Mutual of America Capital Management LLC Grows Stock Holdings in Silicon Laboratories Inc. (NASDAQ:SLAB)

Mutual of America Capital Management LLC increased its stake in shares of Silicon Laboratories Inc. (NASDAQ:SLAB) by 6.9% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 34,849 shares of the semiconductor company’s stock after purchasing an additional 2,259 shares during the period. Mutual of America Capital Management LLC owned approximately 0.11% of Silicon Laboratories worth $3,855,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently made changes to their positions in the stock. Vanguard Personalized Indexing Management LLC bought a new position in Silicon Laboratories in the fourth quarter worth approximately $312,000. Norges Bank bought a new position in Silicon Laboratories in the fourth quarter worth approximately $28,907,000. Coldstream Capital Management Inc. raised its position in Silicon Laboratories by 6.9% in the fourth quarter. Coldstream Capital Management Inc. now owns 2,431 shares of the semiconductor company’s stock worth $322,000 after acquiring an additional 157 shares during the period. Hsbc Holdings PLC raised its position in Silicon Laboratories by 390.2% in the fourth quarter. Hsbc Holdings PLC now owns 9,701 shares of the semiconductor company’s stock worth $1,290,000 after acquiring an additional 7,722 shares during the period. Finally, Alberta Investment Management Corp raised its position in Silicon Laboratories by 6.9% in the fourth quarter. Alberta Investment Management Corp now owns 28,418 shares of the semiconductor company’s stock worth $3,759,000 after acquiring an additional 1,829 shares during the period.

Insider Activity at Silicon Laboratories

In related news, SVP Brandon Tolany sold 845 shares of the firm’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $115.00, for a total transaction of $97,175.00. Following the completion of the transaction, the senior vice president now directly owns 43,615 shares of the company’s stock, valued at $5,015,725. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.72% of the stock is currently owned by corporate insiders.

Silicon Laboratories Stock Performance

SLAB opened at $111.76 on Monday. The stock has a market capitalization of $3.61 billion, a price-to-earnings ratio of -33.76 and a beta of 1.19. The company has a fifty day moving average of $110.83 and a 200 day moving average of $120.13. Silicon Laboratories Inc. has a fifty-two week low of $74.56 and a fifty-two week high of $154.91.

Silicon Laboratories (NASDAQ:SLAB) last posted its earnings results on Wednesday, July 24th. The semiconductor company reported ($0.56) earnings per share for the quarter, beating the consensus estimate of ($0.64) by $0.08. The company had revenue of $145.40 million during the quarter, compared to analysts’ expectations of $140.18 million. Silicon Laboratories had a negative net margin of 36.53% and a negative return on equity of 9.13%. Silicon Laboratories’s quarterly revenue was down 40.6% on a year-over-year basis. During the same period last year, the company posted $0.59 earnings per share. On average, equities research analysts forecast that Silicon Laboratories Inc. will post -3.41 earnings per share for the current year.

Analyst Ratings Changes

SLAB has been the topic of several recent research reports. Needham & Company LLC reiterated a “buy” rating and issued a $150.00 price target on shares of Silicon Laboratories in a research report on Thursday, July 25th. StockNews.com upgraded shares of Silicon Laboratories to a “sell” rating in a research report on Tuesday, July 23rd. One research analyst has rated the stock with a sell rating, five have given a hold rating and five have issued a buy rating to the stock. According to MarketBeat, the company currently 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.