JPMorgan Chase & Co. Sells 26,022 Shares of Silicon Laboratories Inc. (NASDAQ:SLAB)

JPMorgan Chase & Co. cut its position in shares of Silicon Laboratories Inc. (NASDAQ:SLAB - Free Report) by 19.7% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 106,092 shares of the semiconductor company's stock after selling 26,022 shares during the quarter. JPMorgan Chase & Co. owned approximately 0.33% of Silicon Laboratories worth $12,261,000 as of its most recent SEC filing.

Several other institutional investors have also recently modified their holdings of the company. Oddo BHF Asset Management Sas bought a new position in Silicon Laboratories during the 3rd quarter worth approximately $694,000. Franklin Resources Inc. grew its position in Silicon Laboratories by 1.9% during the 3rd quarter. Franklin Resources Inc. now owns 231,889 shares of the semiconductor company's stock worth $27,001,000 after acquiring an additional 4,278 shares during the last quarter. Tidal Investments LLC bought a new position in Silicon Laboratories during the 3rd quarter worth approximately $520,000. Geode Capital Management LLC grew its position in Silicon Laboratories by 2.1% during the 3rd quarter. Geode Capital Management LLC now owns 781,049 shares of the semiconductor company's stock worth $90,282,000 after acquiring an additional 15,728 shares during the last quarter. Finally, Barclays PLC grew its position in Silicon Laboratories by 23.4% during the 3rd quarter. Barclays PLC now owns 70,568 shares of the semiconductor company's stock worth $8,157,000 after acquiring an additional 13,363 shares during the last quarter.

Analyst Ratings Changes

SLAB has been the topic of several recent research reports. KeyCorp reduced their price target on Silicon Laboratories from $150.00 to $115.00 and set an "overweight" rating on the stock in a research report on Tuesday, November 5th. Barclays cut their price objective on Silicon Laboratories from $120.00 to $75.00 and set an "equal weight" rating on the stock in a research report on Tuesday, November 5th. Morgan Stanley cut their price objective on 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. Stifel Nicolaus lifted their price objective on Silicon Laboratories from $135.00 to $145.00 and gave the stock a "buy" rating in a research report on Monday, January 6th. Finally, Susquehanna assumed coverage on Silicon Laboratories in a research report on Tuesday, December 17th. They issued a "neutral" rating and a $130.00 price objective on the stock. One analyst has rated the stock with a sell rating, six have issued a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $123.56.

Silicon Laboratories Stock Performance

Shares of SLAB traded up $5.04 on Friday, reaching $133.09. The stock had a trading volume of 454,599 shares, compared to its average volume of 291,000. The firm has a market capitalization of $4.32 billion, a price-to-earnings ratio of -17.99 and a beta of 1.17. The company has a 50-day simple moving average of $117.64 and a 200-day simple moving average of $114.08. 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, beating analysts' consensus estimates of ($0.20) by $0.07. The business had revenue of $166.00 million during the quarter, compared to analysts' expectations of $165.50 million. Silicon Laboratories had a negative return on equity of 12.60% and a negative net margin of 46.93%. The firm's quarterly revenue 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. On average, analysts expect that Silicon Laboratories Inc. will post -3.56 EPS for the current fiscal year.

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.