BNP Paribas Financial Markets Trims Position in Silicon Laboratories Inc. (NASDAQ:SLAB)

BNP Paribas Financial Markets trimmed its position in Silicon Laboratories Inc. (NASDAQ:SLAB - Free Report) by 32.2% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 24,218 shares of the semiconductor company's stock after selling 11,488 shares during the quarter. BNP Paribas Financial Markets owned 0.07% of Silicon Laboratories worth $2,799,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Cullen Frost Bankers Inc. bought a new stake in shares of Silicon Laboratories in the 2nd quarter worth approximately $28,000. Advisors Asset Management Inc. boosted its stake in shares of Silicon Laboratories by 159.4% during the 3rd quarter. Advisors Asset Management Inc. now owns 275 shares of the semiconductor company's stock valued at $32,000 after purchasing an additional 169 shares in the last quarter. GAMMA Investing LLC increased its position in shares of 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 buying an additional 227 shares during the period. Daiwa Securities Group Inc. bought a new position in Silicon Laboratories in the second quarter worth about $60,000. Finally, Migdal Insurance & Financial Holdings Ltd. purchased a new stake in Silicon Laboratories in the second quarter worth about $82,000.

Wall Street Analysts Forecast Growth

SLAB has been the topic of a number of research analyst reports. Stifel Nicolaus reduced their target price on Silicon Laboratories from $160.00 to $135.00 and set a "buy" rating on the stock in a report on Tuesday, November 5th. Morgan Stanley reduced their price target on Silicon Laboratories from $123.00 to $97.00 and set an "equal weight" rating on the stock in a research note on Tuesday, November 5th. JPMorgan Chase & Co. lowered their price objective on Silicon Laboratories from $150.00 to $135.00 and set an "overweight" rating for the company in a research report on Tuesday, November 5th. Barclays decreased their price target on shares of Silicon Laboratories from $120.00 to $75.00 and set an "equal weight" rating for the company in a research note on Tuesday, November 5th. Finally, KeyCorp dropped 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 note on Tuesday, November 5th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and five have given a buy rating to the stock. According to MarketBeat, Silicon Laboratories has an average rating of "Hold" and a consensus target price of $121.50.

Silicon Laboratories Stock Up 6.0 %

Shares of NASDAQ SLAB traded up $6.64 during midday trading on Friday, hitting $116.41. The stock had a trading volume of 245,336 shares, compared to its average volume of 298,268. The business's 50 day moving average is $110.76 and its 200-day moving average is $113.09. Silicon Laboratories Inc. has a 52 week low of $94.00 and a 52 week high of $154.91. The company has a market cap of $3.78 billion, a P/E ratio of -15.59 and a beta of 1.21.

Silicon Laboratories (NASDAQ:SLAB - Get Free Report) last released its quarterly earnings data on Monday, November 4th. The semiconductor company reported ($0.13) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.20) by $0.07. The business had revenue of $166.00 million for 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% on a year-over-year basis. During the same period in the prior year, the firm posted $0.48 EPS. As a group, analysts expect that Silicon Laboratories Inc. will post -3.56 EPS 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.