Swiss National Bank Sells 7,300 Shares of Silicon Laboratories Inc. (NASDAQ:SLAB)

Swiss National Bank reduced its stake in shares of Silicon Laboratories Inc. (NASDAQ:SLAB - Free Report) by 10.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 62,800 shares of the semiconductor company's stock after selling 7,300 shares during the quarter. Swiss National Bank owned about 0.20% of Silicon Laboratories worth $8,307,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of the stock. Venturi Wealth Management LLC bought a new stake in shares of Silicon Laboratories during the 3rd quarter worth about $30,000. GAMMA Investing LLC acquired a new stake in Silicon Laboratories in the fourth quarter worth approximately $36,000. CWM LLC boosted its stake in Silicon Laboratories by 78.1% during the 4th quarter. CWM LLC now owns 374 shares of the semiconductor company's stock valued at $49,000 after purchasing an additional 164 shares in the last quarter. Itau Unibanco Holding S.A. acquired a new position in shares of Silicon Laboratories during the 3rd quarter valued at $61,000. Finally, International Assets Investment Management LLC raised its stake in shares of Silicon Laboratories by 429.1% in the 4th quarter. International Assets Investment Management LLC now owns 926 shares of the semiconductor company's stock worth $122,000 after buying an additional 751 shares in the last quarter.

Silicon Laboratories Stock Up 2.8 %

Shares of Silicon Laboratories stock traded up $3.57 during midday trading on Tuesday, hitting $130.66. The company's stock had a trading volume of 210,801 shares, compared to its average volume of 317,892. The stock has a 50-day simple moving average of $130.47 and a 200-day simple moving average of $124.05. Silicon Laboratories Inc. has a 1-year low of $74.56 and a 1-year high of $166.94. The firm has a market capitalization of $4.17 billion, a P/E ratio of -39.47 and a beta of 1.25.

Silicon Laboratories (NASDAQ:SLAB - Get Free Report) last issued its quarterly earnings results on Wednesday, April 24th. The semiconductor company reported ($1.34) earnings per share for the quarter, missing analysts' consensus estimates of ($1.29) by ($0.05). The company had revenue of $106.38 million during the quarter, compared to the consensus estimate of $104.45 million. Silicon Laboratories had a negative net margin of 16.36% and a negative return on equity of 4.45%. As a group, sell-side analysts predict that Silicon Laboratories Inc. will post -3.1 earnings per share for the current year.

Analyst Ratings Changes

Several research analysts recently weighed in on the company. Citigroup decreased their target price on Silicon Laboratories from $137.00 to $120.00 and set a "neutral" rating for the company in a research note on Thursday, April 25th. Needham & Company LLC raised shares of Silicon Laboratories from a "hold" rating to a "buy" rating and set a $150.00 price objective on the stock in a research note on Thursday, April 25th. Summit Insights lowered shares of Silicon Laboratories from a "buy" rating to a "hold" rating in a research note on Wednesday, April 24th. Benchmark restated a "hold" rating on shares of Silicon Laboratories in a report on Thursday, April 25th. Finally, TD Cowen dropped their price target on Silicon Laboratories from $155.00 to $145.00 and set a "buy" rating on the stock in a report on Thursday, April 25th. One research analyst has rated the stock with a sell rating, six have given a hold rating and five have issued a buy rating to the company. According to MarketBeat, the stock has an average rating of "Hold" and an average target price of $135.00.

Silicon Laboratories Company 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.