Handelsbanken Fonder AB Boosts Holdings in Silicon Laboratories Inc. (NASDAQ:SLAB)

Handelsbanken Fonder AB lifted its position in shares of Silicon Laboratories Inc. (NASDAQ:SLAB) by 41.0% during the third quarter, HoldingsChannel reports. The firm owned 9,637 shares of the semiconductor company’s stock after purchasing an additional 2,800 shares during the quarter. Handelsbanken Fonder AB’s holdings in Silicon Laboratories were worth $1,114,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in the company. CWM LLC grew its stake in shares of Silicon Laboratories by 185.0% during the second quarter. CWM LLC now owns 8,435 shares of the semiconductor company’s stock valued at $933,000 after acquiring an additional 5,475 shares in the last quarter. Natixis purchased a new stake in Silicon Laboratories during the 1st quarter worth approximately $647,000. Vanguard Group Inc. increased its holdings in Silicon Laboratories by 0.7% during 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 last quarter. SG Americas Securities LLC raised its position in shares of Silicon Laboratories by 284.6% in the 2nd quarter. SG Americas Securities LLC now owns 7,076 shares of the semiconductor company’s stock valued at $783,000 after purchasing an additional 5,236 shares in the last quarter. Finally, Russell Investments Group Ltd. boosted its stake in shares of Silicon Laboratories by 31.7% during the 1st quarter. Russell Investments Group Ltd. now owns 52,578 shares of the semiconductor company’s stock valued at $7,557,000 after buying an additional 12,667 shares during the last quarter.

Analysts Set New Price Targets

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

Silicon Laboratories Trading Up 3.0 %

Shares of NASDAQ SLAB opened at $115.50 on Friday. The company has a market cap of $3.73 billion, a price-to-earnings ratio of -18.63 and a beta of 1.19. The stock’s 50 day simple moving average is $110.17 and its 200 day simple moving average is $117.97. Silicon Laboratories Inc. has a 12-month low of $74.56 and a 12-month high of $154.91.

Silicon Laboratories (NASDAQ:SLAB) last released its quarterly earnings data on Wednesday, July 24th. The semiconductor company reported ($0.56) earnings per share 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 business had revenue of $145.40 million for the quarter, compared to analysts’ expectations of $140.18 million. During the same quarter last year, the company earned $0.59 EPS. The company’s revenue for the quarter was down 40.6% compared to the same quarter last year. As a group, equities analysts forecast that Silicon Laboratories Inc. will post -3.41 earnings per share for the current fiscal year.

Insider Transactions at Silicon Laboratories

In related news, SVP Brandon Tolany sold 845 shares of the firm’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $115.00, for a total value of $97,175.00. Following the sale, the senior vice president now directly owns 43,615 shares in the company, valued at $5,015,725. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 1.72% of the company’s stock.

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.