Silicon Laboratories Inc. (NASDAQ:SLAB) Shares Purchased by Royce & Associates LP

Royce & Associates LP increased its holdings in Silicon Laboratories Inc. (NASDAQ:SLAB) by 19.5% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 24,500 shares of the semiconductor company’s stock after buying an additional 4,000 shares during the quarter. Royce & Associates LP’s holdings in Silicon Laboratories were worth $2,831,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Zions Bancorporation N.A. increased its stake in shares of Silicon Laboratories by 18.8% in the third quarter. Zions Bancorporation N.A. now owns 11,962 shares of the semiconductor company’s stock worth $1,382,000 after acquiring an additional 1,889 shares during the period. Pier 88 Investment Partners LLC grew its position in Silicon Laboratories by 21.8% during the 3rd quarter. Pier 88 Investment Partners LLC now owns 5,872 shares of the semiconductor company’s stock worth $679,000 after purchasing an additional 1,050 shares during the period. State of New Jersey Common Pension Fund D raised its stake in shares of Silicon Laboratories by 9.7% during the 3rd quarter. State of New Jersey Common Pension Fund D now owns 16,716 shares of the semiconductor company’s stock valued at $1,932,000 after buying an additional 1,474 shares during the last quarter. Emerald Advisers LLC acquired a new position in shares of Silicon Laboratories in the 3rd quarter valued at about $1,177,000. Finally, Van ECK Associates Corp purchased a new stake in shares of Silicon Laboratories in the third quarter worth about $189,000.

Silicon Laboratories Trading Up 0.2 %

NASDAQ:SLAB opened at $100.71 on Tuesday. The stock has a 50 day moving average of $111.58 and a two-hundred day moving average of $114.65. Silicon Laboratories Inc. has a 12 month low of $94.00 and a 12 month high of $154.91. The firm has a market cap of $3.27 billion, a P/E ratio of -13.61 and a beta of 1.20.

Silicon Laboratories (NASDAQ:SLAB) last issued its quarterly earnings results on Monday, November 4th. The semiconductor company reported ($0.13) EPS for the quarter, topping the consensus estimate of ($0.20) by $0.07. The firm had revenue of $166.00 million during the quarter, compared to analysts’ expectations 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 revenue for the quarter was down 18.5% on a year-over-year basis. During the same period in the previous year, the business earned $0.48 earnings per share. On average, research analysts forecast that Silicon Laboratories Inc. will post -3.56 earnings per share for the current year.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on SLAB. StockNews.com upgraded Silicon Laboratories to a “sell” rating in a research report on Friday, November 8th. JPMorgan Chase & Co. decreased their target price on shares of Silicon Laboratories from $150.00 to $135.00 and set an “overweight” rating for the company in a research note on Tuesday, November 5th. Needham & Company LLC restated a “buy” rating and set a $150.00 price target on shares of Silicon Laboratories in a research report on Thursday, July 25th. Morgan Stanley lowered their target price on shares of Silicon Laboratories from $123.00 to $97.00 and set an “equal weight” rating on the stock in a research note on Tuesday, November 5th. Finally, KeyCorp cut their price target 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. One analyst has rated the stock with a sell rating, five have given a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $121.50.

Insider Transactions at Silicon Laboratories

In related news, SVP Brandon Tolany sold 845 shares of the stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $115.00, for a total value of $97,175.00. Following the completion of the sale, the senior vice president now owns 43,615 shares of the company’s stock, valued at approximately $5,015,725. This trade represents a 1.90 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 1.72% of the company’s stock.

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.