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

Wrapmanager Inc. increased its stake in Silicon Laboratories Inc. (NASDAQ:SLAB) by 63.9% during the fourth quarter, HoldingsChannel.com reports. The fund owned 3,290 shares of the semiconductor company’s stock after buying an additional 1,283 shares during the period. Wrapmanager Inc.’s holdings in Silicon Laboratories were worth $435,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Park Avenue Securities LLC acquired a new position in Silicon Laboratories in the 3rd quarter worth approximately $339,000. Federated Hermes Inc. boosted its position in shares of Silicon Laboratories by 6.9% in the fourth quarter. Federated Hermes Inc. now owns 516,484 shares of the semiconductor company’s stock worth $68,315,000 after buying an additional 33,357 shares during the period. Venturi Wealth Management LLC purchased a new position in shares of Silicon Laboratories during the third quarter valued at $30,000. Schonfeld Strategic Advisors LLC acquired a new position in Silicon Laboratories during the third quarter valued at $3,652,000. Finally, Envestnet Asset Management Inc. raised its position in Silicon Laboratories by 37.2% during the third quarter. Envestnet Asset Management Inc. now owns 90,289 shares of the semiconductor company’s stock valued at $10,464,000 after buying an additional 24,468 shares during the period.

Silicon Laboratories Trading Up 0.8 %

Shares of NASDAQ:SLAB traded up $1.06 during trading on Thursday, reaching $127.96. 188,378 shares of the stock were exchanged, compared to its average volume of 322,035. The stock has a 50-day moving average price of $131.32 and a 200-day moving average price of $123.06. The firm has a market cap of $4.08 billion, a PE ratio of -38.66 and a beta of 1.25. Silicon Laboratories Inc. has a 12 month low of $74.56 and a 12 month high of $166.94.

Silicon Laboratories (NASDAQ:SLAB) last issued its quarterly earnings results on Wednesday, April 24th. The semiconductor company reported ($1.34) EPS for the quarter, missing analysts’ consensus estimates of ($1.29) by ($0.05). The company had revenue of $106.38 million during the quarter, compared to the consensus estimate of $104.45 million. Silicon Laboratories had a negative return on equity of 4.45% and a negative net margin of 16.36%. On average, sell-side analysts expect that Silicon Laboratories Inc. will post -3.1 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

SLAB has been the subject of a number of research reports. Barclays decreased their price objective on Silicon Laboratories from $140.00 to $120.00 and set an “equal weight” rating for the company in a research report on Thursday, April 25th. Citigroup lowered their price objective on shares of Silicon Laboratories from $137.00 to $120.00 and set a “neutral” rating on the stock in a research report on Thursday, April 25th. Needham & Company LLC upgraded Silicon Laboratories from a “hold” rating to a “buy” rating and set a $150.00 target price on the stock in a research note on Thursday, April 25th. Benchmark restated a “hold” rating on shares of Silicon Laboratories in a research note on Thursday, April 25th. Finally, TD Cowen dropped their price target on shares of Silicon Laboratories from $155.00 to $145.00 and set a “buy” rating on the stock in a research report on Thursday, April 25th. One research 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. According to MarketBeat, Silicon Laboratories currently has an average rating of “Hold” and an average target price of $135.00.

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.