State Street Corp Cuts Holdings in Silicon Laboratories Inc. (NASDAQ:SLAB)

State Street Corp trimmed its position in Silicon Laboratories Inc. (NASDAQ:SLAB - Free Report) by 2.7% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,565,054 shares of the semiconductor company's stock after selling 43,498 shares during the quarter. State Street Corp owned approximately 4.82% of Silicon Laboratories worth $180,873,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of SLAB. Cullen Frost Bankers Inc. acquired a new stake in Silicon Laboratories in the second quarter valued at $28,000. Advisors Asset Management Inc. raised its position 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 worth $32,000 after acquiring an additional 169 shares in the last quarter. GAMMA Investing LLC lifted 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 worth $57,000 after purchasing an additional 227 shares during the last quarter. Daiwa Securities Group Inc. acquired a new position in Silicon Laboratories in the second quarter valued at approximately $60,000. Finally, Migdal Insurance & Financial Holdings Ltd. acquired a new position in Silicon Laboratories in the second quarter valued at approximately $82,000.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on SLAB. Stifel Nicolaus reduced their price objective on shares of Silicon Laboratories from $160.00 to $135.00 and set a "buy" rating for the company in a research report on Tuesday, November 5th. Morgan Stanley reduced their price target on shares of Silicon Laboratories from $123.00 to $97.00 and set an "equal weight" rating for the company in a research report on Tuesday, November 5th. JPMorgan Chase & Co. dropped their price objective on Silicon Laboratories from $150.00 to $135.00 and set an "overweight" rating on the stock in a report on Tuesday, November 5th. KeyCorp reduced their target price on Silicon Laboratories from $150.00 to $115.00 and set an "overweight" rating for the company in a report on Tuesday, November 5th. Finally, Benchmark reissued a "hold" rating on shares of Silicon Laboratories in a research report on Tuesday, November 5th. One research analyst has rated the stock with a sell rating, five have given a hold rating and five have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $121.50.

Silicon Laboratories Stock Down 0.3 %

SLAB traded down $0.43 on Friday, hitting $128.20. 338,943 shares of the company traded hands, compared to its average volume of 298,802. Silicon Laboratories Inc. has a 12-month low of $94.00 and a 12-month high of $154.91. The company has a 50 day moving average of $111.96 and a 200-day moving average of $112.97. The stock has a market capitalization of $4.16 billion, a PE ratio of -17.32 and a beta of 1.21.

Silicon Laboratories (NASDAQ:SLAB - Get Free Report) last released its earnings results on Monday, November 4th. The semiconductor company reported ($0.13) earnings per share (EPS) 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 analyst estimates of $165.50 million. During the same quarter in the previous year, the company posted $0.48 earnings per share. The company's revenue for the quarter was down 18.5% compared to the same quarter last year. On average, research analysts anticipate that Silicon Laboratories Inc. will post -3.56 EPS for the current year.

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.