Royce & Associates LP Increases Holdings in Silicon Laboratories Inc. (NASDAQ:SLAB)

Royce & Associates LP increased its stake in shares of Silicon Laboratories Inc. (NASDAQ:SLAB) by 19.5% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 24,500 shares of the semiconductor company’s stock after acquiring an additional 4,000 shares during the quarter. Royce & Associates LP owned about 0.08% of Silicon Laboratories worth $2,831,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in SLAB. Capital Research Global Investors lifted its stake in shares of Silicon Laboratories by 29.9% during the 1st quarter. Capital Research Global Investors now owns 1,217,939 shares of the semiconductor company’s stock worth $175,042,000 after acquiring an additional 280,000 shares during the last quarter. Clearbridge Investments LLC lifted 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 last quarter. American Century Companies Inc. boosted its stake 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 valued at $35,004,000 after purchasing an additional 72,138 shares during the period. Van Berkom & Associates Inc. grew its holdings in shares of Silicon Laboratories by 8.4% in 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. Finally, Davidson Investment Advisors increased its stake in Silicon Laboratories by 36.7% in 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 period.

Silicon Laboratories Stock Performance

NASDAQ:SLAB opened at $100.71 on Tuesday. The company’s 50-day simple moving average is $111.58 and its 200-day simple moving average is $114.65. Silicon Laboratories Inc. has a fifty-two week low of $94.00 and a fifty-two week high of $154.91. The stock has a market capitalization of $3.27 billion, a P/E ratio of -13.61 and a beta of 1.20.

Silicon Laboratories (NASDAQ:SLAB) last announced its earnings results on Monday, November 4th. The semiconductor company reported ($0.13) earnings per share for the quarter, beating the consensus estimate of ($0.20) by $0.07. Silicon Laboratories had a negative net margin of 46.93% and a negative return on equity of 12.60%. The company had revenue of $166.00 million during the quarter, compared to the consensus estimate of $165.50 million. During the same period last year, the firm earned $0.48 earnings per share. Silicon Laboratories’s revenue was down 18.5% compared to the same quarter last year. On average, research analysts forecast that Silicon Laboratories Inc. will post -3.56 EPS for the current year.

Insider Activity at Silicon Laboratories

In other Silicon Laboratories news, SVP Brandon Tolany sold 845 shares of the company’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $115.00, for a total transaction of $97,175.00. Following the transaction, the senior vice president now owns 43,615 shares in the company, valued at approximately $5,015,725. This represents a 1.90 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 1.72% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several research firms have issued reports on SLAB. JPMorgan Chase & Co. lowered their price objective on shares of Silicon Laboratories from $150.00 to $135.00 and set an “overweight” rating for the company in a research report on Tuesday, November 5th. Stifel Nicolaus dropped their price objective on Silicon Laboratories from $160.00 to $135.00 and set a “buy” rating on the stock in a research note on Tuesday, November 5th. KeyCorp decreased their target price on 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 raised Silicon Laboratories to a “sell” rating in a research report on Friday, November 8th. Finally, Morgan Stanley cut their price target on 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. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, Silicon Laboratories has a consensus rating of “Hold” and an average target price of $121.50.

Silicon Laboratories 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.