Silicon Laboratories Inc. (NASDAQ:SLAB) Shares Acquired by Verition Fund Management LLC

Verition Fund Management LLC increased its stake in shares of Silicon Laboratories Inc. (NASDAQ:SLAB) by 51.4% in the third quarter, Holdings Channel.com reports. The institutional investor owned 5,528 shares of the semiconductor company’s stock after acquiring an additional 1,877 shares during the period. Verition Fund Management LLC’s holdings in Silicon Laboratories were worth $639,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently added to or reduced their stakes in the company. Clearbridge Investments LLC grew 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 acquiring an additional 125,022 shares during the last quarter. American Century Companies Inc. grew its position in Silicon Laboratories by 29.5% in the 2nd 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 last quarter. FMR LLC increased its stake in shares of Silicon Laboratories by 1.1% in the third quarter. FMR LLC now owns 4,843,370 shares of the semiconductor company’s stock valued at $559,748,000 after purchasing an additional 54,708 shares during the period. Van Berkom & Associates Inc. raised its holdings 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 valued at $67,399,000 after buying an additional 47,058 shares during the last quarter. Finally, Davidson Investment Advisors boosted 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 buying an additional 35,317 shares during the period.

Silicon Laboratories Price Performance

SLAB stock opened at $123.43 on Wednesday. The firm has a market cap of $4.01 billion, a PE ratio of -16.68 and a beta of 1.21. Silicon Laboratories Inc. has a 12 month low of $94.00 and a 12 month high of $154.91. The firm has a 50 day simple moving average of $111.15 and a 200 day simple moving average of $112.74.

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

Analysts Set New Price Targets

Several analysts have weighed in on SLAB shares. KeyCorp cut their target price on Silicon Laboratories from $150.00 to $115.00 and set an “overweight” rating on the stock in a research note on Tuesday, November 5th. Benchmark reaffirmed a “hold” rating on shares of Silicon Laboratories in a report on Tuesday, November 5th. JPMorgan Chase & Co. lowered their target price on shares of Silicon Laboratories from $150.00 to $135.00 and set an “overweight” rating on the stock in a research note on Tuesday, November 5th. StockNews.com raised shares of Silicon Laboratories to a “sell” rating in a research note on Friday, November 8th. Finally, Stifel Nicolaus lowered their price objective on shares of Silicon Laboratories from $160.00 to $135.00 and set a “buy” rating on the stock in a research note on Tuesday, November 5th. One equities 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 company. According to MarketBeat, Silicon Laboratories has an average rating of “Hold” and a consensus 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.