Harbor Capital Advisors Inc. Raises Stock Holdings in Silicon Laboratories Inc. (NASDAQ:SLAB)

Harbor Capital Advisors Inc. boosted its holdings in shares of Silicon Laboratories Inc. (NASDAQ:SLAB) by 33.7% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,727 shares of the semiconductor company’s stock after acquiring an additional 435 shares during the quarter. Harbor Capital Advisors Inc.’s holdings in Silicon Laboratories were worth $200,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Capital Research Global Investors grew its holdings in shares of Silicon Laboratories by 29.9% in the first quarter. Capital Research Global Investors now owns 1,217,939 shares of the semiconductor company’s stock worth $175,042,000 after purchasing an additional 280,000 shares during the last quarter. Clearbridge Investments LLC grew its stake in Silicon Laboratories by 84.0% in the 2nd quarter. Clearbridge Investments LLC now owns 273,776 shares of the semiconductor company’s stock worth $30,288,000 after acquiring an additional 125,022 shares in the last quarter. American Century Companies Inc. increased its position in shares of Silicon Laboratories by 29.5% during the second quarter. American Century Companies Inc. now owns 316,407 shares of the semiconductor company’s stock worth $35,004,000 after acquiring an additional 72,138 shares during the period. Van Berkom & Associates Inc. raised its stake 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 in the last quarter. Finally, Davidson Investment Advisors boosted its holdings in shares of Silicon Laboratories by 36.7% in the second quarter. Davidson Investment Advisors now owns 131,453 shares of the semiconductor company’s stock valued at $14,543,000 after purchasing an additional 35,317 shares during the period.

Wall Street Analysts Forecast Growth

SLAB has been the topic of several research reports. KeyCorp reduced their price objective on Silicon Laboratories from $150.00 to $115.00 and set an “overweight” rating on the stock in a report on Tuesday. Needham & Company LLC restated a “buy” rating and issued a $150.00 price objective on shares of Silicon Laboratories in a report on Thursday, July 25th. StockNews.com upgraded shares of Silicon Laboratories to a “sell” rating in a report on Friday. Morgan Stanley reduced their price target 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. Finally, Benchmark reiterated a “hold” rating on shares of Silicon Laboratories in a research note on Tuesday. One analyst has rated the stock with a sell rating, five have given a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, Silicon Laboratories currently has a consensus rating of “Hold” and an average target price of $121.50.

Silicon Laboratories Stock Down 1.8 %

NASDAQ:SLAB opened at $113.65 on Friday. The stock has a market capitalization of $3.67 billion, a price-to-earnings ratio of -15.36 and a beta of 1.20. Silicon Laboratories Inc. has a 52 week low of $92.55 and a 52 week high of $154.91. The firm has a 50 day moving average of $112.22 and a 200 day moving average of $115.47.

Silicon Laboratories (NASDAQ:SLAB) last issued its quarterly earnings results on Monday, November 4th. The semiconductor company reported ($0.13) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.20) by $0.07. The business 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 12.40% and a negative net margin of 46.93%. The business’s quarterly revenue was down 18.5% on a year-over-year basis. During the same period in the prior year, the firm posted $0.48 earnings per share. As a group, analysts expect that Silicon Laboratories Inc. will post -3.41 EPS for the current year.

Insider Buying and Selling at Silicon Laboratories

In other news, SVP Brandon Tolany sold 845 shares of the business’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $115.00, for a total transaction of $97,175.00. Following the sale, the senior vice president now owns 43,615 shares in the company, valued at approximately $5,015,725. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.72% of the stock is currently owned by company insiders.

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.