PNC Financial Services Group Inc. Has $467,000 Stock Holdings in Silicon Laboratories Inc. (NASDAQ:SLAB)

PNC Financial Services Group Inc. lessened its position in shares of Silicon Laboratories Inc. (NASDAQ:SLAB) by 11.1% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 3,530 shares of the semiconductor company’s stock after selling 440 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Silicon Laboratories were worth $467,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. GAMMA Investing LLC acquired a new position in shares of Silicon Laboratories during the fourth quarter valued at $36,000. Gladius Capital Management LP lifted its stake in shares of Silicon Laboratories by 328.7% during the fourth quarter. Gladius Capital Management LP now owns 373 shares of the semiconductor company’s stock valued at $49,000 after acquiring an additional 286 shares during the period. CWM LLC lifted its stake in shares of Silicon Laboratories by 78.1% during the fourth quarter. CWM LLC now owns 374 shares of the semiconductor company’s stock valued at $49,000 after acquiring an additional 164 shares during the period. Itau Unibanco Holding S.A. acquired a new position in shares of Silicon Laboratories during the third quarter valued at $61,000. Finally, International Assets Investment Management LLC lifted its stake in shares of Silicon Laboratories by 429.1% during the fourth quarter. International Assets Investment Management LLC now owns 926 shares of the semiconductor company’s stock valued at $122,000 after acquiring an additional 751 shares during the period.

Silicon Laboratories Price Performance

Shares of Silicon Laboratories stock opened at $109.33 on Friday. Silicon Laboratories Inc. has a 1 year low of $74.56 and a 1 year high of $166.94. The business has a 50-day moving average of $121.95 and a two-hundred day moving average of $128.37. The company has a market capitalization of $3.49 billion, a P/E ratio of -33.03 and a beta of 1.23.

Silicon Laboratories (NASDAQ:SLAB) last announced its quarterly earnings results on Wednesday, April 24th. The semiconductor company reported ($1.34) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.29) by ($0.05). The business had revenue of $106.38 million during the quarter, compared to the consensus estimate of $104.45 million. Silicon Laboratories had a negative return on equity of 4.45% and a negative net margin of 16.36%. On average, equities analysts anticipate that Silicon Laboratories Inc. will post -3.21 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts have weighed in on SLAB shares. Citigroup cut their target price on Silicon Laboratories from $137.00 to $120.00 and set a “neutral” rating on the stock in a research note on Thursday, April 25th. Benchmark reissued a “hold” rating on shares of Silicon Laboratories in a research note on Thursday, April 25th. Barclays cut their target price on Silicon Laboratories from $140.00 to $120.00 and set an “equal weight” rating on the stock in a research note on Thursday, April 25th. TD Cowen cut their target price on Silicon Laboratories from $155.00 to $145.00 and set a “buy” rating on the stock in a research note on Thursday, April 25th. Finally, Summit Insights lowered Silicon Laboratories from a “buy” rating to a “hold” rating in a research note on Wednesday, April 24th. One analyst has rated the stock with a sell rating, six have given a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $135.00.

Insider Buying and Selling

In related news, CEO Robert Matthew Johnson sold 7,230 shares of the stock in a transaction dated Monday, June 3rd. The stock was sold at an average price of $123.80, for a total transaction of $895,074.00. Following the completion of the transaction, the chief executive officer now directly owns 47,910 shares in the company, valued at $5,931,258. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 1.72% of the stock is 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.