State of New Jersey Common Pension Fund D Purchases 1,474 Shares of Silicon Laboratories Inc. (NASDAQ:SLAB)

State of New Jersey Common Pension Fund D lifted its stake in shares of Silicon Laboratories Inc. (NASDAQ:SLAB) by 9.7% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 16,716 shares of the semiconductor company’s stock after buying an additional 1,474 shares during the quarter. State of New Jersey Common Pension Fund D owned about 0.05% of Silicon Laboratories worth $1,932,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently modified their holdings of the company. CWM LLC grew its holdings in shares of Silicon Laboratories by 185.0% during the second quarter. CWM LLC now owns 8,435 shares of the semiconductor company’s stock valued at $933,000 after buying an additional 5,475 shares during the last quarter. Natixis purchased a new position in Silicon Laboratories during the first quarter valued at $647,000. Vanguard Group Inc. grew its stake in Silicon Laboratories by 0.7% during the first quarter. Vanguard Group Inc. now owns 3,489,160 shares of the semiconductor company’s stock valued at $501,462,000 after acquiring an additional 24,997 shares in the last quarter. SG Americas Securities LLC grew its stake in Silicon Laboratories by 284.6% during 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 in the last quarter. Finally, Russell Investments Group Ltd. grew its stake in Silicon Laboratories by 31.7% during the first quarter. Russell Investments Group Ltd. now owns 52,578 shares of the semiconductor company’s stock valued at $7,557,000 after acquiring an additional 12,667 shares in the last quarter.

Silicon Laboratories Stock Performance

SLAB opened at $100.47 on Monday. Silicon Laboratories Inc. has a 1 year low of $94.00 and a 1 year high of $154.91. The firm has a 50 day moving average price of $111.67 and a 200 day moving average price of $114.80. The company has a market cap of $3.26 billion, a PE ratio of -13.58 and a beta of 1.20.

Silicon Laboratories (NASDAQ:SLAB) last announced its quarterly earnings data 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 firm had revenue of $166.00 million for 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 last year, the business posted $0.48 earnings per share. On average, sell-side analysts predict that Silicon Laboratories Inc. will post -3.56 earnings per share for the current year.

Insider Buying and Selling

In other news, SVP Brandon Tolany sold 845 shares of Silicon Laboratories stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $115.00, for a total transaction of $97,175.00. Following the completion of the sale, the senior vice president now directly owns 43,615 shares in the company, valued at $5,015,725. The trade was a 1.90 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 1.72% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the stock. Stifel Nicolaus dropped their price objective on shares of Silicon Laboratories from $160.00 to $135.00 and set a “buy” rating for the company in a research note on Tuesday, November 5th. JPMorgan Chase & Co. lowered their target price on shares of Silicon Laboratories from $150.00 to $135.00 and set an “overweight” rating for the company in a report on Tuesday, November 5th. Benchmark reiterated a “hold” rating on shares of Silicon Laboratories in a report on Tuesday, November 5th. Barclays decreased 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. Finally, Morgan Stanley decreased their price objective on shares of Silicon Laboratories from $123.00 to $97.00 and set an “equal weight” rating for the company in a report 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 company. Based on data from MarketBeat.com, Silicon Laboratories presently has an average rating of “Hold” and a consensus target price of $121.50.

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.