Avalon Global Asset Management LLC Boosts Holdings in Silicon Laboratories Inc. (NASDAQ:SLAB)

Avalon Global Asset Management LLC increased its position in Silicon Laboratories Inc. (NASDAQ:SLAB) by 44.8% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 97,900 shares of the semiconductor company’s stock after purchasing an additional 30,300 shares during the quarter. Silicon Laboratories accounts for 2.5% of Avalon Global Asset Management LLC’s portfolio, making the stock its 13th largest position. Avalon Global Asset Management LLC owned 0.30% of Silicon Laboratories worth $10,831,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Cullen Frost Bankers Inc. purchased a new position in Silicon Laboratories in the 2nd quarter valued at about $28,000. Fidelis Capital Partners LLC purchased a new position in Silicon Laboratories in the first quarter valued at about $55,000. Daiwa Securities Group Inc. acquired a new stake in Silicon Laboratories during the 2nd quarter valued at approximately $60,000. Mather Group LLC. purchased a new stake in Silicon Laboratories during the 1st quarter worth approximately $63,000. Finally, Migdal Insurance & Financial Holdings Ltd. acquired a new position in shares of Silicon Laboratories in the 2nd quarter valued at approximately $82,000.

Analyst Ratings Changes

SLAB has been the subject of a number of research analyst reports. StockNews.com upgraded shares of Silicon Laboratories to a “sell” rating in a research note on Tuesday, July 23rd. Needham & Company LLC restated a “buy” rating and issued a $150.00 target price on shares of Silicon Laboratories in a research note on Thursday, July 25th. One analyst has rated the stock with a sell rating, five have issued a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $135.00.

Insider Activity at Silicon Laboratories

In other Silicon Laboratories news, SVP Brandon Tolany sold 845 shares of the company’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $115.00, for a total value of $97,175.00. Following the completion of the sale, the senior vice president now directly owns 43,615 shares of the company’s stock, valued at approximately $5,015,725. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 1.72% of the company’s stock.

Silicon Laboratories Price Performance

NASDAQ:SLAB opened at $111.76 on Friday. The firm has a market capitalization of $3.61 billion, a P/E ratio of -33.76 and a beta of 1.19. The business has a 50 day simple moving average of $110.83 and a 200 day simple moving average of $120.46. Silicon Laboratories Inc. has a 12-month low of $74.56 and a 12-month high of $154.91.

Silicon Laboratories (NASDAQ:SLAB) last announced its earnings results on Wednesday, July 24th. The semiconductor company reported ($0.56) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.64) by $0.08. The firm had revenue of $145.40 million during the quarter, compared to analyst estimates of $140.18 million. Silicon Laboratories had a negative net margin of 36.53% and a negative return on equity of 9.13%. Silicon Laboratories’s revenue was down 40.6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.59 EPS. Research analysts anticipate that Silicon Laboratories Inc. will post -3.41 EPS for the current fiscal year.

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.