Verition Fund Management LLC Increases Holdings in Silicon Laboratories Inc. (NASDAQ:SLAB)

Verition Fund Management LLC boosted its stake in Silicon Laboratories Inc. (NASDAQ:SLAB) by 51.4% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,528 shares of the semiconductor company’s stock after purchasing an additional 1,877 shares during the period. Verition Fund Management LLC’s holdings in Silicon Laboratories were worth $639,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Captrust Financial Advisors raised its holdings in shares of Silicon Laboratories by 26.2% during the 3rd quarter. Captrust Financial Advisors now owns 4,330 shares of the semiconductor company’s stock valued at $500,000 after buying an additional 900 shares during the period. Glenmede Trust Co. NA purchased a new stake in shares of Silicon Laboratories during the third quarter valued at approximately $205,000. FMR LLC raised its stake in shares of Silicon Laboratories by 1.1% during the third quarter. FMR LLC now owns 4,843,370 shares of the semiconductor company’s stock valued at $559,748,000 after purchasing an additional 54,708 shares during the period. Fisher Asset Management LLC lifted its position in shares of Silicon Laboratories by 20.8% during the third quarter. Fisher Asset Management LLC now owns 55,640 shares of the semiconductor company’s stock worth $6,430,000 after purchasing an additional 9,566 shares in the last quarter. Finally, Cerity Partners LLC boosted its stake in shares of Silicon Laboratories by 19.0% in the third quarter. Cerity Partners LLC now owns 14,372 shares of the semiconductor company’s stock valued at $1,661,000 after purchasing an additional 2,290 shares during the period.

Silicon Laboratories Trading Down 0.7 %

Shares of SLAB opened at $123.43 on Wednesday. Silicon Laboratories Inc. has a 52 week low of $94.00 and a 52 week high of $154.91. The firm has a market cap of $4.01 billion, a price-to-earnings ratio of -16.68 and a beta of 1.21. The stock has a 50 day moving average of $111.15 and a 200-day moving average of $112.74.

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

Analyst Ratings Changes

SLAB has been the topic of a number of recent analyst reports. Morgan Stanley cut their price objective on shares of Silicon Laboratories from $123.00 to $97.00 and set an “equal weight” rating on the stock in a report on Tuesday, November 5th. Barclays cut their price target on Silicon Laboratories from $120.00 to $75.00 and set an “equal weight” rating on the stock in a research note on Tuesday, November 5th. Benchmark restated a “hold” rating on shares of Silicon Laboratories in a research note on Tuesday, November 5th. KeyCorp cut their target price on Silicon Laboratories from $150.00 to $115.00 and set an “overweight” rating on the stock in a research report on Tuesday, November 5th. Finally, JPMorgan Chase & Co. reduced their target price 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. One investment 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. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus 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.