Silicon Laboratories Inc. (NASDAQ:SLAB) Holdings Boosted by Thrivent Financial for Lutherans

Thrivent Financial for Lutherans lifted its holdings in Silicon Laboratories Inc. (NASDAQ:SLAB - Free Report) by 10.4% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 131,548 shares of the semiconductor company's stock after buying an additional 12,435 shares during the period. Thrivent Financial for Lutherans owned approximately 0.41% of Silicon Laboratories worth $15,203,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Vanguard Group Inc. increased its position in Silicon Laboratories by 0.7% during the first quarter. Vanguard Group Inc. now owns 3,489,160 shares of the semiconductor company's stock worth $501,462,000 after purchasing an additional 24,997 shares during the last quarter. Natixis acquired a new stake in shares of Silicon Laboratories during the first quarter valued at about $647,000. Capital Research Global Investors increased its position in shares of Silicon Laboratories by 29.9% during the first quarter. Capital Research Global Investors now owns 1,217,939 shares of the semiconductor company's stock valued at $175,042,000 after acquiring an additional 280,000 shares during the last quarter. Lazard Asset Management LLC acquired a new stake in shares of Silicon Laboratories during the first quarter valued at about $103,000. Finally, Silvercrest Asset Management Group LLC increased its position in shares of Silicon Laboratories by 0.3% during the first quarter. Silvercrest Asset Management Group LLC now owns 100,910 shares of the semiconductor company's stock valued at $14,503,000 after acquiring an additional 332 shares during the last quarter.

Silicon Laboratories Trading Up 1.9 %

NASDAQ SLAB traded up $1.89 during trading hours on Thursday, reaching $103.44. The company's stock had a trading volume of 173,743 shares, compared to its average volume of 298,010. The business has a 50-day simple moving average of $111.22 and a 200 day simple moving average of $114.32. Silicon Laboratories Inc. has a 52 week low of $94.00 and a 52 week high of $154.91. The stock has a market cap of $3.36 billion, a PE ratio of -13.98 and a beta of 1.20.

Silicon Laboratories (NASDAQ:SLAB - Get Free Report) last issued its earnings results 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 firm had revenue of $166.00 million for the quarter, compared to analysts' expectations of $165.50 million. During the same quarter last year, the company posted $0.48 earnings per share. Silicon Laboratories's revenue was down 18.5% on a year-over-year basis. As a group, equities analysts predict that Silicon Laboratories Inc. will post -3.56 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the stock. JPMorgan Chase & Co. dropped their price target on shares of Silicon Laboratories from $150.00 to $135.00 and set an "overweight" rating for the company in a research report on Tuesday, November 5th. StockNews.com upgraded shares of Silicon Laboratories to a "sell" rating in a research note on Friday, November 8th. KeyCorp reduced their price target on shares of Silicon Laboratories from $150.00 to $115.00 and set an "overweight" rating for the company in a research report on Tuesday, November 5th. Benchmark reissued a "hold" rating on shares of Silicon Laboratories in a research note on Tuesday, November 5th. Finally, Needham & Company LLC reaffirmed a "buy" rating and set a $150.00 price target on shares of Silicon Laboratories in a research note on Thursday, July 25th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and five have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $121.50.

Insider Activity

In other Silicon Laboratories news, SVP Brandon Tolany sold 845 shares of Silicon Laboratories stock in a transaction that occurred 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 transaction, the senior vice president now owns 43,615 shares in the company, valued at approximately $5,015,725. The trade was a 1.90 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 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.