ProShare Advisors LLC Sells 957 Shares of Silicon Laboratories Inc. (NASDAQ:SLAB)

ProShare Advisors LLC lowered its position in shares of Silicon Laboratories Inc. (NASDAQ:SLAB) by 8.5% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 10,317 shares of the semiconductor company’s stock after selling 957 shares during the period. ProShare Advisors LLC’s holdings in Silicon Laboratories were worth $1,141,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. Vanguard Group Inc. increased 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 buying an additional 24,997 shares during the period. Capital Research Global Investors raised its stake in Silicon Laboratories by 29.9% in the 1st quarter. Capital Research Global Investors now owns 1,217,939 shares of the semiconductor company’s stock worth $175,042,000 after purchasing an additional 280,000 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in Silicon Laboratories by 2.0% in the 2nd quarter. Dimensional Fund Advisors LP now owns 639,065 shares of the semiconductor company’s stock worth $70,699,000 after purchasing an additional 12,680 shares in the last quarter. Van Berkom & Associates Inc. boosted its holdings in Silicon Laboratories by 8.4% in the 2nd quarter. Van Berkom & Associates Inc. now owns 609,232 shares of the semiconductor company’s stock valued at $67,399,000 after purchasing an additional 47,058 shares during the period. Finally, Federated Hermes Inc. grew its position in shares of Silicon Laboratories by 2.2% during the 2nd quarter. Federated Hermes Inc. now owns 545,833 shares of the semiconductor company’s stock worth $60,386,000 after purchasing an additional 11,981 shares in the last quarter.

Insider Activity at Silicon Laboratories

In related news, SVP Brandon Tolany sold 845 shares of the 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 of the company’s stock, valued at approximately $5,015,725. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. 1.72% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

SLAB has been the subject of a number of analyst reports. Needham & Company LLC reiterated a “buy” rating and issued a $150.00 price target on shares of Silicon Laboratories in a research report on Thursday, July 25th. StockNews.com upgraded Silicon Laboratories to a “sell” rating in a research report on Tuesday, July 23rd. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, Silicon Laboratories presently has a consensus rating of “Hold” and an average price target of $135.00.

Silicon Laboratories Stock Performance

Shares of SLAB stock opened at $116.53 on Friday. Silicon Laboratories Inc. has a fifty-two week low of $74.56 and a fifty-two week high of $154.91. The stock’s fifty day moving average price is $110.47 and its two-hundred day moving average price is $119.18. The company has a market cap of $3.76 billion, a PE ratio of -35.21 and a beta of 1.19.

Silicon Laboratories (NASDAQ:SLAB) last released its quarterly earnings data on Wednesday, July 24th. The semiconductor company reported ($0.56) earnings per share for the quarter, beating the consensus estimate of ($0.64) by $0.08. The business had revenue of $145.40 million for the quarter, compared to analyst estimates of $140.18 million. Silicon Laboratories had a negative return on equity of 9.13% and a negative net margin of 36.53%. Silicon Laboratories’s revenue was down 40.6% compared to the same quarter last year. During the same period last year, the firm posted $0.59 earnings per share. On average, equities analysts predict 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.