Massachusetts Financial Services Co. MA Reduces Stock Position in Silicon Laboratories Inc. (NASDAQ:SLAB)

Massachusetts Financial Services Co. MA decreased its holdings in shares of Silicon Laboratories Inc. (NASDAQ:SLAB - Free Report) by 11.2% in the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 98,988 shares of the semiconductor company's stock after selling 12,480 shares during the period. Massachusetts Financial Services Co. MA owned approximately 0.31% of Silicon Laboratories worth $13,093,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Vanguard Group Inc. increased its stake in Silicon Laboratories by 1.7% in the third quarter. Vanguard Group Inc. now owns 3,285,032 shares of the semiconductor company's stock valued at $380,702,000 after purchasing an additional 55,586 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in Silicon Laboratories by 4.7% during the 4th quarter. Dimensional Fund Advisors LP now owns 641,710 shares of the semiconductor company's stock worth $84,884,000 after buying an additional 28,759 shares during the period. Van Berkom & Associates Inc. raised its stake in Silicon Laboratories by 36.2% during the 3rd quarter. Van Berkom & Associates Inc. now owns 572,762 shares of the semiconductor company's stock worth $66,377,000 after buying an additional 152,269 shares during the period. Federated Hermes Inc. grew its stake in Silicon Laboratories by 6.9% in the fourth quarter. Federated Hermes Inc. now owns 516,484 shares of the semiconductor company's stock valued at $68,315,000 after acquiring an additional 33,357 shares during the period. Finally, Eagle Asset Management Inc. increased its holdings in shares of Silicon Laboratories by 2.7% in the third quarter. Eagle Asset Management Inc. now owns 460,435 shares of the semiconductor company's stock worth $53,360,000 after acquiring an additional 12,174 shares in the last quarter.

Silicon Laboratories Stock Performance

Shares of NASDAQ:SLAB remained flat at $130.19 during trading on Friday. The company's stock had a trading volume of 117,194 shares, compared to its average volume of 380,986. The stock has a market capitalization of $4.16 billion, a PE ratio of -39.33 and a beta of 1.25. Silicon Laboratories Inc. has a 52-week low of $74.56 and a 52-week high of $166.94. The firm has a fifty day simple moving average of $129.40 and a two-hundred day simple moving average of $124.91.

Silicon Laboratories (NASDAQ:SLAB - Get Free Report) last issued its 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 firm had revenue of $106.38 million for the quarter, compared to analyst estimates of $104.45 million. Silicon Laboratories had a negative return on equity of 4.45% and a negative net margin of 16.36%. As a group, sell-side analysts predict that Silicon Laboratories Inc. will post -3.1 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

SLAB has been the subject of a number of research reports. TD Cowen lowered their target price on Silicon Laboratories from $155.00 to $145.00 and set a "buy" rating for the company in a research note on Thursday, April 25th. StockNews.com upgraded shares of Silicon Laboratories to a "sell" rating in a report on Monday, May 13th. JPMorgan Chase & Co. lowered their target price on Silicon Laboratories from $165.00 to $150.00 and set an "overweight" rating for the company in a report on Thursday, April 25th. Barclays cut their price target on Silicon Laboratories from $140.00 to $120.00 and set an "equal weight" rating on the stock in a report on Thursday, April 25th. Finally, Needham & Company LLC raised Silicon Laboratories from a "hold" rating to a "buy" rating and set a $150.00 price objective for the company in a research 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. Based on data from MarketBeat.com, the company has an average rating of "Hold" and an average price target 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.