Rhumbline Advisers Buys 292 Shares of Silicon Laboratories Inc. (NASDAQ:SLAB)

Rhumbline Advisers raised its position in shares of Silicon Laboratories Inc. (NASDAQ:SLAB) by 0.3% during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 100,786 shares of the semiconductor company’s stock after acquiring an additional 292 shares during the period. Rhumbline Advisers owned approximately 0.31% of Silicon Laboratories worth $11,150,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. raised its position in Silicon Laboratories by 0.7% in the 1st quarter. Vanguard Group Inc. now owns 3,489,160 shares of the semiconductor company’s stock worth $501,462,000 after purchasing an additional 24,997 shares during the period. Capital Research Global Investors raised its holdings in shares of Silicon Laboratories by 29.9% in the first 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 lifted its stake in shares of 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 acquiring an additional 28,759 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in Silicon Laboratories by 8.1% during 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 acquiring an additional 33,979 shares during the period. Finally, Pathstone Holdings LLC bought a new position in Silicon Laboratories in the 4th quarter valued at $58,205,000.

Silicon Laboratories Stock Performance

NASDAQ SLAB opened at $107.86 on Thursday. The company’s 50-day simple moving average is $111.53 and its two-hundred day simple moving average is $121.67. Silicon Laboratories Inc. has a one year low of $74.56 and a one year high of $154.91. The company has a market capitalization of $3.48 billion, a price-to-earnings ratio of -32.59 and a beta of 1.19.

Silicon Laboratories (NASDAQ:SLAB) last issued its quarterly earnings data on Wednesday, July 24th. The semiconductor company reported ($0.56) EPS for the quarter, topping 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 company had revenue of $145.40 million during the quarter, compared to the consensus estimate of $140.18 million. During the same quarter in the previous year, the firm posted $0.59 earnings per share. Silicon Laboratories’s revenue for the quarter was down 40.6% compared to the same quarter last year. Equities analysts expect that Silicon Laboratories Inc. will post -3.4 earnings per share for the current fiscal year.

Insider Buying and Selling at Silicon Laboratories

In other news, SVP Brandon Tolany sold 845 shares of Silicon Laboratories stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $115.00, for a total value of $97,175.00. Following the transaction, the senior vice president now owns 43,615 shares of the company’s stock, valued at approximately $5,015,725. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 1.72% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on SLAB shares. Needham & Company LLC reissued a “buy” rating and set a $150.00 target price on shares of Silicon Laboratories in a research note 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 assigned a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus 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.