Thrivent Financial for Lutherans Increases Position in Silicon Laboratories Inc. (NASDAQ:SLAB)

Thrivent Financial for Lutherans increased its stake in shares of Silicon Laboratories Inc. (NASDAQ:SLAB) by 10.4% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 131,548 shares of the semiconductor company’s stock after buying an additional 12,435 shares during the period. Thrivent Financial for Lutherans’ holdings in Silicon Laboratories were worth $15,203,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Cullen Frost Bankers Inc. purchased a new stake in shares of Silicon Laboratories during the 2nd quarter worth approximately $28,000. GAMMA Investing LLC raised its holdings in Silicon Laboratories by 84.1% during the third quarter. GAMMA Investing LLC now owns 497 shares of the semiconductor company’s stock worth $57,000 after purchasing an additional 227 shares during the last quarter. Daiwa Securities Group Inc. acquired a new position in Silicon Laboratories during the second quarter worth $60,000. Migdal Insurance & Financial Holdings Ltd. purchased a new stake in Silicon Laboratories during the second quarter worth $82,000. Finally, International Assets Investment Management LLC grew its holdings in Silicon Laboratories by 11,457.1% in the third quarter. International Assets Investment Management LLC now owns 809 shares of the semiconductor company’s stock valued at $93,000 after purchasing an additional 802 shares during the last quarter.

Silicon Laboratories Stock Up 3.2 %

SLAB stock opened at $101.55 on Thursday. The stock has a market capitalization of $3.30 billion, a price-to-earnings ratio of -13.72 and a beta of 1.20. Silicon Laboratories Inc. has a 52-week low of $94.00 and a 52-week high of $154.91. The stock’s fifty day simple moving average is $111.29 and its 200-day simple moving average is $114.39.

Silicon Laboratories (NASDAQ:SLAB) last issued its quarterly earnings results on Monday, November 4th. The semiconductor company reported ($0.13) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.20) by $0.07. Silicon Laboratories had a negative return on equity of 12.60% and a negative net margin of 46.93%. The firm had revenue of $166.00 million for the quarter, compared to analyst estimates of $165.50 million. During the same period last year, the company earned $0.48 EPS. The firm’s quarterly revenue was down 18.5% on a year-over-year basis. As a group, analysts anticipate that Silicon Laboratories Inc. will post -3.56 earnings per share for the current fiscal year.

Insider Activity at Silicon Laboratories

In other Silicon Laboratories news, SVP Brandon Tolany sold 845 shares of the business’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $115.00, for a total transaction of $97,175.00. Following the completion of the sale, the senior vice president now owns 43,615 shares of the company’s stock, valued at approximately $5,015,725. The trade was a 1.90 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.72% of the stock is owned by insiders.

Analysts Set New Price Targets

Several research firms recently commented on SLAB. JPMorgan Chase & Co. decreased their price objective on shares of Silicon Laboratories from $150.00 to $135.00 and set an “overweight” rating on the stock in a research report on Tuesday, November 5th. Barclays lowered their price target on shares of Silicon Laboratories from $120.00 to $75.00 and set an “equal weight” rating on the stock in a research report on Tuesday, November 5th. Stifel Nicolaus cut their price objective on Silicon Laboratories from $160.00 to $135.00 and set a “buy” rating for the company in a research report on Tuesday, November 5th. Needham & Company LLC reiterated a “buy” rating and set a $150.00 target price on shares of Silicon Laboratories in a report on Thursday, July 25th. Finally, Morgan Stanley cut their price target on Silicon Laboratories from $123.00 to $97.00 and set an “equal weight” rating for the company in a report on Tuesday, November 5th. One research analyst has rated the stock with a sell rating, five have given a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $121.50.

About Silicon Laboratories

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.