Inspire Investing LLC Raises Stake in Silicon Laboratories Inc. (NASDAQ:SLAB)

Inspire Investing LLC raised its position in Silicon Laboratories Inc. (NASDAQ:SLAB) by 26.2% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 3,175 shares of the semiconductor company’s stock after acquiring an additional 659 shares during the quarter. Inspire Investing LLC’s holdings in Silicon Laboratories were worth $351,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in SLAB. Cullen Frost Bankers Inc. purchased a new position in Silicon Laboratories in the second quarter worth approximately $28,000. Fidelis Capital Partners LLC purchased a new position in Silicon Laboratories in the first quarter worth approximately $55,000. Daiwa Securities Group Inc. purchased a new position in Silicon Laboratories in the second quarter worth approximately $60,000. Mather Group LLC. purchased a new position in Silicon Laboratories in the first quarter worth approximately $63,000. Finally, Migdal Insurance & Financial Holdings Ltd. purchased a new position in Silicon Laboratories in the second quarter worth approximately $82,000.

Silicon Laboratories Price Performance

SLAB stock opened at $111.36 on Tuesday. The company has a fifty day moving average price of $110.61 and a 200 day moving average price of $119.84. Silicon Laboratories Inc. has a 12 month low of $74.56 and a 12 month high of $154.91. The company has a market cap of $3.56 billion, a price-to-earnings ratio of -33.64 and a beta of 1.19.

Silicon Laboratories (NASDAQ:SLAB) last released its quarterly earnings results on Wednesday, July 24th. The semiconductor company reported ($0.56) EPS for the quarter, beating the consensus estimate of ($0.64) by $0.08. Silicon Laboratories had a negative net margin of 36.53% and a negative return on equity of 9.13%. The firm had revenue of $145.40 million during the quarter, compared to the consensus estimate of $140.18 million. During the same quarter in the prior year, the firm earned $0.59 EPS. Silicon Laboratories’s revenue for the quarter was down 40.6% on a year-over-year basis. As a group, analysts anticipate that Silicon Laboratories Inc. will post -3.41 earnings per share for the current year.

Wall Street Analyst Weigh In

SLAB has been the subject of several recent analyst reports. StockNews.com upgraded shares of Silicon Laboratories to a “sell” rating in a research report on Tuesday, July 23rd. Needham & Company LLC restated a “buy” rating and set a $150.00 price objective on shares of Silicon Laboratories in a research report on Thursday, July 25th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $135.00.

Insider Buying and Selling 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 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 directly owns 43,615 shares of the company’s stock, valued at approximately $5,015,725. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 1.72% of the stock is currently owned by corporate insiders.

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.