Federated Hermes Inc. Lowers Position in Silicon Laboratories, Inc. (NASDAQ:SLAB)

Federated Hermes Inc. trimmed its position in shares of Silicon Laboratories, Inc. (NASDAQ:SLAB - Free Report) by 13.7% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 550,692 shares of the semiconductor company's stock after selling 87,772 shares during the quarter. Federated Hermes Inc. owned 1.70% of Silicon Laboratories worth $61,991,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Coldstream Capital Management Inc. lifted its position in shares of Silicon Laboratories by 2.8% during the fourth quarter. Coldstream Capital Management Inc. now owns 2,473 shares of the semiconductor company's stock worth $307,000 after purchasing an additional 68 shares during the last quarter. Oregon Public Employees Retirement Fund raised its holdings in shares of Silicon Laboratories by 1.5% in the first quarter. Oregon Public Employees Retirement Fund now owns 6,668 shares of the semiconductor company's stock valued at $751,000 after acquiring an additional 100 shares in the last quarter. State of Michigan Retirement System raised its holdings in shares of Silicon Laboratories by 1.3% in the first quarter. State of Michigan Retirement System now owns 7,797 shares of the semiconductor company's stock valued at $878,000 after acquiring an additional 100 shares in the last quarter. Louisiana State Employees Retirement System raised its holdings in shares of Silicon Laboratories by 1.1% in the first quarter. Louisiana State Employees Retirement System now owns 9,100 shares of the semiconductor company's stock valued at $1,024,000 after acquiring an additional 100 shares in the last quarter. Finally, Securian Asset Management Inc. raised its holdings in shares of Silicon Laboratories by 4.2% in the first quarter. Securian Asset Management Inc. now owns 2,498 shares of the semiconductor company's stock valued at $281,000 after acquiring an additional 100 shares in the last quarter.

Silicon Laboratories Price Performance

NASDAQ SLAB traded down $3.00 during mid-day trading on Friday, hitting $128.77. The stock had a trading volume of 477,561 shares, compared to its average volume of 408,111. The firm's 50 day moving average is $138.15 and its 200 day moving average is $128.43. Silicon Laboratories, Inc. has a twelve month low of $82.82 and a twelve month high of $160.00. The stock has a market capitalization of $4.19 billion, a price-to-earnings ratio of -25.20 and a beta of 1.47.

Silicon Laboratories (NASDAQ:SLAB - Get Free Report) last posted its quarterly earnings data on Tuesday, May 13th. The semiconductor company reported ($0.08) EPS for the quarter, beating the consensus estimate of ($0.09) by $0.01. Silicon Laboratories had a negative return on equity of 8.80% and a negative net margin of 25.16%. The firm had revenue of $177.71 million during the quarter, compared to the consensus estimate of $177.48 million. During the same period in the prior year, the company earned ($0.92) EPS. The firm's revenue was up 67.0% compared to the same quarter last year. As a group, equities research analysts expect that Silicon Laboratories, Inc. will post -0.97 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on SLAB. Susquehanna lifted their price objective on Silicon Laboratories from $110.00 to $150.00 and gave the company a "neutral" rating in a report on Tuesday, July 22nd. Barclays dropped their price target on Silicon Laboratories from $120.00 to $80.00 and set an "equal weight" rating on the stock in a research note on Tuesday, April 22nd. Wall Street Zen upgraded Silicon Laboratories from a "sell" rating to a "hold" rating in a research note on Wednesday, May 14th. Needham & Company LLC reiterated a "buy" rating and issued a $150.00 target price on shares of Silicon Laboratories in a research report on Wednesday, May 14th. Finally, Benchmark restated a "buy" rating and issued a $160.00 price objective on shares of Silicon Laboratories in a research report on Tuesday, May 27th. Four equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $139.00.

Insider Activity at Silicon Laboratories

In other Silicon Laboratories news, Director Christy Wyatt sold 546 shares of the company's stock in a transaction on Tuesday, May 6th. The stock was sold at an average price of $104.45, for a total value of $57,029.70. Following the completion of the sale, the director directly owned 8,492 shares in the company, valued at $886,989.40. This represents a 6.04% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Robert Matthew Johnson sold 5,879 shares of the company's stock in a transaction on Friday, May 16th. The shares were sold at an average price of $131.20, for a total value of $771,324.80. Following the completion of the sale, the chief executive officer owned 73,688 shares of the company's stock, valued at approximately $9,667,865.60. The trade was a 7.39% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 11,626 shares of company stock valued at $1,509,319. 1.60% of the stock is owned by 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.