Premier Fund Managers Ltd Invests $934,000 in Silicon Laboratories Inc. (NASDAQ:SLAB)

Premier Fund Managers Ltd bought a new position in Silicon Laboratories Inc. (NASDAQ:SLAB) in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund bought 8,008 shares of the semiconductor company’s stock, valued at approximately $934,000.

Several other hedge funds and other institutional investors have also bought and sold shares of the stock. Cullen Frost Bankers Inc. purchased a new position in shares of Silicon Laboratories during the second quarter valued at approximately $28,000. GAMMA Investing LLC raised its stake in Silicon Laboratories by 84.1% during the 3rd quarter. GAMMA Investing LLC now owns 497 shares of the semiconductor company’s stock valued at $57,000 after buying an additional 227 shares during the last quarter. Daiwa Securities Group Inc. bought a new position in shares of Silicon Laboratories during the 2nd quarter valued at $60,000. Migdal Insurance & Financial Holdings Ltd. purchased a new position in shares of Silicon Laboratories in the 2nd quarter worth $82,000. Finally, International Assets Investment Management LLC grew its holdings in shares of Silicon Laboratories by 11,457.1% in the third quarter. International Assets Investment Management LLC now owns 809 shares of the semiconductor company’s stock worth $93,000 after acquiring an additional 802 shares during the period.

Analysts Set New Price Targets

SLAB has been the topic of several research reports. StockNews.com raised Silicon Laboratories to a “sell” rating in a research report on Friday, November 8th. KeyCorp dropped their price objective on shares of Silicon Laboratories from $150.00 to $115.00 and set an “overweight” rating on the stock in a report on Tuesday, November 5th. Barclays reduced their target price on shares of Silicon Laboratories from $120.00 to $75.00 and set an “equal weight” rating for the company in a report on Tuesday, November 5th. Benchmark reiterated a “hold” rating on shares of Silicon Laboratories in a research note on Tuesday, November 5th. Finally, Morgan Stanley reduced their price objective on Silicon Laboratories from $123.00 to $97.00 and set an “equal weight” rating for the company in a research note on Tuesday, November 5th. One research analyst has rated the stock with a sell rating, five have given a hold rating and five have issued a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $121.50.

Silicon Laboratories Stock Performance

SLAB opened at $98.40 on Wednesday. The stock has a market cap of $3.19 billion, a price-to-earnings ratio of -13.30 and a beta of 1.20. The firm’s fifty day moving average is $111.42 and its 200 day moving average is $114.48. 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 data on Monday, November 4th. The semiconductor company reported ($0.13) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.20) by $0.07. The firm had revenue of $166.00 million during the quarter, compared to analyst estimates 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 quarterly revenue was down 18.5% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.48 earnings per share. On average, equities research analysts predict that Silicon Laboratories Inc. will post -3.56 earnings per share for the current year.

Insider Activity

In other news, SVP Brandon Tolany sold 845 shares of the firm’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $115.00, for a total transaction of $97,175.00. Following the completion of the transaction, the senior vice president now owns 43,615 shares in the company, valued at $5,015,725. This trade represents a 1.90 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 1.72% of the company’s stock.

About Silicon Laboratories

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.