Crossmark Global Holdings Inc. Trims Position in Silicon Laboratories Inc. (NASDAQ:SLAB)

Crossmark Global Holdings Inc. decreased its stake in shares of Silicon Laboratories Inc. (NASDAQ:SLAB) by 58.0% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 2,108 shares of the semiconductor company’s stock after selling 2,913 shares during the period. Crossmark Global Holdings Inc.’s holdings in Silicon Laboratories were worth $243,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in SLAB. Emerald Advisers LLC acquired a new position in shares of Silicon Laboratories during the 3rd quarter valued at $1,177,000. Van ECK Associates Corp acquired a new stake in shares of Silicon Laboratories during the third quarter worth approximately $189,000. Harbor Capital Advisors Inc. increased its position in shares of Silicon Laboratories by 33.7% in the 3rd quarter. Harbor Capital Advisors Inc. now owns 1,727 shares of the semiconductor company’s stock worth $200,000 after purchasing an additional 435 shares during the last quarter. Emerald Mutual Fund Advisers Trust acquired a new stake in shares of Silicon Laboratories during the 3rd quarter valued at approximately $1,177,000. Finally, US Bancorp DE lifted its position in shares of Silicon Laboratories by 14.0% in the 3rd quarter. US Bancorp DE now owns 1,892 shares of the semiconductor company’s stock worth $219,000 after buying an additional 232 shares during the last quarter.

Silicon Laboratories Trading Up 0.2 %

Shares of SLAB stock opened at $100.71 on Tuesday. The company has a market capitalization of $3.27 billion, a price-to-earnings ratio of -13.61 and a beta of 1.20. 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 $111.58 and its 200-day simple moving average is $114.65.

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.

Insiders Place Their Bets

In other news, SVP Brandon Tolany sold 845 shares of the company’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $115.00, for a total value of $97,175.00. Following the transaction, the senior vice president now directly owns 43,615 shares of the company’s stock, valued at approximately $5,015,725. This represents a 1.90 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 1.72% of the company’s stock.

Wall Street Analysts Forecast Growth

SLAB has been the subject of several recent research reports. Benchmark restated a “hold” rating on shares of Silicon Laboratories in a research report on Tuesday, November 5th. Morgan Stanley lowered their target price on Silicon Laboratories from $123.00 to $97.00 and set an “equal weight” rating on the stock in a report on Tuesday, November 5th. KeyCorp cut their price target on shares of Silicon Laboratories from $150.00 to $115.00 and set an “overweight” rating for the company in a report on Tuesday, November 5th. JPMorgan Chase & Co. dropped their target price on shares of Silicon Laboratories from $150.00 to $135.00 and set an “overweight” rating on the stock in a report on Tuesday, November 5th. Finally, StockNews.com upgraded shares of Silicon Laboratories to a “sell” rating in a report on Friday, November 8th. One analyst has rated the stock with a sell rating, five have given a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, 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.