Intech Investment Management LLC Purchases 5,818 Shares of Silicon Laboratories Inc. (NASDAQ:SLAB)

Intech Investment Management LLC increased its position in Silicon Laboratories Inc. (NASDAQ:SLAB) by 82.9% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 12,837 shares of the semiconductor company’s stock after buying an additional 5,818 shares during the quarter. Intech Investment Management LLC’s holdings in Silicon Laboratories were worth $1,484,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of SLAB. Lazard Asset Management LLC bought a new position in Silicon Laboratories in the 1st quarter worth $103,000. Tidal Investments LLC bought a new position in shares of Silicon Laboratories during the 1st quarter valued at about $230,000. Harbor Capital Advisors Inc. boosted its holdings in shares of Silicon Laboratories by 8.5% during the 2nd quarter. Harbor Capital Advisors Inc. now owns 1,292 shares of the semiconductor company’s stock valued at $143,000 after purchasing an additional 101 shares during the last quarter. CWM LLC boosted its holdings in shares of Silicon Laboratories by 185.0% during the 2nd quarter. CWM LLC now owns 8,435 shares of the semiconductor company’s stock valued at $933,000 after purchasing an additional 5,475 shares during the last quarter. Finally, Linden Thomas Advisory Services LLC boosted its holdings in shares of Silicon Laboratories by 37.2% during the 2nd quarter. Linden Thomas Advisory Services LLC now owns 12,457 shares of the semiconductor company’s stock valued at $1,378,000 after purchasing an additional 3,377 shares during the last quarter.

Wall Street Analysts Forecast Growth

SLAB has been the subject of several research reports. Morgan Stanley dropped their price objective on shares of Silicon Laboratories from $123.00 to $97.00 and set an “equal weight” rating for the company in a report on Tuesday, November 5th. KeyCorp dropped their price objective 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. Stifel Nicolaus dropped their price objective on shares of Silicon Laboratories from $160.00 to $135.00 and set a “buy” rating for the company in a report on Tuesday, November 5th. Benchmark reissued a “hold” rating on shares of Silicon Laboratories in a report on Tuesday, November 5th. Finally, JPMorgan Chase & Co. decreased their target price on shares of Silicon Laboratories from $150.00 to $135.00 and set an “overweight” rating on the stock in a research report on Tuesday, November 5th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, Silicon Laboratories presently has an average rating of “Hold” and an average target price of $121.50.

Insiders Place Their Bets

In other news, SVP Brandon Tolany sold 845 shares of the business’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $115.00, for a total transaction of $97,175.00. Following the completion of the sale, the senior vice president now directly owns 43,615 shares of the company’s stock, valued at approximately $5,015,725. The trade was a 1.90 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 1.72% of the stock is owned by insiders.

Silicon Laboratories Stock Up 5.4 %

NASDAQ SLAB opened at $112.06 on Tuesday. The company has a fifty day moving average of $111.17 and a two-hundred day moving average of $113.90. The firm has a market capitalization of $3.64 billion, a price-to-earnings ratio of -15.14 and a beta of 1.20. Silicon Laboratories Inc. has a 52 week low of $94.00 and a 52 week high of $154.91.

Silicon Laboratories (NASDAQ:SLAB) last posted its quarterly earnings data on Monday, November 4th. The semiconductor company reported ($0.13) EPS for the quarter, topping the consensus estimate of ($0.20) by $0.07. The company had revenue of $166.00 million during the quarter, compared to analyst estimates 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 quarterly revenue was down 18.5% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.48 earnings per share. Equities research analysts anticipate that Silicon Laboratories Inc. will post -3.56 EPS for the current year.

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.