8,008 Shares in Silicon Laboratories Inc. (NASDAQ:SLAB) Acquired by Premier Fund Managers Ltd

Premier Fund Managers Ltd purchased a new stake in shares of Silicon Laboratories Inc. (NASDAQ:SLAB - Free Report) in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 8,008 shares of the semiconductor company's stock, valued at approximately $934,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Cullen Frost Bankers Inc. acquired a new stake in Silicon Laboratories in the 2nd quarter worth $28,000. GAMMA Investing LLC increased its stake in Silicon Laboratories by 84.1% during the third quarter. GAMMA Investing LLC now owns 497 shares of the semiconductor company's stock valued at $57,000 after acquiring an additional 227 shares during the period. Daiwa Securities Group Inc. acquired a new position in Silicon Laboratories in the 2nd quarter valued at approximately $60,000. Migdal Insurance & Financial Holdings Ltd. bought a new stake in shares of Silicon Laboratories in the 2nd quarter worth approximately $82,000. Finally, International Assets Investment Management LLC increased its position in shares of Silicon Laboratories by 11,457.1% during the third quarter. International Assets Investment Management LLC now owns 809 shares of the semiconductor company's stock valued at $93,000 after purchasing an additional 802 shares during the period.

Silicon Laboratories Trading Up 1.1 %

NASDAQ SLAB traded up $1.13 on Wednesday, hitting $99.53. 81,824 shares of the company were exchanged, compared to its average volume of 297,745. Silicon Laboratories Inc. has a 1-year low of $94.00 and a 1-year high of $154.91. The firm has a 50 day moving average of $111.42 and a two-hundred day moving average of $114.48. The company has a market cap of $3.23 billion, a P/E ratio of -13.30 and a beta of 1.20.

Silicon Laboratories (NASDAQ:SLAB - Get Free Report) last released its quarterly earnings results on Monday, November 4th. The semiconductor company reported ($0.13) EPS for the quarter, beating the consensus estimate 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 period in the prior year, the firm earned $0.48 earnings per share. Silicon Laboratories's revenue was down 18.5% compared to the same quarter last year. Research analysts anticipate that Silicon Laboratories Inc. will post -3.56 EPS for the current fiscal year.

Insider Activity

In other news, SVP Brandon Tolany sold 845 shares of Silicon Laboratories stock in a transaction that occurred on 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 sale, the senior vice president now owns 43,615 shares in the company, valued at $5,015,725. The trade was a 1.90 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders own 1.72% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages recently commented on SLAB. Benchmark reaffirmed a "hold" rating on shares of Silicon Laboratories in a research report on Tuesday, November 5th. Stifel Nicolaus lowered their target price 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. KeyCorp cut their price target on shares of Silicon Laboratories from $150.00 to $115.00 and set an "overweight" rating for the company in a research note on Tuesday, November 5th. Morgan Stanley dropped their target price on Silicon Laboratories from $123.00 to $97.00 and set an "equal weight" rating for the company in a report on Tuesday, November 5th. Finally, StockNews.com upgraded 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 assigned a hold rating and five have given a buy rating to the company's stock. According to MarketBeat, Silicon Laboratories presently has an average 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.