American International Group Inc. Lowers Stock Holdings in Silicon Laboratories Inc. (NASDAQ:SLAB)

American International Group Inc. reduced its position in Silicon Laboratories Inc. (NASDAQ:SLAB) by 3.3% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 58,461 shares of the semiconductor company’s stock after selling 2,024 shares during the period. American International Group Inc. owned about 0.18% of Silicon Laboratories worth $7,733,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. grew its stake in Silicon Laboratories by 1.7% in the 3rd quarter. Vanguard Group Inc. now owns 3,285,032 shares of the semiconductor company’s stock worth $380,702,000 after acquiring an additional 55,586 shares during the period. Capital Research Global Investors grew its stake in Silicon Laboratories by 73.9% in the 4th quarter. Capital Research Global Investors now owns 937,939 shares of the semiconductor company’s stock worth $124,061,000 after acquiring an additional 398,489 shares during the period. Dimensional Fund Advisors LP grew its stake in Silicon Laboratories by 4.7% in the 4th quarter. Dimensional Fund Advisors LP now owns 641,710 shares of the semiconductor company’s stock worth $84,884,000 after acquiring an additional 28,759 shares during the period. Federated Hermes Inc. grew its stake in Silicon Laboratories by 6.9% in the 4th quarter. Federated Hermes Inc. now owns 516,484 shares of the semiconductor company’s stock worth $68,315,000 after acquiring an additional 33,357 shares during the period. Finally, Eagle Asset Management Inc. grew its stake in Silicon Laboratories by 2.7% in the 3rd quarter. Eagle Asset Management Inc. now owns 460,435 shares of the semiconductor company’s stock worth $53,360,000 after acquiring an additional 12,174 shares during the period.

Insiders Place Their Bets

In other Silicon Laboratories news, CEO Robert Matthew Johnson sold 7,230 shares of the business’s stock in a transaction on Monday, June 3rd. The shares were sold at an average price of $123.80, for a total value of $895,074.00. Following the transaction, the chief executive officer now owns 47,910 shares in the company, valued at approximately $5,931,258. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 1.72% of the stock is currently owned by company insiders.

Silicon Laboratories Trading Down 0.8 %

Shares of Silicon Laboratories stock opened at $118.49 on Thursday. The company has a fifty day moving average price of $123.55 and a 200 day moving average price of $128.61. Silicon Laboratories Inc. has a twelve month low of $74.56 and a twelve month high of $166.94. The stock has a market cap of $3.78 billion, a price-to-earnings ratio of -35.80 and a beta of 1.23.

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

Analyst Upgrades and Downgrades

Several research firms have commented on SLAB. Citigroup lowered their target price on shares of Silicon Laboratories from $137.00 to $120.00 and set a “neutral” rating for the company in a research note on Thursday, April 25th. StockNews.com raised shares of Silicon Laboratories to a “sell” rating in a research note on Wednesday, May 22nd. JPMorgan Chase & Co. lowered their price objective on shares of Silicon Laboratories from $165.00 to $150.00 and set an “overweight” rating for the company in a research note on Thursday, April 25th. Benchmark reissued a “hold” rating on shares of Silicon Laboratories in a research note on Thursday, April 25th. Finally, Summit Insights cut shares of Silicon Laboratories from a “buy” rating to a “hold” rating in a research note on Wednesday, April 24th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $135.00.

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.