Glenmede Trust Co. NA Buys New Position in Silicon Laboratories Inc. (NASDAQ:SLAB)

Glenmede Trust Co. NA purchased a new position in shares of Silicon Laboratories Inc. (NASDAQ:SLAB) during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 1,772 shares of the semiconductor company’s stock, valued at approximately $205,000.

A number of other institutional investors also recently made changes to their positions in the stock. FMR LLC raised its holdings in Silicon Laboratories by 1.1% during the third quarter. FMR LLC now owns 4,843,370 shares of the semiconductor company’s stock worth $559,748,000 after purchasing an additional 54,708 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in shares of Silicon Laboratories by 2.0% in 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 in the last quarter. Van Berkom & Associates Inc. lifted its holdings in shares of Silicon Laboratories by 8.4% in the second quarter. Van Berkom & Associates Inc. now owns 609,232 shares of the semiconductor company’s stock valued at $67,399,000 after buying an additional 47,058 shares during the period. Federated Hermes Inc. boosted its stake in Silicon Laboratories by 2.2% during the second quarter. Federated Hermes Inc. now owns 545,833 shares of the semiconductor company’s stock valued at $60,386,000 after buying an additional 11,981 shares in the last quarter. Finally, Bank of New York Mellon Corp grew its holdings in Silicon Laboratories by 10.2% during the second 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.

Silicon Laboratories Trading Down 1.6 %

Shares of SLAB stock opened at $109.77 on Friday. The company has a market capitalization of $3.56 billion, a price-to-earnings ratio of -14.83 and a beta of 1.21. Silicon Laboratories Inc. has a 1-year low of $94.00 and a 1-year high of $154.91. The stock’s fifty day simple moving average is $110.93 and its 200-day simple moving average is $113.11.

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, beating analysts’ consensus estimates of ($0.20) by $0.07. The company had revenue of $166.00 million for the quarter, compared to the consensus estimate of $165.50 million. Silicon Laboratories had a negative return on equity of 12.60% and a negative net margin of 46.93%. The firm’s quarterly revenue was down 18.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.48 EPS. On average, sell-side analysts predict that Silicon Laboratories Inc. will post -3.56 EPS for the current year.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on SLAB shares. Barclays cut their price target on shares of Silicon Laboratories from $120.00 to $75.00 and set an “equal weight” rating for the company in a report on Tuesday, November 5th. Benchmark restated a “hold” rating on shares of Silicon Laboratories in a report on Tuesday, November 5th. StockNews.com raised Silicon Laboratories to a “sell” rating in a report on Friday, November 8th. JPMorgan Chase & Co. reduced their price objective on Silicon Laboratories from $150.00 to $135.00 and set an “overweight” rating for the company in a research note on Tuesday, November 5th. Finally, KeyCorp decreased their target price on Silicon Laboratories from $150.00 to $115.00 and set an “overweight” rating on the stock in a report on Tuesday, November 5th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $121.50.

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.