on the stock in a report on Tuesday, November 5th. Stifel Nicolaus lowered their target price on shares of Silicon Laboratories from $160.00 to $135.00 and set a "buy" rating for the company in a report on Tuesday, November 5th. JPMorgan Chase & Co. cut their price target on Silicon Laboratories from $150.00 to $135.00 and set an "overweight" rating on the stock in a research note on Tuesday, November 5th. Finally, Barclays lowered their price objective on Silicon Laboratories from $120.00 to $75.00 and set an "equal weight" rating for the company in a research note on Tuesday, November 5th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and five have assigned a buy rating to the company's stock. According to data from MarketBeat.com, Silicon Laboratories presently has a consensus rating of "Hold" and a consensus price target of $121.50.

Silicon Laboratories Company 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.