Tidal Investments LLC Invests $520,000 in Silicon Laboratories Inc. (NASDAQ:SLAB)

Tidal Investments LLC bought a new stake in Silicon Laboratories Inc. (NASDAQ:SLAB) during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 4,496 shares of the semiconductor company’s stock, valued at approximately $520,000.

Several other hedge funds also recently modified their holdings of SLAB. FMR LLC grew its stake in Silicon Laboratories by 1.1% in the 3rd quarter. FMR LLC now owns 4,843,370 shares of the semiconductor company’s stock worth $559,748,000 after acquiring an additional 54,708 shares during the period. Wellington Management Group LLP lifted its holdings in shares of Silicon Laboratories by 28.3% during the 3rd quarter. Wellington Management Group LLP now owns 888,382 shares of the semiconductor company’s stock worth $102,670,000 after acquiring an additional 195,997 shares during the period. Geode Capital Management LLC boosted its position in shares of Silicon Laboratories by 2.1% in the third quarter. Geode Capital Management LLC now owns 781,049 shares of the semiconductor company’s stock worth $90,282,000 after acquiring an additional 15,728 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in Silicon Laboratories by 2.0% in the second quarter. Dimensional Fund Advisors LP now owns 639,065 shares of the semiconductor company’s stock valued at $70,699,000 after purchasing an additional 12,680 shares during the period. Finally, Van Berkom & Associates Inc. increased its position in 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 last quarter.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on the stock. 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 note on Tuesday, November 5th. Stifel Nicolaus dropped their target price on shares of Silicon Laboratories from $160.00 to $135.00 and set a “buy” rating for the company in a research report on Tuesday, November 5th. KeyCorp dropped 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. StockNews.com upgraded shares of Silicon Laboratories to a “sell” rating in a report on Friday, November 8th. Finally, Benchmark reiterated a “hold” rating on shares of Silicon Laboratories in a report on Tuesday, November 5th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $122.44.

Silicon Laboratories Stock Performance

Shares of SLAB opened at $125.00 on Monday. Silicon Laboratories Inc. has a one year low of $94.00 and a one year high of $154.91. The stock has a 50-day moving average price of $113.22 and a 200 day moving average price of $112.97. The company has a market capitalization of $4.06 billion, a P/E ratio of -16.89 and a beta of 1.21.

Silicon Laboratories (NASDAQ:SLAB) last released its earnings results on Monday, November 4th. The semiconductor company reported ($0.13) EPS for the quarter, beating the consensus estimate of ($0.20) by $0.07. The company had revenue of $166.00 million during 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 business’s revenue was down 18.5% on a year-over-year basis. During the same period in the prior year, the business posted $0.48 EPS. As a group, equities research analysts forecast that Silicon Laboratories Inc. will post -3.56 earnings per share for the current fiscal 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.