Silicon Laboratories Inc. (NASDAQ:SLAB) Shares Sold by Truist Financial Corp

Truist Financial Corp reduced its stake in Silicon Laboratories Inc. (NASDAQ:SLAB) by 15.6% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 21,210 shares of the semiconductor company’s stock after selling 3,909 shares during the period. Truist Financial Corp owned approximately 0.07% of Silicon Laboratories worth $2,346,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in SLAB. Capital Research Global Investors grew its position in shares of Silicon Laboratories by 29.9% in the 1st quarter. Capital Research Global Investors now owns 1,217,939 shares of the semiconductor company’s stock valued at $175,042,000 after buying an additional 280,000 shares during the last quarter. Vanguard Group Inc. increased its position in shares of Silicon Laboratories by 5.5% during the fourth quarter. Vanguard Group Inc. now owns 3,464,163 shares of the semiconductor company’s stock worth $458,205,000 after purchasing an additional 179,131 shares in the last quarter. American Century Companies Inc. lifted its holdings in shares of Silicon Laboratories by 29.5% in the 2nd quarter. American Century Companies Inc. now owns 316,407 shares of the semiconductor company’s stock valued at $35,004,000 after purchasing an additional 72,138 shares during the last quarter. Van Berkom & Associates Inc. boosted its position in shares of Silicon Laboratories by 8.4% in the 2nd quarter. Van Berkom & Associates Inc. now owns 609,232 shares of the semiconductor company’s stock valued at $67,399,000 after purchasing an additional 47,058 shares during the period. Finally, Davidson Investment Advisors grew its stake in Silicon Laboratories by 36.7% during the 2nd 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 last quarter.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on SLAB. StockNews.com upgraded shares of Silicon Laboratories to a “sell” rating in a research report on Tuesday, July 23rd. Needham & Company LLC restated a “buy” rating and issued a $150.00 price objective on shares of Silicon Laboratories in a research note on Thursday, July 25th. One 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 MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $135.00.

Insiders Place Their Bets

In other Silicon Laboratories news, SVP Brandon Tolany sold 845 shares of the stock in a transaction 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 sale, the senior vice president now owns 43,615 shares in the company, valued at approximately $5,015,725. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 1.72% of the stock is currently owned by company insiders.

Silicon Laboratories Trading Down 1.2 %

SLAB stock opened at $112.15 on Friday. The company’s 50-day moving average price is $109.95 and its 200 day moving average price is $118.09. Silicon Laboratories Inc. has a 52 week low of $74.56 and a 52 week high of $154.91. The company has a market cap of $3.58 billion, a P/E ratio of -33.88 and a beta of 1.19.

Silicon Laboratories (NASDAQ:SLAB) last announced its quarterly earnings results on Wednesday, July 24th. The semiconductor company reported ($0.56) EPS for the quarter, topping the consensus estimate of ($0.64) by $0.08. The business had revenue of $145.40 million for the quarter, compared to analyst estimates of $140.18 million. Silicon Laboratories had a negative return on equity of 9.13% and a negative net margin of 36.53%. The company’s quarterly revenue was down 40.6% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.59 EPS. On average, equities research analysts expect that Silicon Laboratories Inc. will post -3.41 earnings per share for the current year.

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.