Silicon Laboratories Inc. (NASDAQ:SLAB) Shares Acquired by Federated Hermes Inc.

Federated Hermes Inc. increased its holdings in Silicon Laboratories Inc. (NASDAQ:SLAB - Free Report) by 6.9% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 516,484 shares of the semiconductor company's stock after purchasing an additional 33,357 shares during the quarter. Federated Hermes Inc. owned 1.63% of Silicon Laboratories worth $68,315,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the business. Park Avenue Securities LLC purchased a new position in shares of Silicon Laboratories during the 3rd quarter valued at approximately $339,000. Venturi Wealth Management LLC purchased a new position in Silicon Laboratories during the third quarter valued at $30,000. Schonfeld Strategic Advisors LLC acquired a new stake in shares of Silicon Laboratories in the third quarter valued at about $3,652,000. Envestnet Asset Management Inc. grew its position in shares of Silicon Laboratories by 37.2% in the third quarter. Envestnet Asset Management Inc. now owns 90,289 shares of the semiconductor company's stock valued at $10,464,000 after purchasing an additional 24,468 shares during the period. Finally, Quantbot Technologies LP raised its position in shares of Silicon Laboratories by 72.6% during the 3rd quarter. Quantbot Technologies LP now owns 6,998 shares of the semiconductor company's stock worth $811,000 after purchasing an additional 2,944 shares during the last quarter.

Analysts Set New Price Targets

SLAB has been the subject of several research reports. StockNews.com lowered Silicon Laboratories from a "hold" rating to a "sell" rating in a research note on Friday, December 29th. Stifel Nicolaus increased their price objective on Silicon Laboratories from $136.00 to $155.00 and gave the company a "buy" rating in a research note on Tuesday, January 2nd. Barclays lifted their target price 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. JPMorgan Chase & Co. upped their target price on shares of Silicon Laboratories from $145.00 to $165.00 and gave the stock an "overweight" rating in a report on Thursday, February 8th. Finally, TD Cowen raised their price target on shares of Silicon Laboratories from $140.00 to $155.00 and gave the stock an "outperform" rating in a research note on Thursday, February 8th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and four have given a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $143.29.

Silicon Laboratories Stock Down 2.0 %

Shares of SLAB traded down $2.31 during midday trading on Friday, reaching $115.19. The company had a trading volume of 516,513 shares, compared to its average volume of 300,156. Silicon Laboratories Inc. has a 1-year low of $74.56 and a 1-year high of $169.76. The firm has a 50 day simple moving average of $135.65 and a 200-day simple moving average of $121.94. The stock has a market cap of $3.68 billion, a PE ratio of -101.94 and a beta of 1.27.

Silicon Laboratories (NASDAQ:SLAB - Get Free Report) last released its quarterly earnings data on Wednesday, February 7th. The semiconductor company reported ($1.46) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.91) by $0.45. Silicon Laboratories had a negative net margin of 4.41% and a positive return on equity of 0.97%. The firm had revenue of $86.85 million during the quarter, compared to analysts' expectations of $85.32 million. As a group, sell-side analysts anticipate that Silicon Laboratories Inc. will post -1.66 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.