JPMorgan Chase & Co. Sells 26,022 Shares of Silicon Laboratories Inc. (NASDAQ:SLAB)

JPMorgan Chase & Co. cut its stake in Silicon Laboratories Inc. (NASDAQ:SLAB) by 19.7% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 106,092 shares of the semiconductor company’s stock after selling 26,022 shares during the period. JPMorgan Chase & Co.’s holdings in Silicon Laboratories were worth $12,261,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. FMR LLC lifted 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 buying an additional 54,708 shares during the period. Wellington Management Group LLP lifted its position in shares of Silicon Laboratories by 28.3% in 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 grew its holdings in shares of Silicon Laboratories by 2.1% during the 3rd quarter. Geode Capital Management LLC now owns 781,049 shares of the semiconductor company’s stock worth $90,282,000 after purchasing an additional 15,728 shares in the last quarter. Dimensional Fund Advisors LP increased its position in shares of Silicon Laboratories by 2.0% during 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, Federated Hermes Inc. raised its stake in shares of Silicon Laboratories by 2.2% in the second quarter. Federated Hermes Inc. now owns 545,833 shares of the semiconductor company’s stock valued at $60,386,000 after purchasing an additional 11,981 shares in the last quarter.

Silicon Laboratories Trading Up 3.9 %

NASDAQ:SLAB opened at $133.09 on Friday. The stock has a market capitalization of $4.32 billion, a P/E ratio of -17.99 and a beta of 1.17. Silicon Laboratories Inc. has a 1 year low of $94.00 and a 1 year high of $154.91. The firm has a 50 day moving average of $117.64 and a 200-day moving average of $114.04.

Silicon Laboratories (NASDAQ:SLAB) last issued its quarterly earnings data 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 firm had revenue of $166.00 million during the quarter, compared to the consensus estimate 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 for the quarter was down 18.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.48 EPS. As a group, analysts forecast that Silicon Laboratories Inc. will post -3.56 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on SLAB shares. Morgan Stanley decreased their price target on shares of Silicon Laboratories from $123.00 to $97.00 and set an “equal weight” rating on the stock in a research note on Tuesday, November 5th. Benchmark reiterated a “hold” rating on shares of Silicon Laboratories in a research report on Tuesday, November 5th. KeyCorp dropped their price target 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. Stifel Nicolaus upped their price objective on Silicon Laboratories from $135.00 to $145.00 and gave the company a “buy” rating in a research note on Monday, January 6th. Finally, JPMorgan Chase & Co. cut their target price on Silicon Laboratories from $150.00 to $135.00 and set an “overweight” rating for the company in a research report on Tuesday, November 5th. One analyst has rated the stock with a sell rating, six have issued a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $123.56.

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.