Tidal Investments LLC Purchases New Position in Silicon Laboratories Inc. (NASDAQ:SLAB)

Tidal Investments LLC purchased a new position in Silicon Laboratories Inc. (NASDAQ:SLAB - Free Report) in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 4,496 shares of the semiconductor company's stock, valued at approximately $520,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in SLAB. Point72 Asset Management L.P. purchased a new position in shares of Silicon Laboratories during the 3rd quarter valued at $7,408,000. Intech Investment Management LLC grew its stake in Silicon Laboratories by 82.9% in the third quarter. Intech Investment Management LLC now owns 12,837 shares of the semiconductor company's stock valued at $1,484,000 after purchasing an additional 5,818 shares in the last quarter. Barclays PLC raised its stake in shares of Silicon Laboratories by 23.4% during the 3rd quarter. Barclays PLC now owns 70,568 shares of the semiconductor company's stock worth $8,157,000 after purchasing an additional 13,363 shares in the last quarter. Clearbridge Investments LLC lifted its holdings in shares of Silicon Laboratories by 84.0% during the 2nd quarter. Clearbridge Investments LLC now owns 273,776 shares of the semiconductor company's stock valued at $30,288,000 after buying an additional 125,022 shares during the last quarter. Finally, Premier Fund Managers Ltd bought a new stake in shares of Silicon Laboratories in the 3rd quarter valued at approximately $934,000.

Silicon Laboratories Trading Up 1.2 %

Shares of Silicon Laboratories stock traded up $1.47 during midday trading on Monday, reaching $126.47. The company had a trading volume of 282,669 shares, compared to its average volume of 301,490. The stock has a fifty day simple moving average of $113.22 and a 200 day simple moving average of $112.90. Silicon Laboratories Inc. has a 1-year low of $94.00 and a 1-year high of $154.91. The company has a market capitalization of $4.10 billion, a price-to-earnings ratio of -17.09 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 for the quarter, topping analysts' consensus estimates of ($0.20) by $0.07. The company had revenue of $166.00 million during the quarter, compared to the consensus estimate 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 quarter in the previous year, the company posted $0.48 earnings per share. Sell-side analysts expect that Silicon Laboratories Inc. will post -3.56 earnings per share for the current year.

Analyst Upgrades and Downgrades

SLAB has been the topic of several analyst reports. StockNews.com upgraded shares of Silicon Laboratories to a "sell" rating in a research note on Friday, November 8th. Benchmark restated a "hold" rating on shares of Silicon Laboratories in a report on Tuesday, November 5th. Barclays lowered their price target on Silicon Laboratories from $120.00 to $75.00 and set an "equal weight" rating on the stock in a report on Tuesday, November 5th. 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 note on Tuesday, November 5th. Finally, KeyCorp lowered their target price 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 investment analyst has rated the stock with a sell rating, six have issued a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $122.44.

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.