JPMorgan Chase & Co. Has $12.26 Million Stock Position in Silicon Laboratories Inc. (NASDAQ:SLAB)

JPMorgan Chase & Co. reduced its position in Silicon Laboratories Inc. (NASDAQ:SLAB) by 19.7% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 106,092 shares of the semiconductor company’s stock after selling 26,022 shares during the period. JPMorgan Chase & Co. owned about 0.33% of Silicon Laboratories worth $12,261,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in SLAB. Oddo BHF Asset Management Sas acquired a new position in Silicon Laboratories during the third quarter valued at $694,000. Franklin Resources Inc. increased its holdings in shares of Silicon Laboratories by 1.9% in the 3rd quarter. Franklin Resources Inc. now owns 231,889 shares of the semiconductor company’s stock valued at $27,001,000 after purchasing an additional 4,278 shares during the period. Tidal Investments LLC acquired a new position in shares of Silicon Laboratories in the 3rd quarter valued at about $520,000. Geode Capital Management LLC lifted its position in shares of Silicon Laboratories by 2.1% in the third quarter. Geode Capital Management LLC now owns 781,049 shares of the semiconductor company’s stock worth $90,282,000 after purchasing an additional 15,728 shares in the last quarter. Finally, Barclays PLC boosted its holdings in shares of Silicon Laboratories by 23.4% during the third quarter. Barclays PLC now owns 70,568 shares of the semiconductor company’s stock worth $8,157,000 after purchasing an additional 13,363 shares during the period.

Analyst Ratings Changes

SLAB has been the subject of a number of research analyst reports. KeyCorp cut their target price on shares of Silicon Laboratories from $150.00 to $115.00 and set an “overweight” rating for the company in a research report on Tuesday, November 5th. JPMorgan Chase & Co. cut their price objective on Silicon Laboratories from $150.00 to $135.00 and set an “overweight” rating for the company in a report on Tuesday, November 5th. StockNews.com raised Silicon Laboratories to a “sell” rating in a research report on Friday, November 8th. Barclays dropped their target price on 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. Finally, Morgan Stanley reduced their price target on Silicon Laboratories from $123.00 to $97.00 and set an “equal weight” rating for the company in a report on Tuesday, November 5th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and five have given a buy rating to the company. According to data from MarketBeat, Silicon Laboratories presently has an average rating of “Hold” and a consensus target price of $123.56.

Silicon Laboratories Stock Performance

SLAB opened at $133.09 on Friday. Silicon Laboratories Inc. has a twelve month low of $94.00 and a twelve month high of $154.91. The business has a 50 day moving average price of $117.64 and a 200 day moving average price of $114.04. The firm has a market cap of $4.32 billion, a P/E ratio of -17.99 and a beta of 1.17.

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

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.