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

Intech Investment Management LLC lifted its stake in Silicon Laboratories Inc. (NASDAQ:SLAB) by 82.9% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 12,837 shares of the semiconductor company’s stock after purchasing an additional 5,818 shares during the quarter. Intech Investment Management LLC’s holdings in Silicon Laboratories were worth $1,484,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently made changes to their positions in the company. Cullen Frost Bankers Inc. bought a new stake in shares of Silicon Laboratories in the 2nd quarter worth approximately $28,000. Advisors Asset Management Inc. raised its holdings in Silicon Laboratories by 159.4% in the 3rd quarter. Advisors Asset Management Inc. now owns 275 shares of the semiconductor company’s stock worth $32,000 after acquiring an additional 169 shares during the last quarter. GAMMA Investing LLC raised its holdings in Silicon Laboratories by 84.1% in the 3rd 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 last quarter. Daiwa Securities Group Inc. purchased a new position in Silicon Laboratories in the 2nd quarter worth approximately $60,000. Finally, Migdal Insurance & Financial Holdings Ltd. purchased a new position in Silicon Laboratories in the 2nd quarter worth approximately $82,000.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the stock. Stifel Nicolaus decreased 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 restated a “hold” rating on shares of Silicon Laboratories in a report on Tuesday, November 5th. JPMorgan Chase & Co. decreased their price objective on shares of Silicon Laboratories from $150.00 to $135.00 and set an “overweight” rating for the company in a report on Tuesday, November 5th. Morgan Stanley decreased 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. Finally, Barclays decreased their target price on shares of Silicon Laboratories from $120.00 to $75.00 and set an “equal weight” rating for the company in a research note on Tuesday, November 5th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $121.50.

Silicon Laboratories Price Performance

Shares of SLAB stock opened at $112.06 on Tuesday. Silicon Laboratories Inc. has a 1 year low of $94.00 and a 1 year high of $154.91. The firm has a fifty day moving average price of $111.17 and a 200-day moving average price of $113.90. The company has a market cap of $3.64 billion, a price-to-earnings ratio of -15.14 and a beta of 1.20.

Silicon Laboratories (NASDAQ:SLAB) last issued its quarterly earnings data on Monday, November 4th. The semiconductor company reported ($0.13) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.20) by $0.07. Silicon Laboratories had a negative net margin of 46.93% and a negative return on equity of 12.60%. The firm had revenue of $166.00 million during the quarter, compared to the consensus estimate of $165.50 million. During the same quarter in the previous year, the firm posted $0.48 EPS. The company’s revenue for the quarter was down 18.5% compared to the same quarter last year. Equities research analysts expect that Silicon Laboratories Inc. will post -3.56 EPS for the current year.

Insider Activity

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 owns 43,615 shares of the company’s stock, valued at $5,015,725. The trade was a 1.90 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 1.72% of the company’s stock.

About Silicon Laboratories

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.