Jacobs Levy Equity Management Inc. Sells 68,385 Shares of Silicon Laboratories Inc. (NASDAQ:SLAB)

Jacobs Levy Equity Management Inc. lowered its stake in shares of Silicon Laboratories Inc. (NASDAQ:SLAB - Free Report) by 29.3% in the third quarter, according to its most recent 13F filing with the SEC. The fund owned 164,768 shares of the semiconductor company's stock after selling 68,385 shares during the period. Jacobs Levy Equity Management Inc. owned approximately 0.51% of Silicon Laboratories worth $19,042,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in SLAB. Cullen Frost Bankers Inc. acquired a new position in Silicon Laboratories during the 2nd quarter valued at about $28,000. Advisors Asset Management Inc. boosted its stake in Silicon Laboratories by 159.4% during the 3rd 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 last quarter. GAMMA Investing LLC boosted its stake in Silicon Laboratories by 84.1% during the 3rd quarter. GAMMA Investing LLC now owns 497 shares of the semiconductor company's stock valued at $57,000 after purchasing an additional 227 shares during the last quarter. Daiwa Securities Group Inc. acquired a new position in Silicon Laboratories during the 2nd quarter valued at about $60,000. Finally, Migdal Insurance & Financial Holdings Ltd. acquired a new position in Silicon Laboratories during the 2nd quarter valued at about $82,000.

Silicon Laboratories Stock Performance

SLAB stock traded down $1.77 during midday trading on Thursday, reaching $109.77. 179,770 shares of the company's stock traded hands, compared to its average volume of 298,494. The company has a 50-day moving average price of $110.93 and a two-hundred day moving average price of $113.11. Silicon Laboratories Inc. has a 52 week low of $94.00 and a 52 week high of $154.91. The firm has a market capitalization of $3.56 billion, a PE ratio of -15.07 and a beta of 1.21.

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

Analyst Ratings Changes

A number of brokerages have recently weighed in on SLAB. Barclays cut their target price 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. Benchmark restated a "hold" rating on shares of Silicon Laboratories in a research note on Tuesday, November 5th. KeyCorp cut their target price on Silicon Laboratories from $150.00 to $115.00 and set an "overweight" rating on the stock 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, JPMorgan Chase & Co. cut their target price 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. One analyst has rated the stock with a sell rating, five have assigned a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $121.50.

Silicon Laboratories 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.