LPL Financial LLC Boosts Stock Position in Silicon Laboratories, Inc. (NASDAQ:SLAB)

Key Points

• LPL Financial LLC increased its holdings in Silicon Laboratories by 7.1% during the 1st quarter, now owning 33,150 shares worth approximately $3.4 million.
• Various hedge funds have shown interest in Silicon Laboratories, with UMB Bank n.a. and Parallel Advisors LLC boosting their positions significantly by 111.3% and 143.7% respectively during the same period.
• Analysts have mixed views on Silicon Laboratories' stock, with price targets ranging from $144.00 to $180.00, and a current consensus rating of "Moderate Buy."

LPL Financial LLC boosted its holdings in Silicon Laboratories, Inc. (NASDAQ:SLAB - Free Report) by 7.1% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 33,150 shares of the semiconductor company's stock after purchasing an additional 2,208 shares during the period. LPL Financial LLC owned about 0.10% of Silicon Laboratories worth $3,404,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Skandinaviska Enskilda Banken AB publ purchased a new position in Silicon Laboratories in the first quarter worth $34,000. UMB Bank n.a. boosted its position in Silicon Laboratories by 111.3% in the first quarter. UMB Bank n.a. now owns 336 shares of the semiconductor company's stock worth $38,000 after purchasing an additional 177 shares during the last quarter. Parallel Advisors LLC boosted its position in Silicon Laboratories by 143.7% in the first quarter. Parallel Advisors LLC now owns 463 shares of the semiconductor company's stock worth $52,000 after purchasing an additional 273 shares during the last quarter. Larson Financial Group LLC purchased a new position in shares of Silicon Laboratories during the 1st quarter valued at $55,000. Finally, TD Private Client Wealth LLC lifted its position in shares of Silicon Laboratories by 53.6% during the 1st quarter. TD Private Client Wealth LLC now owns 914 shares of the semiconductor company's stock valued at $103,000 after buying an additional 319 shares during the last quarter.

Analysts Set New Price Targets

A number of research analysts have recently commented on SLAB shares. Benchmark reaffirmed a "buy" rating and set a $160.00 price target on shares of Silicon Laboratories in a research report on Tuesday, May 27th. KeyCorp upped their price target on Silicon Laboratories from $160.00 to $180.00 and gave the company an "overweight" rating in a research report on Tuesday, July 8th. Morgan Stanley dropped their price target on Silicon Laboratories from $157.00 to $144.00 and set an "equal weight" rating on the stock in a research report on Wednesday, August 6th. Stifel Nicolaus upped their price target on Silicon Laboratories from $144.00 to $160.00 and gave the company a "buy" rating in a research report on Friday, July 18th. Finally, Wall Street Zen raised Silicon Laboratories from a "sell" rating to a "hold" rating in a research report on Wednesday, May 14th. Four investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $151.13.

Silicon Laboratories Stock Performance

Shares of SLAB opened at $130.67 on Friday. The stock's 50-day simple moving average is $139.31 and its 200 day simple moving average is $127.92. The stock has a market capitalization of $4.29 billion, a price-to-earnings ratio of -40.58 and a beta of 1.48. Silicon Laboratories, Inc. has a 52-week low of $82.82 and a 52-week high of $160.00.

Silicon Laboratories (NASDAQ:SLAB - Get Free Report) last issued its quarterly earnings data on Tuesday, August 5th. The semiconductor company reported $0.11 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.09 by $0.02. The business had revenue of $192.85 million for the quarter, compared to analysts' expectations of $192.57 million. Silicon Laboratories had a negative return on equity of 7.21% and a negative net margin of 14.88%. The firm's quarterly revenue was up 32.6% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($0.56) EPS. On average, research analysts forecast that Silicon Laboratories, Inc. will post -0.97 earnings per share for the current fiscal 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.