Silicon Laboratories Inc. (NASDAQ:SLAB) Shares Acquired by Procyon Advisors LLC

Procyon Advisors LLC lifted its holdings in shares of Silicon Laboratories Inc. (NASDAQ:SLAB) by 44.9% during the 3rd quarter, Holdings Channel.com reports. The fund owned 3,043 shares of the semiconductor company’s stock after buying an additional 943 shares during the period. Procyon Advisors LLC’s holdings in Silicon Laboratories were worth $352,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in the business. Harbor Capital Advisors Inc. raised its holdings in Silicon Laboratories by 8.5% during the second quarter. Harbor Capital Advisors Inc. now owns 1,292 shares of the semiconductor company’s stock worth $143,000 after purchasing an additional 101 shares in the last quarter. Orion Portfolio Solutions LLC raised its stake in Silicon Laboratories by 1.1% during the 1st quarter. Orion Portfolio Solutions LLC now owns 9,858 shares of the semiconductor company’s stock worth $1,417,000 after acquiring an additional 103 shares in the last quarter. Victory Capital Management Inc. lifted its position in Silicon Laboratories by 2.3% in the second quarter. Victory Capital Management Inc. now owns 6,638 shares of the semiconductor company’s stock valued at $734,000 after acquiring an additional 150 shares during the last quarter. State of Michigan Retirement System boosted its stake in Silicon Laboratories by 2.6% in the first quarter. State of Michigan Retirement System now owns 7,797 shares of the semiconductor company’s stock valued at $1,121,000 after acquiring an additional 200 shares in the last quarter. Finally, Arizona State Retirement System grew its holdings in shares of Silicon Laboratories by 2.3% during the second quarter. Arizona State Retirement System now owns 8,936 shares of the semiconductor company’s stock worth $989,000 after purchasing an additional 202 shares during the last quarter.

Silicon Laboratories Price Performance

NASDAQ:SLAB opened at $115.27 on Thursday. The firm has a market cap of $3.68 billion, a price-to-earnings ratio of -34.82 and a beta of 1.19. The firm’s fifty day moving average price is $111.18 and its 200 day moving average price is $117.29. Silicon Laboratories Inc. has a 1-year low of $74.56 and a 1-year high of $154.91.

Silicon Laboratories (NASDAQ:SLAB) last issued its quarterly earnings results on Wednesday, July 24th. The semiconductor company reported ($0.56) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.64) by $0.08. The business had revenue of $145.40 million for the quarter, compared to analyst estimates of $140.18 million. Silicon Laboratories had a negative net margin of 36.53% and a negative return on equity of 9.13%. The business’s revenue was down 40.6% compared to the same quarter last year. During the same period in the previous year, the business posted $0.59 earnings per share. As a group, analysts expect 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 Silicon Laboratories 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. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 1.72% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently weighed in on SLAB shares. Needham & Company LLC reissued a “buy” rating and issued a $150.00 target price on shares of Silicon Laboratories in a report on Thursday, July 25th. StockNews.com raised Silicon Laboratories to a “sell” rating in a report on Tuesday, July 23rd. One 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 MarketBeat, Silicon Laboratories currently has an average 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.