Wellington Management Group LLP Acquires 195,997 Shares of Silicon Laboratories Inc. (NASDAQ:SLAB)

Wellington Management Group LLP lifted its stake in Silicon Laboratories Inc. (NASDAQ:SLAB - Free Report) by 28.3% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 888,382 shares of the semiconductor company's stock after purchasing an additional 195,997 shares during the period. Wellington Management Group LLP owned 2.74% of Silicon Laboratories worth $102,670,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. SG Americas Securities LLC increased its position in shares of Silicon Laboratories by 284.6% in the second quarter. SG Americas Securities LLC now owns 7,076 shares of the semiconductor company's stock valued at $783,000 after acquiring an additional 5,236 shares during the last quarter. Envestnet Portfolio Solutions Inc. boosted its stake in Silicon Laboratories by 37.0% in the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 8,187 shares of the semiconductor company's stock valued at $906,000 after purchasing an additional 2,210 shares during the period. Leeward Investments LLC MA lifted its holdings in shares of Silicon Laboratories by 5.6% during the second quarter. Leeward Investments LLC MA now owns 89,467 shares of the semiconductor company's stock worth $9,898,000 after buying an additional 4,762 shares in the last quarter. Nisa Investment Advisors LLC boosted its position in shares of Silicon Laboratories by 16.5% in the second quarter. Nisa Investment Advisors LLC now owns 4,425 shares of the semiconductor company's stock valued at $490,000 after acquiring an additional 626 shares during the period. Finally, Bank of New York Mellon Corp grew its stake in shares of Silicon Laboratories by 10.2% in the second quarter. Bank of New York Mellon Corp now owns 358,994 shares of the semiconductor company's stock valued at $39,715,000 after acquiring an additional 33,210 shares in the last quarter.

Wall Street Analyst Weigh In

A number of analysts have issued reports on SLAB shares. Barclays cut their price objective on shares of Silicon Laboratories from $120.00 to $75.00 and set an "equal weight" rating for the company in a report on Tuesday, November 5th. Stifel Nicolaus decreased their price target on Silicon Laboratories from $160.00 to $135.00 and set a "buy" rating on the stock 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. StockNews.com upgraded Silicon Laboratories to a "sell" rating in a research note on Friday, November 8th. Finally, JPMorgan Chase & Co. dropped 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. One analyst has rated the stock with a sell rating, five have given a hold rating and five have given a buy rating to the company. According to MarketBeat, the company presently has an average rating of "Hold" and an average target price of $121.50.

Silicon Laboratories Stock Down 0.7 %

NASDAQ SLAB traded down $0.87 on Tuesday, hitting $123.43. The company's stock had a trading volume of 321,220 shares, compared to its average volume of 298,690. The company's 50-day moving average is $110.94 and its 200 day moving average is $112.77. The firm has a market cap of $4.01 billion, a PE ratio of -16.80 and a beta of 1.21. Silicon Laboratories Inc. has a 1-year low of $94.00 and a 1-year high of $154.91.

Silicon Laboratories (NASDAQ:SLAB - Get Free Report) last announced its earnings results on Monday, November 4th. The semiconductor company reported ($0.13) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.20) by $0.07. The business had revenue of $166.00 million during the quarter, compared to analyst estimates of $165.50 million. Silicon Laboratories had a negative return on equity of 12.60% and a negative net margin of 46.93%. Silicon Laboratories's revenue for the quarter was down 18.5% compared to the same quarter last year. During the same period last year, the company earned $0.48 EPS. On average, equities analysts expect that Silicon Laboratories Inc. will post -3.56 EPS for the current 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.