Profund Advisors LLC Sells 105 Shares of Silicon Laboratories Inc. (NASDAQ:SLAB)

Profund Advisors LLC trimmed its holdings in shares of Silicon Laboratories Inc. (NASDAQ:SLAB) by 2.7% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 3,793 shares of the semiconductor company’s stock after selling 105 shares during the quarter. Profund Advisors LLC’s holdings in Silicon Laboratories were worth $420,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Vanguard Group Inc. grew its position in shares of Silicon Laboratories by 0.7% during the 1st quarter. Vanguard Group Inc. now owns 3,489,160 shares of the semiconductor company’s stock valued at $501,462,000 after acquiring an additional 24,997 shares during the period. Capital Research Global Investors grew its holdings in Silicon Laboratories by 29.9% during the first quarter. Capital Research Global Investors now owns 1,217,939 shares of the semiconductor company’s stock valued at $175,042,000 after purchasing an additional 280,000 shares during the period. Dimensional Fund Advisors LP grew its holdings in Silicon Laboratories by 2.0% during the second quarter. Dimensional Fund Advisors LP now owns 639,065 shares of the semiconductor company’s stock valued at $70,699,000 after purchasing an additional 12,680 shares during the period. Van Berkom & Associates Inc. increased its position in Silicon Laboratories by 8.4% in the second quarter. Van Berkom & Associates Inc. now owns 609,232 shares of the semiconductor company’s stock worth $67,399,000 after buying an additional 47,058 shares in the last quarter. Finally, Federated Hermes Inc. raised its stake in shares of Silicon Laboratories by 2.2% in the second quarter. Federated Hermes Inc. now owns 545,833 shares of the semiconductor company’s stock worth $60,386,000 after buying an additional 11,981 shares during the period.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on SLAB. StockNews.com upgraded Silicon Laboratories to a “sell” rating in a research note on Tuesday, July 23rd. 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. One analyst has rated the stock with a sell rating, five have assigned 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 target price of $135.00.

Silicon Laboratories Stock Performance

SLAB opened at $117.88 on Friday. The stock has a market capitalization of $3.81 billion, a price-to-earnings ratio of -35.61 and a beta of 1.19. The company has a fifty day moving average of $110.35 and a 200 day moving average of $119.56. 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 issued its quarterly earnings data on Wednesday, July 24th. The semiconductor company reported ($0.56) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.64) by $0.08. Silicon Laboratories had a negative return on equity of 9.13% and a negative net margin of 36.53%. The business had revenue of $145.40 million for the quarter, compared to analysts’ expectations of $140.18 million. During the same period in the prior year, the firm earned $0.59 EPS. The company’s revenue for the quarter was down 40.6% on a year-over-year basis. On average, equities research analysts forecast that Silicon Laboratories Inc. will post -3.41 earnings per share for the current year.

Insider Transactions at Silicon Laboratories

In related news, SVP Brandon Tolany sold 845 shares of the stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $115.00, for a total value of $97,175.00. Following the completion of 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 hyperlink. Insiders own 1.72% of the company’s stock.

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.