Granite Investment Partners LLC Increases Stock Holdings in Silicon Laboratories Inc. (NASDAQ:SLAB)

Granite Investment Partners LLC boosted its holdings in Silicon Laboratories Inc. (NASDAQ:SLAB) by 15.7% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 47,338 shares of the semiconductor company’s stock after purchasing an additional 6,420 shares during the quarter. Granite Investment Partners LLC owned approximately 0.15% of Silicon Laboratories worth $5,237,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in the business. Dimensional Fund Advisors LP lifted its holdings in shares of Silicon Laboratories by 4.7% during 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. Vanguard Personalized Indexing Management LLC purchased a new position in Silicon Laboratories during the fourth quarter worth approximately $312,000. Norges Bank acquired a new position in shares of Silicon Laboratories in the 4th quarter valued at $28,907,000. Coldstream Capital Management Inc. boosted its holdings in shares of Silicon Laboratories by 6.9% in the 4th quarter. Coldstream Capital Management Inc. now owns 2,431 shares of the semiconductor company’s stock valued at $322,000 after purchasing an additional 157 shares during the last quarter. Finally, Hsbc Holdings PLC increased its holdings in shares of Silicon Laboratories by 390.2% during the 4th quarter. Hsbc Holdings PLC now owns 9,701 shares of the semiconductor company’s stock worth $1,290,000 after buying an additional 7,722 shares during the last quarter.

Silicon Laboratories Stock Performance

SLAB stock opened at $111.76 on Friday. The firm has a market cap of $3.61 billion, a P/E ratio of -33.45 and a beta of 1.19. Silicon Laboratories Inc. has a 1 year low of $74.56 and a 1 year high of $154.91. The stock has a 50-day simple moving average of $111.02 and a 200-day simple moving average of $120.67.

Silicon Laboratories (NASDAQ:SLAB) last issued its quarterly earnings data on Wednesday, July 24th. The semiconductor company reported ($0.56) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.64) by $0.08. Silicon Laboratories had a negative net margin of 36.53% and a negative return on equity of 9.13%. The company had revenue of $145.40 million during the quarter, compared to the consensus estimate of $140.18 million. During the same quarter last year, the company earned $0.59 earnings per share. Silicon Laboratories’s revenue for the quarter was down 40.6% on a year-over-year basis. On average, equities research analysts predict that Silicon Laboratories Inc. will post -3.41 EPS for the current year.

Insider Buying and Selling

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 transaction, the senior vice president now directly owns 43,615 shares of the company’s stock, valued at approximately $5,015,725. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 1.72% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

SLAB has been the topic of a number of research analyst reports. Needham & Company LLC reiterated a “buy” rating and issued a $150.00 target price on shares of Silicon Laboratories in a report on Thursday, July 25th. StockNews.com raised Silicon Laboratories to a “sell” rating in a research note on Tuesday, July 23rd. One investment 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. According to MarketBeat, Silicon Laboratories currently has a consensus rating of “Hold” and a consensus target price of $135.00.

Silicon Laboratories 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.