Principal Financial Group Inc. Has $8.74 Million Holdings in Silicon Laboratories Inc. (NASDAQ:SLAB)

Principal Financial Group Inc. decreased its position in shares of Silicon Laboratories Inc. (NASDAQ:SLAB - Free Report) by 30.1% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 75,664 shares of the semiconductor company's stock after selling 32,550 shares during the quarter. Principal Financial Group Inc. owned about 0.23% of Silicon Laboratories worth $8,744,000 as of its most recent filing with the SEC.

Other hedge funds have also recently bought and sold shares of the company. Harbor Capital Advisors Inc. raised its stake in Silicon Laboratories by 8.5% during the 2nd quarter. Harbor Capital Advisors Inc. now owns 1,292 shares of the semiconductor company's stock valued at $143,000 after acquiring an additional 101 shares in the last quarter. Orion Portfolio Solutions LLC raised its holdings in shares of Silicon Laboratories by 1.1% in the 1st quarter. Orion Portfolio Solutions LLC now owns 9,858 shares of the semiconductor company's stock worth $1,417,000 after purchasing an additional 103 shares in the last quarter. Victory Capital Management Inc. boosted its holdings in Silicon Laboratories by 2.3% during the second quarter. Victory Capital Management Inc. now owns 6,638 shares of the semiconductor company's stock worth $734,000 after buying an additional 150 shares in the last quarter. Arizona State Retirement System grew its position in Silicon Laboratories by 2.3% in the second quarter. Arizona State Retirement System now owns 8,936 shares of the semiconductor company's stock worth $989,000 after buying an additional 202 shares during the last quarter. Finally, GAMMA Investing LLC lifted its position in shares of 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 acquiring an additional 227 shares during the last quarter.

Analyst Ratings Changes

SLAB has been the topic of a number of recent analyst reports. Benchmark reaffirmed a "hold" rating on shares of Silicon Laboratories in a research report on Tuesday, November 5th. JPMorgan Chase & Co. decreased their target price on shares of Silicon Laboratories from $150.00 to $135.00 and set an "overweight" rating for the company in a report on Tuesday, November 5th. Morgan Stanley cut 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 report on Tuesday, November 5th. KeyCorp lowered their price objective 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, Stifel Nicolaus reduced their target price on Silicon Laboratories from $160.00 to $135.00 and set a "buy" rating for the company in a report on Tuesday, November 5th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $121.50.

Silicon Laboratories Price Performance

NASDAQ:SLAB traded down $2.51 during trading hours on Tuesday, reaching $98.20. The company's stock had a trading volume of 51,460 shares, compared to its average volume of 298,220. The company has a market cap of $3.19 billion, a price-to-earnings ratio of -13.42 and a beta of 1.20. Silicon Laboratories Inc. has a one year low of $94.00 and a one year high of $154.91. The business's 50-day moving average is $111.58 and its 200-day moving average is $114.65.

Silicon Laboratories (NASDAQ:SLAB - Get Free Report) last issued its quarterly earnings data on Monday, November 4th. The semiconductor company reported ($0.13) earnings per share for the quarter, beating analysts' consensus estimates of ($0.20) by $0.07. Silicon Laboratories had a negative return on equity of 12.60% and a negative net margin of 46.93%. The business had revenue of $166.00 million for the quarter, compared to the consensus estimate of $165.50 million. During the same period last year, the business earned $0.48 EPS. The firm's revenue was down 18.5% compared to the same quarter last year. On average, sell-side analysts predict that Silicon Laboratories Inc. will post -3.56 EPS for the current fiscal year.

Insider Buying and Selling at Silicon Laboratories

In other Silicon Laboratories news, SVP Brandon Tolany sold 845 shares of the stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $115.00, for a total value of $97,175.00. Following the completion of the sale, the senior vice president now directly owns 43,615 shares of the company's stock, valued at $5,015,725. This represents a 1.90 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 1.72% of the company's stock.

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.