Charles Schwab Investment Management Inc. Sells 63,681 Shares of Silicon Laboratories Inc. (NASDAQ:SLAB)

Charles Schwab Investment Management Inc. trimmed its position in Silicon Laboratories Inc. (NASDAQ:SLAB - Free Report) by 13.2% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 417,805 shares of the semiconductor company's stock after selling 63,681 shares during the quarter. Charles Schwab Investment Management Inc. owned 1.29% of Silicon Laboratories worth $48,286,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in SLAB. Harbor Capital Advisors Inc. grew its stake in shares of Silicon Laboratories by 8.5% during the second quarter. Harbor Capital Advisors Inc. now owns 1,292 shares of the semiconductor company's stock worth $143,000 after buying an additional 101 shares during the last quarter. Victory Capital Management Inc. grew its stake in shares of Silicon Laboratories by 2.3% in the second quarter. Victory Capital Management Inc. now owns 6,638 shares of the semiconductor company's stock worth $734,000 after purchasing an additional 150 shares during the last quarter. 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 worth $32,000 after purchasing an additional 169 shares during the last quarter. Arizona State Retirement System grew its stake in shares of 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 purchasing an additional 202 shares during the last quarter. Finally, GAMMA Investing LLC grew its stake in shares of Silicon Laboratories by 84.1% in the third quarter. GAMMA Investing LLC now owns 497 shares of the semiconductor company's stock worth $57,000 after purchasing an additional 227 shares during the last quarter.

Insider Activity

In other news, SVP Brandon Tolany sold 845 shares of the 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 transaction, 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 1.72% of the company's stock.

Silicon Laboratories Stock Performance

Shares of NASDAQ SLAB traded up $4.75 during trading on Monday, hitting $115.40. 259,893 shares of the company traded hands, compared to its average volume of 297,935. Silicon Laboratories Inc. has a fifty-two week low of $94.00 and a fifty-two week high of $154.91. The firm has a market capitalization of $3.74 billion, a price-to-earnings ratio of -14.95 and a beta of 1.20. The business's fifty day moving average is $110.92 and its 200 day moving average is $113.35.

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 (EPS) for the quarter, topping 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 during the quarter, compared to the consensus estimate of $165.50 million. During the same period in the prior year, the firm posted $0.48 EPS. The firm's quarterly revenue was down 18.5% compared to the same quarter last year. On average, analysts predict that Silicon Laboratories Inc. will post -3.56 EPS for the current year.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the stock. Barclays reduced their price objective on shares of Silicon Laboratories from $120.00 to $75.00 and set an "equal weight" rating on the stock in a research note on Tuesday, November 5th. JPMorgan Chase & Co. reduced their price objective on shares of Silicon Laboratories from $150.00 to $135.00 and set an "overweight" rating on the stock in a research note on Tuesday, November 5th. KeyCorp dropped their target price on shares of Silicon Laboratories from $150.00 to $115.00 and set an "overweight" rating on the stock in a report on Tuesday, November 5th. Morgan Stanley dropped their target price 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. Finally, Stifel Nicolaus dropped their target price on shares of Silicon Laboratories from $160.00 to $135.00 and set a "buy" rating on the stock in a report 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 company. According to data from MarketBeat, the company presently has an average rating of "Hold" and an average price target of $121.50.

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.