Capital Research Global Investors Sells 395,000 Shares of Silicon Laboratories, Inc. $SLAB

Capital Research Global Investors decreased its position in Silicon Laboratories, Inc. (NASDAQ:SLAB) by 32.7% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 811,937 shares of the semiconductor company’s stock after selling 395,000 shares during the period. Capital Research Global Investors’ holdings in Silicon Laboratories were worth $106,469,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. AQR Capital Management LLC increased its stake in Silicon Laboratories by 1,970.7% during the 2nd quarter. AQR Capital Management LLC now owns 370,492 shares of the semiconductor company’s stock valued at $54,516,000 after purchasing an additional 352,600 shares in the last quarter. Westfield Capital Management Co. LP purchased a new position in Silicon Laboratories in the third quarter worth about $44,887,000. Norges Bank bought a new position in shares of Silicon Laboratories in the second quarter worth approximately $45,857,000. American Century Companies Inc. grew its holdings in shares of Silicon Laboratories by 26.1% during the second quarter. American Century Companies Inc. now owns 643,142 shares of the semiconductor company’s stock valued at $94,774,000 after buying an additional 132,964 shares during the last quarter. Finally, Squarepoint Ops LLC grew its holdings in shares of Silicon Laboratories by 244.1% during the second quarter. Squarepoint Ops LLC now owns 167,595 shares of the semiconductor company’s stock valued at $24,697,000 after buying an additional 118,883 shares during the last quarter.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the stock. Royal Bank Of Canada boosted their price objective on shares of Silicon Laboratories from $160.00 to $205.00 and gave the stock a “sector perform” rating in a report on Thursday, February 5th. Benchmark downgraded Silicon Laboratories from a “buy” rating to a “hold” rating in a research note on Wednesday, February 4th. Citigroup lifted their target price on Silicon Laboratories from $135.00 to $231.00 and gave the stock a “neutral” rating in a report on Friday, February 6th. Needham & Company LLC cut Silicon Laboratories from a “buy” rating to a “hold” rating in a research note on Wednesday, February 4th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Silicon Laboratories in a report on Monday, December 29th. One analyst has rated the stock with a Buy rating, eight have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $167.78.

Insider Transactions at Silicon Laboratories

In other Silicon Laboratories news, Director Nina Richardson sold 1,355 shares of the firm’s stock in a transaction that occurred on Tuesday, January 13th. The shares were sold at an average price of $149.00, for a total transaction of $201,895.00. Following the sale, the director owned 8,543 shares in the company, valued at approximately $1,272,907. This trade represents a 13.69% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 1.60% of the company’s stock.

Silicon Laboratories Stock Performance

NASDAQ:SLAB opened at $201.70 on Thursday. The stock has a 50-day simple moving average of $175.80 and a two-hundred day simple moving average of $147.59. The firm has a market capitalization of $6.65 billion, a PE ratio of -101.36 and a beta of 1.46. Silicon Laboratories, Inc. has a 52-week low of $82.82 and a 52-week high of $208.84.

Silicon Laboratories (NASDAQ:SLAB) last posted its quarterly earnings data on Wednesday, February 4th. The semiconductor company reported $0.56 EPS for the quarter, topping the consensus estimate of $0.54 by $0.02. Silicon Laboratories had a negative return on equity of 4.07% and a negative net margin of 8.27%.The firm had revenue of $208.21 million for the quarter, compared to the consensus estimate of $207.63 million. During the same quarter last year, the company earned ($0.11) earnings per share. The business’s revenue for the quarter was up 25.3% compared to the same quarter last year. Equities analysts forecast that Silicon Laboratories, Inc. will post -0.97 earnings per share for the current fiscal year.

Silicon Laboratories Profile

Silicon Laboratories (NASDAQ:SLAB) is a global semiconductor company that develops high-performance analog and mixed-signal integrated circuits, wireless system-on-chips (SoCs), microcontrollers, and radio frequency (RF) solutions. Its product portfolio is tailored to support the Internet of Things (IoT), infrastructure, industrial automation, consumer electronics, automotive, and energy markets. By combining silicon, software, and tools, Silicon Labs aims to accelerate development cycles and deliver low-power, highly integrated solutions that address demanding application requirements.

Founded in 1996 and headquartered in Austin, Texas, Silicon Labs has grown into a multinational organization with engineering and sales operations across North America, Europe, and Asia.