Principal Financial Group Inc. Has $8.74 Million Stake in Silicon Laboratories Inc. (NASDAQ:SLAB)

Principal Financial Group Inc. reduced its stake in Silicon Laboratories Inc. (NASDAQ:SLAB) by 30.1% in the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 75,664 shares of the semiconductor company’s stock after selling 32,550 shares during the quarter. Principal Financial Group Inc. owned approximately 0.23% of Silicon Laboratories worth $8,744,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in SLAB. CWM LLC raised its position in shares of Silicon Laboratories by 185.0% in the second quarter. CWM LLC now owns 8,435 shares of the semiconductor company’s stock valued at $933,000 after purchasing an additional 5,475 shares during the period. Natixis acquired a new position in Silicon Laboratories during the 1st quarter worth $647,000. Vanguard Group Inc. lifted its position in Silicon Laboratories by 0.7% during the 1st quarter. Vanguard Group Inc. now owns 3,489,160 shares of the semiconductor company’s stock worth $501,462,000 after acquiring an additional 24,997 shares during the last quarter. SG Americas Securities LLC boosted its holdings in Silicon Laboratories by 284.6% during the second quarter. SG Americas Securities LLC now owns 7,076 shares of the semiconductor company’s stock valued at $783,000 after acquiring an additional 5,236 shares during the period. Finally, Clearbridge Investments LLC grew its position in shares of Silicon Laboratories by 84.0% in the second quarter. Clearbridge Investments LLC now owns 273,776 shares of the semiconductor company’s stock valued at $30,288,000 after purchasing an additional 125,022 shares during the last quarter.

Insider Buying and Selling at Silicon Laboratories

In other news, SVP Brandon Tolany sold 845 shares of Silicon Laboratories stock in a transaction that occurred on 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 transaction, the senior vice president now owns 43,615 shares in the company, valued at approximately $5,015,725. The trade was a 1.90 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 1.72% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently weighed in on the company. Barclays cut their price objective on Silicon Laboratories from $120.00 to $75.00 and set an “equal weight” rating for the company in a research report on Tuesday, November 5th. Stifel Nicolaus cut their price target on Silicon Laboratories from $160.00 to $135.00 and set a “buy” rating for the company in a report on Tuesday, November 5th. JPMorgan Chase & Co. lowered their price objective on shares of Silicon Laboratories from $150.00 to $135.00 and set an “overweight” rating on the stock in a research note on Tuesday, November 5th. StockNews.com upgraded shares of Silicon Laboratories to a “sell” rating in a research note on Friday, November 8th. Finally, Needham & Company LLC reissued a “buy” rating and issued a $150.00 price target on shares of Silicon Laboratories in a report on Thursday, July 25th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $121.50.

Silicon Laboratories Stock Up 0.2 %

NASDAQ:SLAB opened at $100.71 on Tuesday. The firm has a market capitalization of $3.27 billion, a PE ratio of -13.61 and a beta of 1.20. Silicon Laboratories Inc. has a 12-month low of $94.00 and a 12-month high of $154.91. The firm has a 50-day moving average price of $111.58 and a 200 day moving average price of $114.65.

Silicon Laboratories (NASDAQ:SLAB) last issued its earnings results on Monday, November 4th. The semiconductor company reported ($0.13) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.20) by $0.07. The business had revenue of $166.00 million during the quarter, compared to analysts’ expectations of $165.50 million. Silicon Laboratories had a negative return on equity of 12.60% and a negative net margin of 46.93%. Silicon Laboratories’s quarterly revenue was down 18.5% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.48 EPS. On average, research analysts expect that Silicon Laboratories Inc. will post -3.56 EPS for the current 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.