New York State Teachers Retirement System Sells 3,200 Shares of Silicon Laboratories Inc. (NASDAQ:SLAB)

New York State Teachers Retirement System decreased its stake in shares of Silicon Laboratories Inc. (NASDAQ:SLAB) by 8.1% in the third quarter, HoldingsChannel reports. The institutional investor owned 36,456 shares of the semiconductor company’s stock after selling 3,200 shares during the period. New York State Teachers Retirement System’s holdings in Silicon Laboratories were worth $4,213,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in the business. Harbor Capital Advisors Inc. increased its position in Silicon Laboratories by 8.5% during the 2nd quarter. Harbor Capital Advisors Inc. now owns 1,292 shares of the semiconductor company’s stock valued at $143,000 after purchasing an additional 101 shares during the period. Orion Portfolio Solutions LLC grew its position 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 purchasing an additional 103 shares during the last quarter. Victory Capital Management Inc. lifted its stake in Silicon Laboratories by 2.3% during the 2nd 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 period. Arizona State Retirement System lifted its stake in Silicon Laboratories by 2.3% during the 2nd quarter. Arizona State Retirement System now owns 8,936 shares of the semiconductor company’s stock valued at $989,000 after acquiring an additional 202 shares during the period. Finally, GAMMA Investing LLC lifted its stake in Silicon Laboratories by 84.1% during the 3rd quarter. GAMMA Investing LLC now owns 497 shares of the semiconductor company’s stock valued at $57,000 after acquiring an additional 227 shares during the period.

Insider Activity at Silicon Laboratories

In other Silicon Laboratories news, SVP Brandon Tolany sold 845 shares of the company’s 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 transaction, the senior vice president now owns 43,615 shares of the company’s stock, valued at $5,015,725. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. 1.72% of the stock is currently owned by insiders.

Silicon Laboratories Trading Up 10.8 %

Shares of SLAB opened at $115.70 on Thursday. Silicon Laboratories Inc. has a 12-month low of $91.37 and a 12-month high of $154.91. The firm has a 50-day moving average price of $112.29 and a 200 day moving average price of $115.48. The firm has a market capitalization of $3.74 billion, a P/E ratio of -14.12 and a beta of 1.20.

Silicon Laboratories (NASDAQ:SLAB) last announced its quarterly earnings data on Monday, November 4th. The semiconductor company reported ($0.13) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.20) by $0.07. Silicon Laboratories had a negative net margin of 46.93% and a negative return on equity of 12.40%. The firm had revenue of $166.00 million during the quarter, compared to analyst estimates of $165.50 million. During the same quarter in the prior year, the firm posted $0.48 earnings per share. Silicon Laboratories’s quarterly revenue was down 18.5% on a year-over-year basis. Equities research analysts predict that Silicon Laboratories Inc. will post -3.41 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

SLAB has been the subject of several research reports. Morgan Stanley decreased their price objective on shares of Silicon Laboratories from $123.00 to $97.00 and set an “equal weight” rating for the company in a research note on Tuesday. KeyCorp decreased their price objective on shares of Silicon Laboratories from $150.00 to $115.00 and set an “overweight” rating for the company in a research note on Tuesday. Stifel Nicolaus decreased their target price on shares of Silicon Laboratories from $160.00 to $135.00 and set a “buy” rating for the company in a research note on Tuesday. JPMorgan Chase & Co. decreased their target price on shares of Silicon Laboratories from $150.00 to $135.00 and set an “overweight” rating for the company in a research note on Tuesday. Finally, Barclays decreased their target price on shares of Silicon Laboratories from $120.00 to $75.00 and set an “equal weight” rating for the company in a research note on Tuesday. One research analyst has rated the stock with a sell rating, five have given a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $121.50.

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.