US Bancorp DE Purchases 232 Shares of Silicon Laboratories Inc. (NASDAQ:SLAB)

US Bancorp DE grew its position in Silicon Laboratories Inc. (NASDAQ:SLAB) by 14.0% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,892 shares of the semiconductor company’s stock after acquiring an additional 232 shares during the quarter. US Bancorp DE’s holdings in Silicon Laboratories were worth $219,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the company. SG Americas Securities LLC lifted its position in Silicon Laboratories by 88.9% in the first quarter. SG Americas Securities LLC now owns 1,840 shares of the semiconductor company’s stock worth $264,000 after purchasing an additional 866 shares during the period. Russell Investments Group Ltd. lifted its stake in Silicon Laboratories by 31.7% during the first quarter. Russell Investments Group Ltd. now owns 52,578 shares of the semiconductor company’s stock worth $7,557,000 after purchasing an additional 12,667 shares during the period. ProShare Advisors LLC boosted its holdings in Silicon Laboratories by 14.8% during the first quarter. ProShare Advisors LLC now owns 11,274 shares of the semiconductor company’s stock valued at $1,620,000 after purchasing an additional 1,453 shares in the last quarter. Orion Portfolio Solutions LLC grew its stake in shares of Silicon Laboratories by 1.1% in the 1st quarter. Orion Portfolio Solutions LLC now owns 9,858 shares of the semiconductor company’s stock valued at $1,417,000 after purchasing an additional 103 shares during the period. Finally, Vanguard Group Inc. raised its holdings in shares of Silicon Laboratories by 0.7% in 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 in the last quarter.

Analyst Upgrades and Downgrades

Several analysts recently commented on SLAB shares. Barclays decreased their price target on Silicon Laboratories from $120.00 to $75.00 and set an “equal weight” rating on the stock in a research note on Tuesday, November 5th. Morgan Stanley reduced their target price on shares of Silicon Laboratories from $123.00 to $97.00 and set an “equal weight” rating on the stock in a research note on Tuesday, November 5th. Needham & Company LLC reiterated a “buy” rating and set a $150.00 target price on shares of Silicon Laboratories in a research report on Thursday, July 25th. StockNews.com upgraded shares of Silicon Laboratories to a “sell” rating in a research report on Friday, November 8th. Finally, KeyCorp dropped their price objective on shares of Silicon Laboratories from $150.00 to $115.00 and set an “overweight” rating for the company in a report on Tuesday, November 5th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $121.50.

Insider Activity

In other news, SVP Brandon Tolany sold 845 shares of the company’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $115.00, for a total value of $97,175.00. Following the completion of the sale, the senior vice president now directly owns 43,615 shares of the company’s stock, valued at $5,015,725. This represents a 1.90 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 1.72% of the stock is currently owned by company insiders.

Silicon Laboratories Trading Down 1.0 %

Shares of NASDAQ SLAB opened at $104.86 on Friday. Silicon Laboratories Inc. has a 1-year low of $94.00 and a 1-year high of $154.91. The company has a 50-day moving average of $111.77 and a two-hundred day moving average of $115.03. The company has a market cap of $3.40 billion, a PE ratio of -14.17 and a beta of 1.20.

Silicon Laboratories (NASDAQ:SLAB) last announced its quarterly earnings data on Monday, November 4th. The semiconductor company reported ($0.13) EPS for the quarter, topping analysts’ consensus estimates of ($0.20) by $0.07. Silicon Laboratories had a negative return on equity of 12.60% and a negative net margin of 46.93%. The firm had revenue of $166.00 million during the quarter, compared to analyst estimates of $165.50 million. During the same period last year, the company earned $0.48 earnings per share. The company’s revenue was down 18.5% on a year-over-year basis. As a group, equities research analysts forecast that Silicon Laboratories Inc. will post -3.56 earnings per share for the current year.

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.