Geode Capital Management LLC Increases Stake in Silicon Laboratories Inc. (NASDAQ:SLAB)

Geode Capital Management LLC boosted its stake in Silicon Laboratories Inc. (NASDAQ:SLAB - Free Report) by 2.1% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 781,049 shares of the semiconductor company's stock after purchasing an additional 15,728 shares during the quarter. Geode Capital Management LLC owned about 2.41% of Silicon Laboratories worth $90,282,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently made changes to their positions in the stock. FMR LLC boosted its holdings in Silicon Laboratories by 1.1% during the 3rd quarter. FMR LLC now owns 4,843,370 shares of the semiconductor company's stock valued at $559,748,000 after acquiring an additional 54,708 shares during the period. Wellington Management Group LLP increased its position in Silicon Laboratories by 28.3% during the 3rd quarter. Wellington Management Group LLP now owns 888,382 shares of the semiconductor company's stock valued at $102,670,000 after purchasing an additional 195,997 shares during the period. Dimensional Fund Advisors LP increased its position in shares of Silicon Laboratories by 2.0% during the second quarter. Dimensional Fund Advisors LP now owns 639,065 shares of the semiconductor company's stock valued at $70,699,000 after buying an additional 12,680 shares during the period. Van Berkom & Associates Inc. raised its stake in Silicon Laboratories by 8.4% in the second quarter. Van Berkom & Associates Inc. now owns 609,232 shares of the semiconductor company's stock worth $67,399,000 after buying an additional 47,058 shares in the last quarter. Finally, Federated Hermes Inc. lifted its holdings in Silicon Laboratories by 2.2% in the second quarter. Federated Hermes Inc. now owns 545,833 shares of the semiconductor company's stock worth $60,386,000 after buying an additional 11,981 shares during the period.

Silicon Laboratories Trading Up 0.9 %

Shares of NASDAQ SLAB traded up $1.17 during trading hours on Friday, hitting $125.00. 885,520 shares of the company traded hands, compared to its average volume of 301,420. The company's 50 day moving average price is $113.03 and its 200 day moving average price is $113.02. The stock has a market capitalization of $4.06 billion, a price-to-earnings ratio of -16.89 and a beta of 1.21. Silicon Laboratories Inc. has a 12 month low of $94.00 and a 12 month high of $154.91.

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

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the company. Susquehanna assumed coverage on Silicon Laboratories in a report on Tuesday. They issued a "neutral" rating and a $130.00 price objective for the company. Barclays cut their price target on Silicon Laboratories from $120.00 to $75.00 and set an "equal weight" rating on the stock in a research note on Tuesday, November 5th. Stifel Nicolaus lowered their price objective on Silicon Laboratories from $160.00 to $135.00 and set a "buy" rating for the company in a research note on Tuesday, November 5th. Morgan Stanley cut their target price on Silicon Laboratories from $123.00 to $97.00 and set an "equal weight" rating on the stock in a research note on Tuesday, November 5th. Finally, KeyCorp lowered their price target on Silicon Laboratories from $150.00 to $115.00 and set an "overweight" rating for the company in a research report on Tuesday, November 5th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and five have given a buy rating to the company. According to data from MarketBeat, Silicon Laboratories has an average rating of "Hold" and a consensus target price of $122.44.

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.