64,103 Shares in Silicon Laboratories Inc. (NASDAQ:SLAB) Bought by Point72 Asset Management L.P.

Point72 Asset Management L.P. bought a new position in shares of Silicon Laboratories Inc. (NASDAQ:SLAB - Free Report) in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 64,103 shares of the semiconductor company's stock, valued at approximately $7,408,000. Point72 Asset Management L.P. owned about 0.20% of Silicon Laboratories as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. Cullen Frost Bankers Inc. bought a new position in Silicon Laboratories during the 2nd quarter worth $28,000. Advisors Asset Management Inc. grew its stake in shares of Silicon Laboratories by 159.4% in the third quarter. Advisors Asset Management Inc. now owns 275 shares of the semiconductor company's stock valued at $32,000 after acquiring an additional 169 shares in the last quarter. GAMMA Investing LLC increased its position in Silicon Laboratories by 84.1% during the third quarter. GAMMA Investing LLC now owns 497 shares of the semiconductor company's stock worth $57,000 after acquiring an additional 227 shares during the period. Daiwa Securities Group Inc. acquired a new stake in Silicon Laboratories in the 2nd quarter worth about $60,000. Finally, Migdal Insurance & Financial Holdings Ltd. bought a new stake in Silicon Laboratories in the 2nd quarter valued at about $82,000.

Analysts Set New Price Targets

Several brokerages have recently commented on SLAB. JPMorgan Chase & Co. lowered their target price on shares of Silicon Laboratories from $150.00 to $135.00 and set an "overweight" rating on the stock in a report on Tuesday, November 5th. KeyCorp lowered their price objective 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 reduced their target price on Silicon Laboratories from $123.00 to $97.00 and set an "equal weight" rating on the stock in a report on Tuesday, November 5th. StockNews.com raised Silicon Laboratories to a "sell" rating in a research note on Friday, November 8th. Finally, Stifel Nicolaus reduced their price objective on shares of Silicon Laboratories from $160.00 to $135.00 and set a "buy" rating on the stock in a research note on Tuesday, November 5th. One research 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. According to data from MarketBeat, Silicon Laboratories presently has a consensus rating of "Hold" and an average target price of $121.50.

Silicon Laboratories Stock Up 6.0 %

Shares of SLAB stock traded up $6.64 on Friday, reaching $116.41. The company had a trading volume of 245,336 shares, compared to its average volume of 276,080. The business's 50-day moving average is $110.76 and its 200 day moving average is $112.77. Silicon Laboratories Inc. has a one year low of $94.00 and a one year high of $154.91. The stock has a market capitalization of $3.78 billion, a PE ratio of -15.73 and a beta of 1.21.

Silicon Laboratories (NASDAQ:SLAB - Get Free Report) last issued its quarterly earnings data on Monday, November 4th. The semiconductor company reported ($0.13) 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 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 firm's revenue was down 18.5% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.48 EPS. On average, sell-side analysts forecast that Silicon Laboratories Inc. will post -3.56 earnings per share 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.