Silicon Laboratories Inc. (NASDAQ:SLAB) Holdings Boosted by Citigroup Inc.

Citigroup Inc. grew its stake in shares of Silicon Laboratories Inc. (NASDAQ:SLAB) by 37.6% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 59,064 shares of the semiconductor company’s stock after purchasing an additional 16,134 shares during the quarter. Citigroup Inc. owned approximately 0.18% of Silicon Laboratories worth $6,826,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Dimensional Fund Advisors LP grew its stake in Silicon Laboratories by 2.0% during the 2nd quarter. Dimensional Fund Advisors LP now owns 639,065 shares of the semiconductor company’s stock worth $70,699,000 after buying an additional 12,680 shares during the last quarter. Van Berkom & Associates Inc. boosted its holdings in shares of Silicon Laboratories by 8.4% during the second quarter. Van Berkom & Associates Inc. now owns 609,232 shares of the semiconductor company’s stock valued at $67,399,000 after acquiring an additional 47,058 shares during the period. Federated Hermes Inc. grew its position in shares of Silicon Laboratories by 2.2% during the second quarter. Federated Hermes Inc. now owns 545,833 shares of the semiconductor company’s stock worth $60,386,000 after acquiring an additional 11,981 shares during the last quarter. Bank of New York Mellon Corp increased its holdings in shares of Silicon Laboratories by 10.2% in the 2nd quarter. Bank of New York Mellon Corp now owns 358,994 shares of the semiconductor company’s stock worth $39,715,000 after acquiring an additional 33,210 shares during the period. Finally, American Century Companies Inc. lifted its position in Silicon Laboratories by 29.5% in the 2nd quarter. American Century Companies Inc. now owns 316,407 shares of the semiconductor company’s stock valued at $35,004,000 after purchasing an additional 72,138 shares during the last quarter.

Insider Buying and Selling

In other Silicon Laboratories news, SVP Brandon Tolany sold 845 shares of the firm’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $115.00, for a total value of $97,175.00. Following the completion of the transaction, the senior vice president now directly 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 sale was disclosed in a filing with the SEC, which is available through this link. Insiders own 1.72% of the company’s stock.

Silicon Laboratories Trading Up 1.7 %

Shares of NASDAQ SLAB opened at $110.65 on Friday. The firm has a 50-day moving average of $110.92 and a two-hundred day moving average of $113.60. The company has a market capitalization of $3.59 billion, a price-to-earnings ratio of -14.95 and a beta of 1.20. Silicon Laboratories Inc. has a twelve month low of $94.00 and a twelve month high of $154.91.

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

Wall Street Analysts Forecast Growth

SLAB has been the subject of several recent analyst reports. Benchmark restated a “hold” rating on shares of Silicon Laboratories in a research note on Tuesday, November 5th. Barclays lowered their target price on Silicon Laboratories from $120.00 to $75.00 and set an “equal weight” 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. KeyCorp lowered their price target on Silicon Laboratories from $150.00 to $115.00 and set an “overweight” rating on the stock in a report on Tuesday, November 5th. Finally, JPMorgan Chase & Co. reduced their price objective on shares of Silicon Laboratories from $150.00 to $135.00 and set an “overweight” rating for the company in a report on Tuesday, November 5th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average 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.