Silicon Laboratories Inc. (NASDAQ:SLAB) Stock Holdings Increased by Envestnet Asset Management Inc.

Envestnet Asset Management Inc. boosted its stake in shares of Silicon Laboratories Inc. (NASDAQ:SLAB) by 15.6% during the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 110,375 shares of the semiconductor company’s stock after purchasing an additional 14,877 shares during the period. Envestnet Asset Management Inc. owned about 0.35% of Silicon Laboratories worth $12,211,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Harbor Capital Advisors Inc. increased its stake in shares of Silicon Laboratories by 8.5% in the second quarter. Harbor Capital Advisors Inc. now owns 1,292 shares of the semiconductor company’s stock worth $143,000 after acquiring an additional 101 shares during the last quarter. Orion Portfolio Solutions LLC grew its stake in shares of Silicon Laboratories by 1.1% in the 1st quarter. Orion Portfolio Solutions LLC now owns 9,858 shares of the semiconductor company’s stock valued at $1,417,000 after buying an additional 103 shares in the last quarter. Victory Capital Management Inc. increased its holdings in Silicon Laboratories by 2.3% in the second quarter. Victory Capital Management Inc. now owns 6,638 shares of the semiconductor company’s stock worth $734,000 after buying an additional 150 shares during the last quarter. State of Michigan Retirement System raised its holdings in shares of Silicon Laboratories by 2.6% during the 1st quarter. State of Michigan Retirement System now owns 7,797 shares of the semiconductor company’s stock valued at $1,121,000 after purchasing an additional 200 shares in the last quarter. Finally, Arizona State Retirement System lifted its position in shares of Silicon Laboratories by 2.3% in the second quarter. Arizona State Retirement System now owns 8,936 shares of the semiconductor company’s stock worth $989,000 after buying an additional 202 shares during the last quarter.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the stock. StockNews.com upgraded shares of Silicon Laboratories to a “sell” rating in a research note on Tuesday, July 23rd. Needham & Company LLC reiterated a “buy” rating and issued a $150.00 price objective on shares of Silicon Laboratories in a research report on Thursday, July 25th. One analyst has rated the stock with a sell rating, five have given a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $135.00.

Silicon Laboratories Stock Up 0.8 %

SLAB stock opened at $114.09 on Thursday. Silicon Laboratories Inc. has a twelve month low of $74.56 and a twelve month high of $154.91. The business’s fifty day moving average is $110.27 and its 200-day moving average is $119.57. The company has a market cap of $3.68 billion, a P/E ratio of -34.47 and a beta of 1.19.

Silicon Laboratories (NASDAQ:SLAB) last issued its earnings results on Wednesday, July 24th. The semiconductor company reported ($0.56) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.64) by $0.08. The firm had revenue of $145.40 million for the quarter, compared to analysts’ expectations of $140.18 million. Silicon Laboratories had a negative return on equity of 9.13% and a negative net margin of 36.53%. The company’s revenue was down 40.6% compared to the same quarter last year. During the same quarter last year, the business earned $0.59 earnings per share. Research analysts anticipate that Silicon Laboratories Inc. will post -3.41 earnings per share for the current fiscal year.

Insider Buying and Selling at Silicon Laboratories

In related news, SVP Brandon Tolany sold 845 shares of the firm’s stock in a transaction on 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 of the company’s stock, valued at approximately $5,015,725. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 1.72% of the company’s stock.

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.