Envestnet Portfolio Solutions Inc. Purchases 2,210 Shares of Silicon Laboratories Inc. (NASDAQ:SLAB)

Envestnet Portfolio Solutions Inc. lifted its position in Silicon Laboratories Inc. (NASDAQ:SLAB) by 37.0% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,187 shares of the semiconductor company’s stock after acquiring an additional 2,210 shares during the quarter. Envestnet Portfolio Solutions Inc.’s holdings in Silicon Laboratories were worth $906,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Dimensional Fund Advisors LP raised its holdings in shares of Silicon Laboratories by 4.7% in the fourth quarter. Dimensional Fund Advisors LP now owns 641,710 shares of the semiconductor company’s stock valued at $84,884,000 after acquiring an additional 28,759 shares in the last quarter. Premier Fund Managers Ltd raised its holdings in Silicon Laboratories by 18.6% in the fourth quarter. Premier Fund Managers Ltd now owns 53,845 shares of the semiconductor company’s stock worth $7,298,000 after purchasing an additional 8,426 shares in the last quarter. Pathstone Holdings LLC bought a new position in Silicon Laboratories in the fourth quarter worth about $58,205,000. CWM LLC raised its holdings in Silicon Laboratories by 185.0% in the second quarter. CWM LLC now owns 8,435 shares of the semiconductor company’s stock worth $933,000 after purchasing an additional 5,475 shares in the last quarter. Finally, Natixis bought a new position in Silicon Laboratories in the first quarter worth about $647,000.

Insider Activity at Silicon Laboratories

In related news, CEO Robert Matthew Johnson sold 7,230 shares of the company’s stock in a transaction that occurred on Monday, June 3rd. The stock was sold at an average price of $123.80, for a total value of $895,074.00. Following the sale, the chief executive officer now owns 47,910 shares in the company, valued at $5,931,258. The sale was disclosed in a legal filing with the SEC, which is available through this link. 1.72% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of brokerages have commented on SLAB. Benchmark reiterated a “hold” rating on shares of Silicon Laboratories in a report on Thursday, April 25th. Barclays reduced their target price on shares of Silicon Laboratories from $140.00 to $120.00 and set an “equal weight” rating for the company in a report on Thursday, April 25th. Needham & Company LLC reiterated a “buy” rating and issued a $150.00 target price on shares of Silicon Laboratories in a report on Thursday, July 25th. TD Cowen dropped their price target 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, JPMorgan Chase & Co. dropped their price target on Silicon Laboratories from $165.00 to $150.00 and set an “overweight” rating on the stock in a research note on Thursday, April 25th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $135.00.

Silicon Laboratories Stock Down 0.1 %

Shares of NASDAQ SLAB opened at $104.30 on Monday. The business’s 50 day moving average price is $112.45 and its 200 day moving average price is $124.40. The firm has a market cap of $3.37 billion, a P/E ratio of -31.51 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.

Silicon Laboratories (NASDAQ:SLAB) last issued its earnings results on Wednesday, July 24th. The semiconductor company reported ($0.56) EPS for the quarter, beating analysts’ consensus estimates of ($0.64) by $0.08. The firm had revenue of $145.40 million for the quarter, compared to analyst estimates 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 revenue for the quarter was down 40.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.59 earnings per share. As a group, research analysts expect that Silicon Laboratories Inc. will post -3.4 earnings per share for the current year.

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.