Eagle Asset Management Inc. Sells 390 Shares of Silicon Laboratories Inc. (NASDAQ:SLAB)

Eagle Asset Management Inc. decreased its stake in Silicon Laboratories Inc. (NASDAQ:SLAB) by 0.5% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 73,161 shares of the semiconductor company’s stock after selling 390 shares during the period. Eagle Asset Management Inc. owned 0.23% of Silicon Laboratories worth $8,201,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Cullen Frost Bankers Inc. bought a new stake in shares of Silicon Laboratories in the 2nd quarter worth approximately $28,000. Advisors Asset Management Inc. lifted its position in shares of Silicon Laboratories by 159.4% during the 3rd quarter. Advisors Asset Management Inc. now owns 275 shares of the semiconductor company’s stock valued at $32,000 after buying an additional 169 shares during the last quarter. GAMMA Investing LLC grew its stake in shares of Silicon Laboratories by 84.1% during the 3rd quarter. GAMMA Investing LLC now owns 497 shares of the semiconductor company’s stock worth $57,000 after acquiring an additional 227 shares during the period. Daiwa Securities Group Inc. purchased a new stake in Silicon Laboratories in the 2nd quarter worth about $60,000. Finally, Migdal Insurance & Financial Holdings Ltd. purchased a new stake in Silicon Laboratories in the 2nd quarter worth about $82,000.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on SLAB. Stifel Nicolaus cut 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 report on Tuesday, November 5th. StockNews.com upgraded shares of Silicon Laboratories to a “sell” rating in a research note on Friday, November 8th. JPMorgan Chase & Co. dropped their target price on Silicon Laboratories from $150.00 to $135.00 and set an “overweight” rating on the stock in a research report on Tuesday, November 5th. Morgan Stanley reduced their price target on Silicon Laboratories from $123.00 to $97.00 and set an “equal weight” rating for the company in a research report on Tuesday, November 5th. Finally, Benchmark reissued a “hold” rating on shares of Silicon Laboratories in a report on Tuesday, November 5th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and five have given a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $121.50.

Silicon Laboratories Stock Up 2.7 %

Shares of NASDAQ SLAB opened at $106.27 on Monday. The stock’s 50-day simple moving average is $111.13 and its two-hundred day simple moving average is $114.02. Silicon Laboratories Inc. has a twelve month low of $94.00 and a twelve month high of $154.91. The firm has a market capitalization of $3.45 billion, a P/E ratio of -14.36 and a beta of 1.20.

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

Insider Transactions at Silicon Laboratories

In other Silicon Laboratories news, SVP Brandon Tolany sold 845 shares of the firm’s 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 sale, the senior vice president now owns 43,615 shares in the company, valued at $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 SEC, which is available at this hyperlink. 1.72% of the stock is currently owned by 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.