Creative Planning Sells 494 Shares of Silicon Laboratories Inc. (NASDAQ:SLAB)

Creative Planning lessened its holdings in Silicon Laboratories Inc. (NASDAQ:SLAB) by 11.8% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 3,696 shares of the semiconductor company’s stock after selling 494 shares during the period. Creative Planning’s holdings in Silicon Laboratories were worth $409,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also added to or reduced their stakes in SLAB. Cullen Frost Bankers Inc. acquired a new position in Silicon Laboratories in the 2nd quarter valued at $28,000. Fidelis Capital Partners LLC bought a new position in Silicon Laboratories in the first quarter valued at about $55,000. Daiwa Securities Group Inc. bought a new position in Silicon Laboratories in the second quarter valued at about $60,000. Mather Group LLC. bought a new position in Silicon Laboratories in the first quarter valued at about $63,000. Finally, Migdal Insurance & Financial Holdings Ltd. bought a new position in Silicon Laboratories in the second quarter valued at about $82,000.

Analysts Set New Price Targets

SLAB has been the subject of a number of analyst reports. StockNews.com upgraded Silicon Laboratories to a “sell” rating in a research report on Tuesday, July 23rd. Needham & Company LLC reissued a “buy” rating and issued a $150.00 price objective on shares of Silicon Laboratories in a research note on Thursday, July 25th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $135.00.

Silicon Laboratories Stock Performance

Shares of Silicon Laboratories stock opened at $115.27 on Thursday. The stock has a market capitalization of $3.68 billion, a PE ratio of -34.82 and a beta of 1.19. Silicon Laboratories Inc. has a 52 week low of $74.56 and a 52 week high of $154.91. The stock has a 50 day moving average price of $111.18 and a two-hundred day moving average price of $117.29.

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

Insider Activity at Silicon Laboratories

In related news, SVP Brandon Tolany sold 845 shares of Silicon Laboratories stock in a transaction that occurred 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 $5,015,725. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 1.72% of the stock is owned by insiders.

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.