Quest Partners LLC Acquires New Shares in Silicon Laboratories Inc. (NASDAQ:SLAB)

Quest Partners LLC bought a new position in shares of Silicon Laboratories Inc. (NASDAQ:SLAB) during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund bought 3,688 shares of the semiconductor company’s stock, valued at approximately $426,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Cullen Frost Bankers Inc. bought a new position in shares of Silicon Laboratories during the 2nd quarter valued at about $28,000. GAMMA Investing LLC lifted its stake in Silicon Laboratories by 84.1% in the third quarter. GAMMA Investing LLC now owns 497 shares of the semiconductor company’s stock valued at $57,000 after buying an additional 227 shares in the last quarter. Daiwa Securities Group Inc. acquired a new position in shares of Silicon Laboratories in the second quarter valued at approximately $60,000. Migdal Insurance & Financial Holdings Ltd. bought a new stake in shares of Silicon Laboratories during the second quarter worth $82,000. Finally, International Assets Investment Management LLC raised its holdings in shares of Silicon Laboratories by 11,457.1% during the third quarter. International Assets Investment Management LLC now owns 809 shares of the semiconductor company’s stock worth $93,000 after acquiring an additional 802 shares during the period.

Insider Activity at Silicon Laboratories

In other news, SVP Brandon Tolany sold 845 shares of the firm’s stock in a transaction that occurred 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 sale, the senior vice president now directly owns 43,615 shares in the company, valued at approximately $5,015,725. This trade represents a 1.90 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 1.72% of the stock is currently owned by insiders.

Silicon Laboratories Stock Performance

Shares of NASDAQ:SLAB opened at $106.27 on Monday. The company has a 50-day simple moving average of $111.13 and a 200 day simple moving average of $114.02. The company has a market capitalization of $3.45 billion, a P/E ratio of -14.36 and a beta of 1.20. Silicon Laboratories Inc. has a 52-week low of $94.00 and a 52-week high of $154.91.

Silicon Laboratories (NASDAQ:SLAB) last posted its earnings results on Monday, November 4th. The semiconductor company reported ($0.13) EPS for the quarter, beating the consensus estimate of ($0.20) by $0.07. Silicon Laboratories had a negative return on equity of 12.60% and a negative net margin of 46.93%. The company had revenue of $166.00 million for the quarter, compared to the consensus estimate of $165.50 million. During the same quarter in the prior year, the business earned $0.48 earnings per share. The firm’s revenue for the quarter was down 18.5% on a year-over-year basis. As a group, equities analysts forecast that Silicon Laboratories Inc. will post -3.56 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on SLAB shares. Stifel Nicolaus reduced their target price 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. Barclays decreased their price objective on Silicon Laboratories from $120.00 to $75.00 and set an “equal weight” rating for the company in a report on Tuesday, November 5th. Morgan Stanley cut their target price on 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. Benchmark reaffirmed a “hold” rating on shares of Silicon Laboratories in a research report on Tuesday, November 5th. Finally, KeyCorp lowered their price objective on shares of Silicon Laboratories from $150.00 to $115.00 and set an “overweight” rating on the stock in a report on Tuesday, November 5th. One research analyst has rated the stock with a sell rating, five have given a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $121.50.

Silicon Laboratories 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.