Vanguard Group Inc. Trims Position in Silicon Laboratories, Inc. (NASDAQ:SLAB)

Key Points

• Vanguard Group Inc. reduced its holdings in Silicon Laboratories by 2.2%, now owning approximately 3.87 million shares valued at about $435.74 million.
• Silicon Laboratories reported a 32.6% year-over-year increase in revenue, earning $0.11 EPS for the latest quarter, exceeding analysts' consensus of $0.09.
• Despite recent strong revenue growth, analysts have mixed ratings on the stock, with a consensus target price of $151.13.

Vanguard Group Inc. lessened its stake in Silicon Laboratories, Inc. (NASDAQ:SLAB - Free Report) by 2.2% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,870,874 shares of the semiconductor company's stock after selling 88,706 shares during the period. Vanguard Group Inc. owned about 11.92% of Silicon Laboratories worth $435,744,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in SLAB. Skandinaviska Enskilda Banken AB publ acquired a new stake in shares of Silicon Laboratories during the 1st quarter worth about $34,000. UMB Bank n.a. boosted its position in Silicon Laboratories by 111.3% during 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 in the last quarter. Parallel Advisors LLC raised its holdings in shares of 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 acquiring an additional 273 shares during the last quarter. Larson Financial Group LLC acquired a new position in shares of Silicon Laboratories in the first quarter worth $55,000. Finally, TD Private Client Wealth LLC increased its stake in Silicon Laboratories by 53.6% in the first quarter. TD Private Client Wealth LLC now owns 914 shares of the semiconductor company's stock valued at $103,000 after purchasing an additional 319 shares during the last quarter.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the company. Benchmark reissued a "buy" rating and issued a $160.00 price target on shares of Silicon Laboratories in a report on Tuesday, May 27th. Morgan Stanley decreased their price target on Silicon Laboratories from $157.00 to $144.00 and set an "equal weight" rating for the company in a research note on Wednesday, August 6th. Needham & Company LLC reaffirmed a "buy" rating and issued a $150.00 target price on shares of Silicon Laboratories in a research report on Wednesday, May 14th. Barclays raised their target price on Silicon Laboratories from $100.00 to $130.00 and gave the company an "equal weight" rating in a report on Tuesday, August 5th. Finally, Susquehanna lifted their target price 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 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, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $151.13.

Silicon Laboratories Trading Down 1.9%

Shares of SLAB stock traded down $2.47 during trading on Friday, reaching $130.67. 290,049 shares of the company's stock traded hands, compared to its average volume of 420,407. The firm's 50-day moving average is $139.31 and its 200 day moving average is $127.83. The company has a market capitalization of $4.29 billion, a P/E ratio of -40.58 and a beta of 1.48. Silicon Laboratories, Inc. has a 1 year low of $82.82 and a 1 year high of $160.00.

Silicon Laboratories (NASDAQ:SLAB - Get Free Report) last released its earnings results on Tuesday, August 5th. The semiconductor company reported $0.11 EPS for the quarter, beating the consensus estimate of $0.09 by $0.02. Silicon Laboratories had a negative net margin of 14.88% and a negative return on equity of 7.21%. The company had revenue of $192.85 million for the quarter, compared to analyst estimates of $192.57 million. During the same quarter last year, the firm earned ($0.56) EPS. The firm's quarterly revenue was up 32.6% compared to the same quarter last year. As a group, sell-side analysts predict 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.