Allspring Global Investments Holdings LLC Sells 23,452 Shares of Silicon Laboratories Inc. (NASDAQ:SLAB)

Allspring Global Investments Holdings LLC trimmed its position in Silicon Laboratories Inc. (NASDAQ:SLAB) by 37.6% during the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 38,945 shares of the semiconductor company’s stock after selling 23,452 shares during the quarter. Allspring Global Investments Holdings LLC owned approximately 0.12% of Silicon Laboratories worth $4,308,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Vanguard Group Inc. lifted its position in shares of Silicon Laboratories by 0.7% in the first quarter. Vanguard Group Inc. now owns 3,489,160 shares of the semiconductor company’s stock valued at $501,462,000 after buying an additional 24,997 shares during the last quarter. Capital Research Global Investors boosted its holdings in shares of Silicon Laboratories by 29.9% during the 1st quarter. Capital Research Global Investors now owns 1,217,939 shares of the semiconductor company’s stock worth $175,042,000 after buying an additional 280,000 shares during the period. Dimensional Fund Advisors LP grew its stake in Silicon Laboratories by 4.7% in the 4th quarter. Dimensional Fund Advisors LP now owns 641,710 shares of the semiconductor company’s stock valued at $84,884,000 after buying an additional 28,759 shares during the last quarter. Charles Schwab Investment Management Inc. grew its stake in Silicon Laboratories by 8.1% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 451,082 shares of the semiconductor company’s stock valued at $59,665,000 after buying an additional 33,979 shares during the last quarter. Finally, Pathstone Holdings LLC bought a new position in Silicon Laboratories in the 4th quarter valued at about $58,205,000.

Silicon Laboratories Stock Down 0.2 %

Shares of Silicon Laboratories stock opened at $118.37 on Monday. The firm’s 50-day moving average price is $111.86 and its two-hundred day moving average price is $123.21. The company has a market capitalization of $3.82 billion, a price-to-earnings ratio of -35.76 and a beta of 1.19. Silicon Laboratories Inc. has a 12-month low of $74.56 and a 12-month high of $154.91.

Silicon Laboratories (NASDAQ:SLAB) last announced its quarterly earnings data on Wednesday, July 24th. The semiconductor company reported ($0.56) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.64) by $0.08. Silicon Laboratories had a negative net margin of 36.53% and a negative return on equity of 9.13%. The business had revenue of $145.40 million for the quarter, compared to analysts’ expectations of $140.18 million. During the same period last year, the firm posted $0.59 earnings per share. The firm’s quarterly revenue was down 40.6% compared to the same quarter last year. On average, sell-side analysts expect that Silicon Laboratories Inc. will post -3.4 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on SLAB. Needham & Company LLC reaffirmed a “buy” rating and issued a $150.00 price objective on shares of Silicon Laboratories in a report on Thursday, July 25th. StockNews.com upgraded shares of Silicon Laboratories to a “sell” rating in a research note on Tuesday, July 23rd. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $135.00.

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.