Silicon Laboratories Inc. (NASDAQ:SLAB) Shares Sold by Loomis Sayles & Co. L P

Loomis Sayles & Co. L P lessened its holdings in shares of Silicon Laboratories Inc. (NASDAQ:SLAB) by 1.6% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 460,891 shares of the semiconductor company’s stock after selling 7,316 shares during the period. Loomis Sayles & Co. L P’s holdings in Silicon Laboratories were worth $53,266,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the business. Harbor Capital Advisors Inc. increased its holdings in Silicon Laboratories by 8.5% in the second quarter. Harbor Capital Advisors Inc. now owns 1,292 shares of the semiconductor company’s stock valued at $143,000 after buying an additional 101 shares in the last quarter. Victory Capital Management Inc. grew its holdings in Silicon Laboratories by 2.3% in the 2nd quarter. Victory Capital Management Inc. now owns 6,638 shares of the semiconductor company’s stock valued at $734,000 after buying an additional 150 shares during the period. Advisors Asset Management Inc. increased its position in Silicon Laboratories by 159.4% during the third quarter. Advisors Asset Management Inc. now owns 275 shares of the semiconductor company’s stock worth $32,000 after purchasing an additional 169 shares during the last quarter. Arizona State Retirement System raised its position in shares of Silicon Laboratories by 2.3% in the 2nd quarter. Arizona State Retirement System now owns 8,936 shares of the semiconductor company’s stock worth $989,000 after buying an additional 202 shares during the period. Finally, GAMMA Investing LLC grew its position in Silicon Laboratories by 84.1% during the third quarter. GAMMA Investing LLC now owns 497 shares of the semiconductor company’s stock valued at $57,000 after acquiring an additional 227 shares during the period.

Silicon Laboratories Stock Up 5.4 %

Shares of SLAB opened at $112.06 on Tuesday. The firm has a market cap of $3.64 billion, a price-to-earnings ratio of -15.14 and a beta of 1.20. The business’s 50 day moving average is $111.17 and its two-hundred day moving average is $113.90. Silicon Laboratories Inc. has a 52-week low of $94.00 and a 52-week high of $154.91.

Silicon Laboratories (NASDAQ:SLAB) last posted its quarterly earnings results 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. Silicon Laboratories had a negative net margin of 46.93% and a negative return on equity of 12.60%. The firm had revenue of $166.00 million for the quarter, compared to analysts’ expectations of $165.50 million. During the same period in the prior year, the company posted $0.48 earnings per share. The firm’s quarterly revenue was down 18.5% on a year-over-year basis. On average, equities analysts expect that Silicon Laboratories Inc. will post -3.56 earnings per share for the current fiscal year.

Insider Activity

In related news, SVP Brandon Tolany sold 845 shares of the company’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $115.00, for a total transaction of $97,175.00. Following the sale, the senior vice president now directly owns 43,615 shares of the company’s stock, valued at approximately $5,015,725. This represents a 1.90 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Company insiders own 1.72% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on SLAB shares. Morgan Stanley reduced their price objective 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. Benchmark reiterated a “hold” rating on shares of Silicon Laboratories in a research note on Tuesday, November 5th. JPMorgan Chase & Co. dropped 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. KeyCorp reduced their target price 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. Finally, StockNews.com upgraded Silicon Laboratories to a “sell” rating in a report on Friday, November 8th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $121.50.

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.