Barclays PLC Buys 13,363 Shares of Silicon Laboratories Inc. (NASDAQ:SLAB)

Barclays PLC boosted its holdings in Silicon Laboratories Inc. (NASDAQ:SLAB - Free Report) by 23.4% in the third quarter, according to its most recent filing with the SEC. The institutional investor owned 70,568 shares of the semiconductor company's stock after buying an additional 13,363 shares during the period. Barclays PLC owned 0.22% of Silicon Laboratories worth $8,157,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of the business. Wellington Management Group LLP grew its position in shares of Silicon Laboratories by 28.3% during the third quarter. Wellington Management Group LLP now owns 888,382 shares of the semiconductor company's stock worth $102,670,000 after purchasing an additional 195,997 shares in the last quarter. Clearbridge Investments LLC boosted its stake in Silicon Laboratories by 84.0% in the 2nd quarter. Clearbridge Investments LLC now owns 273,776 shares of the semiconductor company's stock worth $30,288,000 after purchasing an additional 125,022 shares during the period. American Century Companies Inc. grew its holdings in Silicon Laboratories by 29.5% during the 2nd quarter. American Century Companies Inc. now owns 316,407 shares of the semiconductor company's stock valued at $35,004,000 after buying an additional 72,138 shares in the last quarter. Point72 Asset Management L.P. bought a new stake in shares of Silicon Laboratories during the third quarter valued at approximately $7,408,000. Finally, FMR LLC lifted its holdings in shares of Silicon Laboratories by 1.1% in the third quarter. FMR LLC now owns 4,843,370 shares of the semiconductor company's stock worth $559,748,000 after buying an additional 54,708 shares in the last quarter.

Analysts Set New Price Targets

SLAB has been the subject of several research analyst reports. Susquehanna began coverage on shares of Silicon Laboratories in a research note on Tuesday. They set a "neutral" rating and a $130.00 target price for the company. Stifel Nicolaus cut their price objective on Silicon Laboratories from $160.00 to $135.00 and set a "buy" rating for the company in a research report on Tuesday, November 5th. Barclays decreased their target price 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. Benchmark restated a "hold" rating on shares of Silicon Laboratories in a report on Tuesday, November 5th. Finally, KeyCorp reduced 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. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, the company has an average rating of "Hold" and an average price target of $122.44.

Silicon Laboratories Price Performance

Shares of Silicon Laboratories stock traded down $6.14 on Wednesday, reaching $122.82. The company had a trading volume of 447,059 shares, compared to its average volume of 299,147. The firm has a market cap of $3.99 billion, a price-to-earnings ratio of -16.60 and a beta of 1.21. The firm's 50-day moving average price is $112.61 and its two-hundred day moving average price is $112.88. Silicon Laboratories Inc. has a 1 year low of $94.00 and a 1 year high of $154.91.

Silicon Laboratories (NASDAQ:SLAB - Get Free Report) last posted 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 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 business posted $0.48 earnings per share. The business's revenue was down 18.5% compared to the same quarter last year. As a group, analysts anticipate that Silicon Laboratories Inc. will post -3.56 EPS for the current 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.