Principal Financial Group Inc. Lowers Holdings in Silicon Laboratories Inc. (NASDAQ:SLAB)

Principal Financial Group Inc. trimmed its position in shares of Silicon Laboratories Inc. (NASDAQ:SLAB) by 30.1% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 75,664 shares of the semiconductor company’s stock after selling 32,550 shares during the period. Principal Financial Group Inc.’s holdings in Silicon Laboratories were worth $8,744,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. Victory Capital Management Inc. lifted its holdings in shares of Silicon Laboratories by 2.3% during the second quarter. Victory Capital Management Inc. now owns 6,638 shares of the semiconductor company’s stock valued at $734,000 after purchasing an additional 150 shares in the last quarter. Advisors Asset Management Inc. lifted its stake in 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 acquiring an additional 169 shares during the period. Arizona State Retirement System lifted its stake in Silicon Laboratories by 2.3% during the 2nd quarter. Arizona State Retirement System now owns 8,936 shares of the semiconductor company’s stock valued at $989,000 after acquiring an additional 202 shares during the period. GAMMA Investing LLC grew its stake in shares of Silicon Laboratories by 84.1% in the third 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. Finally, US Bancorp DE grew its stake in shares of Silicon Laboratories by 14.0% in the third quarter. US Bancorp DE now owns 1,892 shares of the semiconductor company’s stock worth $219,000 after acquiring an additional 232 shares during the period.

Wall Street Analysts Forecast Growth

SLAB has been the topic of several research reports. Benchmark restated a “hold” rating on shares of Silicon Laboratories in a report on Tuesday, November 5th. Stifel Nicolaus dropped their price target on Silicon Laboratories from $160.00 to $135.00 and set a “buy” rating on the stock in a research note on Tuesday, November 5th. Susquehanna initiated coverage on Silicon Laboratories in a report on Tuesday, December 17th. They issued a “neutral” rating and a $130.00 price objective for the company. 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 report on Tuesday, November 5th. Finally, Morgan Stanley cut their price target on Silicon Laboratories from $123.00 to $97.00 and set an “equal weight” rating for the company in a research note on Tuesday, November 5th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $122.44.

Silicon Laboratories Trading Down 0.5 %

NASDAQ SLAB opened at $124.22 on Wednesday. Silicon Laboratories Inc. has a 12 month low of $94.00 and a 12 month high of $154.91. The stock has a market cap of $4.03 billion, a price-to-earnings ratio of -16.79 and a beta of 1.21. The company’s 50 day moving average is $114.70 and its two-hundred day moving average is $113.22.

Silicon Laboratories (NASDAQ:SLAB) last released 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. The company had revenue of $166.00 million for 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%. Silicon Laboratories’s revenue for the quarter was down 18.5% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.48 EPS. Sell-side analysts forecast that Silicon Laboratories Inc. will post -3.56 EPS 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.