Allspring Global Investments Holdings LLC reduced its stake in Silicon Laboratories Inc. (NASDAQ:SLAB - Free Report) by 45.9% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 55,316 shares of the semiconductor company's stock after selling 46,936 shares during the period. Allspring Global Investments Holdings LLC owned approximately 0.17% of Silicon Laboratories worth $7,317,000 as of its most recent SEC filing.
Other institutional investors and hedge funds also recently bought and sold shares of the company. Venturi Wealth Management LLC bought a new stake in Silicon Laboratories in the 3rd quarter valued at $30,000. Belpointe Asset Management LLC grew its stake in shares of Silicon Laboratories by 72.5% in the 1st quarter. Belpointe Asset Management LLC now owns 207 shares of the semiconductor company's stock worth $36,000 after buying an additional 87 shares in the last quarter. Live Oak Investment Partners purchased a new position in shares of Silicon Laboratories in the 4th quarter worth $39,000. Global Retirement Partners LLC grew its stake in shares of Silicon Laboratories by 31.7% in the 3rd quarter. Global Retirement Partners LLC now owns 507 shares of the semiconductor company's stock worth $58,000 after buying an additional 122 shares in the last quarter. Finally, Itau Unibanco Holding S.A. purchased a new position in shares of Silicon Laboratories in the 3rd quarter worth $61,000.
Wall Street Analyst Weigh In
A number of brokerages have commented on SLAB. Barclays lifted their price objective on shares of Silicon Laboratories from $120.00 to $140.00 and gave the stock an "equal weight" rating in a research note on Thursday, February 8th. TD Cowen boosted their price objective on shares of Silicon Laboratories from $140.00 to $155.00 and gave the company an "outperform" rating in a research report on Thursday, February 8th. StockNews.com cut shares of Silicon Laboratories from a "hold" rating to a "sell" rating in a research report on Friday, December 29th. Stifel Nicolaus boosted their price objective on shares of Silicon Laboratories from $136.00 to $155.00 and gave the company a "buy" rating in a research report on Tuesday, January 2nd. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Silicon Laboratories from $145.00 to $165.00 and gave the company an "overweight" rating in a research report on Thursday, February 8th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and four have issued a buy rating to the stock. According to MarketBeat, Silicon Laboratories currently has a consensus rating of "Hold" and an average price target of $143.29.
Get Our Latest Stock Analysis on Silicon Laboratories
Silicon Laboratories Price Performance
Silicon Laboratories stock traded down $4.03 during mid-day trading on Thursday, reaching $117.50. 501,791 shares of the company traded hands, compared to its average volume of 297,272. Silicon Laboratories Inc. has a fifty-two week low of $74.56 and a fifty-two week high of $171.47. The company has a market capitalization of $3.75 billion, a price-to-earnings ratio of -107.55 and a beta of 1.27. The firm's fifty day moving average is $136.59 and its two-hundred day moving average is $121.98.
Silicon Laboratories (NASDAQ:SLAB - Get Free Report) last issued its quarterly earnings results on Wednesday, February 7th. The semiconductor company reported ($1.46) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($1.91) by $0.45. The business had revenue of $86.85 million for the quarter, compared to analyst estimates of $85.32 million. Silicon Laboratories had a negative net margin of 4.41% and a positive return on equity of 0.97%. As a group, equities research analysts predict that Silicon Laboratories Inc. will post -1.66 earnings per share for the current year.
About Silicon Laboratories
(
Free Report)
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.
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