PNC Financial Services Group Inc. Has $485,000 Holdings in Silicon Laboratories, Inc. $SLAB

Key Points

• PNC Financial Services Group Inc. increased its stake in Silicon Laboratories by 119.6%, acquiring an additional 2,347 shares and bringing its total holdings to 4,310 shares valued at $485,000.
• Multiple firms have reaffirmed a "buy" rating for Silicon Laboratories, with price targets ranging from $150.00 to $180.00, indicating analyst confidence in the company's performance.
• Insider trading activity includes CEO Robert Matthew Johnson and SVP Robert J. Conrad selling shares, resulting in a decrease of 7.39% and 13.70% in their ownership, respectively.

PNC Financial Services Group Inc. raised its stake in shares of Silicon Laboratories, Inc. (NASDAQ:SLAB - Free Report) by 119.6% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 4,310 shares of the semiconductor company's stock after buying an additional 2,347 shares during the period. PNC Financial Services Group Inc.'s holdings in Silicon Laboratories were worth $485,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Capital Research Global Investors boosted its holdings in Silicon Laboratories by 23.3% during the fourth quarter. Capital Research Global Investors now owns 2,131,920 shares of the semiconductor company's stock worth $264,827,000 after buying an additional 403,010 shares in the last quarter. Mackenzie Financial Corp grew its stake in Silicon Laboratories by 11,746.2% in the 1st quarter. Mackenzie Financial Corp now owns 236,924 shares of the semiconductor company's stock valued at $26,671,000 after buying an additional 234,924 shares during the last quarter. GAMMA Investing LLC lifted its position in Silicon Laboratories by 22,374.1% in the first quarter. GAMMA Investing LLC now owns 126,754 shares of the semiconductor company's stock worth $14,269,000 after purchasing an additional 126,190 shares during the period. Raymond James Financial Inc. bought a new position in Silicon Laboratories in the fourth quarter worth $14,252,000. Finally, Silvercrest Asset Management Group LLC boosted its stake in Silicon Laboratories by 45.7% during the fourth quarter. Silvercrest Asset Management Group LLC now owns 232,208 shares of the semiconductor company's stock worth $28,845,000 after buying an additional 72,783 shares in the last quarter.

Silicon Laboratories Stock Performance

SLAB traded up $1.87 during mid-day trading on Monday, reaching $132.54. The stock had a trading volume of 41,924 shares, compared to its average volume of 409,113. The firm's fifty day simple moving average is $139.31 and its two-hundred day simple moving average is $127.83. The stock has a market capitalization of $4.35 billion, a P/E ratio of -41.09 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 posted its quarterly earnings results on Tuesday, August 5th. The semiconductor company reported $0.11 earnings per share (EPS) for the quarter, beating the consensus estimate 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% compared to the same quarter last year. During the same quarter last year, the business earned ($0.56) earnings per share. As a group, analysts expect that Silicon Laboratories, Inc. will post -0.97 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on SLAB. Needham & Company LLC reissued a "buy" rating and issued a $150.00 price target on shares of Silicon Laboratories in a research report on Wednesday, May 14th. Benchmark reissued a "buy" rating and set a $160.00 price objective on shares of Silicon Laboratories in a report on Tuesday, May 27th. Stifel Nicolaus increased their target price on shares of Silicon Laboratories from $144.00 to $160.00 and gave the stock a "buy" rating in a research report on Friday, July 18th. KeyCorp boosted their price target on shares of Silicon Laboratories from $160.00 to $180.00 and gave the company an "overweight" rating in a research report on Tuesday, July 8th. Finally, Susquehanna increased their price target on Silicon Laboratories from $110.00 to $150.00 and gave the stock a "neutral" rating in a research report on Tuesday, July 22nd. Four equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company's stock. According to MarketBeat.com, Silicon Laboratories currently has a consensus rating of "Moderate Buy" and a consensus target price of $151.13.

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.