Silicon Laboratories Inc. (NASDAQ:SLAB) Shares Bought by Barclays PLC

Barclays PLC increased its stake in Silicon Laboratories Inc. (NASDAQ:SLAB) by 23.4% in the third quarter, Holdings Channel reports. The institutional investor owned 70,568 shares of the semiconductor company’s stock after acquiring an additional 13,363 shares during the quarter. Barclays PLC’s holdings in Silicon Laboratories were worth $8,157,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Point72 Asset Management L.P. acquired a new position in Silicon Laboratories in the third quarter worth $7,408,000. Intech Investment Management LLC raised its holdings in shares of Silicon Laboratories by 82.9% during the third quarter. Intech Investment Management LLC now owns 12,837 shares of the semiconductor company’s stock worth $1,484,000 after purchasing an additional 5,818 shares during the period. Clearbridge Investments LLC lifted its position in shares of Silicon Laboratories by 84.0% in the 2nd quarter. Clearbridge Investments LLC now owns 273,776 shares of the semiconductor company’s stock worth $30,288,000 after buying an additional 125,022 shares during the last quarter. Premier Fund Managers Ltd acquired a new position in shares of Silicon Laboratories in the 3rd quarter valued at about $934,000. Finally, Paloma Partners Management Co bought a new stake in shares of Silicon Laboratories during the 3rd quarter valued at about $1,560,000.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on SLAB. StockNews.com raised shares of Silicon Laboratories to a “sell” rating in a report on Friday, November 8th. Stifel Nicolaus cut their price target on Silicon Laboratories from $160.00 to $135.00 and set a “buy” rating on the stock in a report on Tuesday, November 5th. JPMorgan Chase & Co. lowered their price objective on Silicon Laboratories from $150.00 to $135.00 and set an “overweight” rating for the company in a research note on Tuesday, November 5th. Barclays cut their target price on Silicon Laboratories from $120.00 to $75.00 and set an “equal weight” rating on the stock in a research note on Tuesday, November 5th. Finally, KeyCorp lowered 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. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $122.44.

Silicon Laboratories Stock Down 1.6 %

Shares of NASDAQ SLAB opened at $128.96 on Wednesday. The stock has a market cap of $4.18 billion, a P/E ratio of -17.43 and a beta of 1.21. The firm’s 50-day simple moving average is $112.61 and its 200 day simple moving average is $112.88. Silicon Laboratories Inc. has a fifty-two week low of $94.00 and a fifty-two week high of $154.91.

Silicon Laboratories (NASDAQ:SLAB) last released its quarterly earnings results on Monday, November 4th. The semiconductor company reported ($0.13) EPS for the quarter, topping analysts’ consensus estimates of ($0.20) by $0.07. The company had revenue of $166.00 million for the quarter, compared to the consensus estimate of $165.50 million. Silicon Laboratories had a negative net margin of 46.93% and a negative return on equity of 12.60%. Silicon Laboratories’s revenue was down 18.5% on a year-over-year basis. During the same period in the previous year, the firm earned $0.48 EPS. On average, sell-side analysts anticipate 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.