Fisher Asset Management LLC Has $6.43 Million Position in Silicon Laboratories Inc. (NASDAQ:SLAB)

Fisher Asset Management LLC lifted its holdings in shares of Silicon Laboratories Inc. (NASDAQ:SLAB) by 20.8% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 55,640 shares of the semiconductor company’s stock after purchasing an additional 9,566 shares during the quarter. Fisher Asset Management LLC’s holdings in Silicon Laboratories were worth $6,430,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of SLAB. Clearbridge Investments LLC raised its position in shares of Silicon Laboratories by 84.0% during the second quarter. Clearbridge Investments LLC now owns 273,776 shares of the semiconductor company’s stock worth $30,288,000 after purchasing an additional 125,022 shares during the period. American Century Companies Inc. raised its position in shares of Silicon Laboratories by 29.5% during the second quarter. American Century Companies Inc. now owns 316,407 shares of the semiconductor company’s stock worth $35,004,000 after purchasing an additional 72,138 shares during the period. Van Berkom & Associates Inc. raised its position in shares of Silicon Laboratories by 8.4% during the second quarter. Van Berkom & Associates Inc. now owns 609,232 shares of the semiconductor company’s stock worth $67,399,000 after purchasing an additional 47,058 shares during the period. Davidson Investment Advisors raised its position in shares of Silicon Laboratories by 36.7% during the second quarter. Davidson Investment Advisors now owns 131,453 shares of the semiconductor company’s stock worth $14,543,000 after purchasing an additional 35,317 shares during the period. Finally, Schwartz Investment Counsel Inc. grew its holdings in shares of Silicon Laboratories by 17.9% during the third quarter. Schwartz Investment Counsel Inc. now owns 230,000 shares of the semiconductor company’s stock worth $26,581,000 after buying an additional 35,000 shares in the last quarter.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the company. Morgan Stanley decreased their price objective 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. Barclays decreased their price objective on Silicon Laboratories from $120.00 to $75.00 and set an “equal weight” rating for the company in a report on Tuesday, November 5th. Benchmark reiterated a “hold” rating on shares of Silicon Laboratories in a report on Tuesday, November 5th. JPMorgan Chase & Co. decreased their price objective on Silicon Laboratories from $150.00 to $135.00 and set an “overweight” rating for the company in a report on Tuesday, November 5th. Finally, KeyCorp decreased their price objective on Silicon Laboratories from $150.00 to $115.00 and set an “overweight” rating for the company in a report on Tuesday, November 5th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $121.50.

Silicon Laboratories Stock Up 1.1 %

SLAB stock opened at $108.78 on Friday. The business has a 50 day moving average price of $111.05 and a two-hundred day moving average price of $113.75. The company has a market cap of $3.53 billion, a price-to-earnings ratio of -14.70 and a beta of 1.20. Silicon Laboratories Inc. has a twelve month low of $94.00 and a twelve month high of $154.91.

Silicon Laboratories (NASDAQ:SLAB) last issued its earnings results on Monday, November 4th. The semiconductor company reported ($0.13) EPS for the quarter, topping the consensus estimate 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 company had revenue of $166.00 million during the quarter, compared to the consensus estimate of $165.50 million. During the same period in the previous year, the company posted $0.48 EPS. The firm’s revenue for the quarter was down 18.5% compared to the same quarter last year. On average, equities research analysts anticipate that Silicon Laboratories Inc. will post -3.56 EPS for the current fiscal year.

Insider Transactions at Silicon Laboratories

In other 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 transaction of $97,175.00. Following the completion of the transaction, the senior vice president now directly owns 43,615 shares in the company, valued at approximately $5,015,725. The trade was a 1.90 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 1.72% of the stock is currently owned by corporate insiders.

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.