Intech Investment Management LLC Acquires 5,818 Shares of Silicon Laboratories Inc. (NASDAQ:SLAB)

Intech Investment Management LLC grew its position in shares of Silicon Laboratories Inc. (NASDAQ:SLAB - Free Report) by 82.9% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 12,837 shares of the semiconductor company's stock after buying an additional 5,818 shares during the quarter. Intech Investment Management LLC's holdings in Silicon Laboratories were worth $1,484,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently made changes to their positions in SLAB. Advisors Asset Management Inc. lifted its position 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 purchasing an additional 169 shares during the period. Premier Fund Managers Ltd bought a new position in Silicon Laboratories during the third quarter valued at approximately $934,000. Meeder Asset Management Inc. lifted its position in Silicon Laboratories by 250.1% during the third quarter. Meeder Asset Management Inc. now owns 3,743 shares of the semiconductor company's stock valued at $433,000 after purchasing an additional 2,674 shares during the period. Quest Partners LLC bought a new position in Silicon Laboratories during the third quarter valued at approximately $426,000. Finally, Thrivent Financial for Lutherans lifted its position in Silicon Laboratories by 10.4% during the third quarter. Thrivent Financial for Lutherans now owns 131,548 shares of the semiconductor company's stock valued at $15,203,000 after purchasing an additional 12,435 shares during the period.

Insider Transactions at Silicon Laboratories

In other Silicon Laboratories news, SVP Brandon Tolany sold 845 shares of the stock in a transaction dated 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 transaction, the senior vice president now owns 43,615 shares of the company's stock, valued at $5,015,725. This represents a 1.90 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 1.72% of the company's stock.

Analyst Ratings Changes

A number of research analysts recently weighed in on the stock. JPMorgan Chase & Co. lowered their price objective on shares of Silicon Laboratories from $150.00 to $135.00 and set an "overweight" rating on the stock in a research report on Tuesday, November 5th. Benchmark restated a "hold" rating on shares of Silicon Laboratories in a research report on Tuesday, November 5th. Morgan Stanley decreased their price target on shares of Silicon Laboratories from $123.00 to $97.00 and set an "equal weight" rating on the stock in a research report on Tuesday, November 5th. KeyCorp decreased their price target on shares of Silicon Laboratories from $150.00 to $115.00 and set an "overweight" rating on the stock in a research report on Tuesday, November 5th. Finally, StockNews.com upgraded shares of Silicon Laboratories to a "sell" rating in a research report on Friday, November 8th. One 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. Based on data from MarketBeat, Silicon Laboratories presently has an average rating of "Hold" and an average price target of $121.50.

Silicon Laboratories Stock Performance

Shares of NASDAQ SLAB traded down $4.43 during midday trading on Tuesday, reaching $107.63. The stock had a trading volume of 326,002 shares, compared to its average volume of 298,847. The stock has a 50-day moving average of $111.17 and a 200-day moving average of $113.90. The company has a market capitalization of $3.49 billion, a price-to-earnings ratio of -14.51 and a beta of 1.20. 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 quarterly earnings data on Monday, November 4th. The semiconductor company reported ($0.13) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.20) by $0.07. The firm had revenue of $166.00 million during the quarter, compared to analysts' expectations of $165.50 million. Silicon Laboratories had a negative net margin of 46.93% and a negative return on equity of 12.60%. The company's revenue for the quarter was down 18.5% compared to the same quarter last year. During the same period in the prior year, the company posted $0.48 earnings per share. As a group, analysts forecast that Silicon Laboratories Inc. will post -3.56 EPS for the current fiscal year.

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.