International Assets Investment Management LLC Raises Holdings in Silicon Laboratories Inc. (NASDAQ:SLAB)

International Assets Investment Management LLC grew its stake in Silicon Laboratories Inc. (NASDAQ:SLAB) by 11,457.1% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 809 shares of the semiconductor company’s stock after buying an additional 802 shares during the quarter. International Assets Investment Management LLC’s holdings in Silicon Laboratories were worth $93,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also made changes to their positions in the company. Cullen Frost Bankers Inc. purchased a new position in Silicon Laboratories in the second quarter worth approximately $28,000. GAMMA Investing LLC lifted its position in shares of Silicon Laboratories by 84.1% during the 3rd quarter. GAMMA Investing LLC now owns 497 shares of the semiconductor company’s stock worth $57,000 after purchasing an additional 227 shares during the last quarter. Daiwa Securities Group Inc. acquired a new position in shares of Silicon Laboratories during the second quarter worth $60,000. Migdal Insurance & Financial Holdings Ltd. acquired a new position in shares of Silicon Laboratories during the second quarter worth $82,000. Finally, Lazard Asset Management LLC purchased a new position in Silicon Laboratories in the first quarter valued at $103,000.

Analysts Set New Price Targets

A number of brokerages have issued reports on SLAB. Needham & Company LLC reaffirmed a “buy” rating and set a $150.00 price target on shares of Silicon Laboratories in a report on Thursday, July 25th. Benchmark restated a “hold” rating on shares of Silicon Laboratories in a research note on Tuesday. KeyCorp dropped their price target on shares of Silicon Laboratories from $150.00 to $115.00 and set an “overweight” rating on the stock in a research note on Tuesday. Barclays reduced their price objective on shares of Silicon Laboratories from $120.00 to $75.00 and set an “equal weight” rating for the company in a research report on Tuesday. Finally, JPMorgan Chase & Co. dropped their target price on shares of Silicon Laboratories from $150.00 to $135.00 and set an “overweight” rating on the stock in a research report on Tuesday. One 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. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $121.50.

Silicon Laboratories Price Performance

SLAB stock opened at $113.65 on Friday. The company has a market cap of $3.67 billion, a price-to-earnings ratio of -15.36 and a beta of 1.20. The company has a fifty day moving average price of $112.22 and a 200 day moving average price of $115.47. Silicon Laboratories Inc. has a 12 month low of $92.55 and a 12 month high of $154.91.

Silicon Laboratories (NASDAQ:SLAB) last announced its earnings results on Monday, November 4th. The semiconductor company reported ($0.13) EPS for the quarter, beating analysts’ consensus estimates of ($0.20) by $0.07. Silicon Laboratories had a negative net margin of 46.93% and a negative return on equity of 12.40%. The business had revenue of $166.00 million during the quarter, compared to analysts’ expectations of $165.50 million. During the same period in the prior year, the company earned $0.48 earnings per share. The business’s revenue was down 18.5% compared to the same quarter last year. As a group, analysts anticipate that Silicon Laboratories Inc. will post -3.41 earnings per share for the current year.

Insiders Place Their Bets

In other news, SVP Brandon Tolany sold 845 shares of the business’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 value of $97,175.00. Following the transaction, the senior vice president now owns 43,615 shares of the company’s stock, valued at approximately $5,015,725. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 1.72% of the stock is owned by insiders.

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.