Silicon Laboratories Inc. (NASDAQ:SLAB) Shares Sold by Charles Schwab Investment Management Inc.

Charles Schwab Investment Management Inc. cut its position in Silicon Laboratories Inc. (NASDAQ:SLAB) by 13.2% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 417,805 shares of the semiconductor company’s stock after selling 63,681 shares during the period. Charles Schwab Investment Management Inc. owned 1.29% of Silicon Laboratories worth $48,286,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

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

Silicon Laboratories Stock Up 1.7 %

Shares of SLAB opened at $110.65 on Monday. The company has a market capitalization of $3.59 billion, a price-to-earnings ratio of -14.95 and a beta of 1.20. Silicon Laboratories Inc. has a 52-week low of $94.00 and a 52-week high of $154.91. The stock has a 50 day moving average price of $110.92 and a 200 day moving average price of $113.48.

Silicon Laboratories (NASDAQ:SLAB) last posted its earnings results on Monday, November 4th. The semiconductor company reported ($0.13) EPS for the quarter, topping analysts’ consensus estimates of ($0.20) by $0.07. The business had revenue of $166.00 million for 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%. The business’s revenue was down 18.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.48 earnings per share. On average, equities analysts anticipate that Silicon Laboratories Inc. will post -3.56 EPS for the current fiscal year.

Insider Buying and Selling at Silicon Laboratories

In related news, SVP Brandon Tolany sold 845 shares of Silicon Laboratories 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 sale, the senior vice president now directly owns 43,615 shares in the company, valued at $5,015,725. The trade was a 1.90 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 1.72% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on SLAB. JPMorgan Chase & Co. dropped their target price on Silicon Laboratories from $150.00 to $135.00 and set an “overweight” rating for the company in a report on Tuesday, November 5th. Stifel Nicolaus dropped their price objective on shares of Silicon Laboratories from $160.00 to $135.00 and set a “buy” rating for the company in a report on Tuesday, November 5th. StockNews.com raised shares of Silicon Laboratories to a “sell” rating in a research note on Friday, November 8th. Benchmark reiterated a “hold” rating on shares of Silicon Laboratories in a report on Tuesday, November 5th. Finally, Barclays reduced their price target on shares of Silicon Laboratories from $120.00 to $75.00 and set an “equal weight” rating on the stock in a research report on Tuesday, November 5th. 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 stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target 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.