Swiss National Bank Has $7.20 Million Stock Position in Silicon Laboratories Inc. (NASDAQ:SLAB)

Swiss National Bank lowered its position in shares of Silicon Laboratories Inc. (NASDAQ:SLAB) by 0.8% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 62,300 shares of the semiconductor company’s stock after selling 500 shares during the quarter. Swiss National Bank owned approximately 0.19% of Silicon Laboratories worth $7,200,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in SLAB. Lazard Asset Management LLC acquired a new stake in shares of Silicon Laboratories during the 1st quarter worth about $103,000. Tidal Investments LLC acquired a new stake in shares of Silicon Laboratories during the 1st quarter worth about $230,000. Harbor Capital Advisors Inc. increased its position in shares of Silicon Laboratories by 8.5% during the 2nd 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. CWM LLC increased its position in Silicon Laboratories by 185.0% in the 2nd 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. Finally, Linden Thomas Advisory Services LLC increased its position in Silicon Laboratories by 37.2% in the 2nd quarter. Linden Thomas Advisory Services LLC now owns 12,457 shares of the semiconductor company’s stock valued at $1,378,000 after acquiring an additional 3,377 shares in the last quarter.

Silicon Laboratories Price Performance

Silicon Laboratories stock opened at $112.06 on Tuesday. The company’s 50 day simple moving average is $111.17 and its 200 day simple moving average is $113.90. Silicon Laboratories Inc. has a fifty-two week low of $94.00 and a fifty-two week high of $154.91. The firm has a market capitalization of $3.64 billion, a price-to-earnings ratio of -15.14 and a beta of 1.20.

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

Insider Buying and Selling

In other Silicon Laboratories news, SVP Brandon Tolany sold 845 shares of Silicon Laboratories stock in a transaction that occurred on 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 approximately $5,015,725. The trade was a 1.90 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 1.72% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the stock. KeyCorp lowered 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 report on Tuesday, November 5th. JPMorgan Chase & Co. lowered their price objective on shares of Silicon Laboratories from $150.00 to $135.00 and set an “overweight” rating for the company in a research report on Tuesday, November 5th. Morgan Stanley lowered 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 report on Tuesday, November 5th. StockNews.com upgraded shares of Silicon Laboratories to a “sell” rating in a research report on Friday, November 8th. Finally, Barclays lowered their price objective on shares of Silicon Laboratories from $120.00 to $75.00 and set an “equal weight” rating for the company in a research report on Tuesday, November 5th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, Silicon Laboratories presently has a consensus rating of “Hold” and an average price target of $121.50.

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.