Fmr LLC Buys 54,708 Shares of Silicon Laboratories Inc. (NASDAQ:SLAB)

Fmr LLC grew its holdings in Silicon Laboratories Inc. (NASDAQ:SLAB) by 1.1% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 4,843,370 shares of the semiconductor company’s stock after acquiring an additional 54,708 shares during the quarter. Fmr LLC owned 0.15% of Silicon Laboratories worth $559,748,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in SLAB. Clearbridge Investments LLC boosted its holdings in Silicon Laboratories by 84.0% in the second quarter. Clearbridge Investments LLC now owns 273,776 shares of the semiconductor company’s stock worth $30,288,000 after acquiring an additional 125,022 shares in the last quarter. American Century Companies Inc. boosted its holdings in Silicon Laboratories by 29.5% in the second quarter. American Century Companies Inc. now owns 316,407 shares of the semiconductor company’s stock worth $35,004,000 after acquiring an additional 72,138 shares in the last quarter. Van Berkom & Associates Inc. boosted its holdings in Silicon Laboratories by 8.4% in the second quarter. Van Berkom & Associates Inc. now owns 609,232 shares of the semiconductor company’s stock worth $67,399,000 after acquiring an additional 47,058 shares in the last quarter. Davidson Investment Advisors boosted its holdings in Silicon Laboratories by 36.7% in the second quarter. Davidson Investment Advisors now owns 131,453 shares of the semiconductor company’s stock worth $14,543,000 after acquiring an additional 35,317 shares in the last quarter. Finally, Schwartz Investment Counsel Inc. boosted its holdings in Silicon Laboratories by 17.9% in the third quarter. Schwartz Investment Counsel Inc. now owns 230,000 shares of the semiconductor company’s stock worth $26,581,000 after acquiring an additional 35,000 shares in the last quarter.

Insider Transactions at Silicon Laboratories

In other Silicon Laboratories news, SVP Brandon Tolany sold 845 shares of the business’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $115.00, for a total transaction of $97,175.00. Following the transaction, the senior vice president now owns 43,615 shares of the company’s stock, 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 is accessible through the SEC website. Corporate insiders own 1.72% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently issued reports on SLAB shares. Morgan Stanley reduced their price objective on Silicon Laboratories from $123.00 to $97.00 and set an “equal weight” rating for the company in a research note on Tuesday, November 5th. KeyCorp reduced their price objective on Silicon Laboratories from $150.00 to $115.00 and set an “overweight” rating for the company 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. Benchmark reiterated a “hold” rating on shares of Silicon Laboratories in a research report on Tuesday, November 5th. Finally, Barclays reduced their price target on Silicon Laboratories from $120.00 to $75.00 and set an “equal weight” rating for the company in a research report on Tuesday, November 5th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, Silicon Laboratories has a consensus rating of “Hold” and an average price target of $121.50.

Silicon Laboratories Price Performance

Shares of NASDAQ:SLAB opened at $108.78 on Friday. The business’s 50 day moving average price is $111.05 and its 200-day moving average price is $113.75. The firm has a market capitalization of $3.53 billion, a PE ratio of -14.70 and a beta of 1.20. Silicon Laboratories Inc. has a 1 year low of $94.00 and a 1 year high of $154.91.

Silicon Laboratories (NASDAQ:SLAB) last issued its quarterly 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. The firm had revenue of $166.00 million for 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%. The business’s revenue was down 18.5% on a year-over-year basis. During the same period in the previous year, the company posted $0.48 earnings per share. As a group, analysts expect that Silicon Laboratories Inc. will post -3.56 earnings per share for the current year.

Silicon Laboratories Company 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.