Loomis Sayles & Co. L P Trims Holdings in Silicon Laboratories Inc. (NASDAQ:SLAB)

Loomis Sayles & Co. L P reduced its stake in Silicon Laboratories Inc. (NASDAQ:SLAB) by 1.6% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 460,891 shares of the semiconductor company’s stock after selling 7,316 shares during the quarter. Loomis Sayles & Co. L P owned approximately 1.42% of Silicon Laboratories worth $53,266,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. CWM LLC lifted its holdings in Silicon Laboratories by 185.0% in the second quarter. CWM LLC now owns 8,435 shares of the semiconductor company’s stock valued at $933,000 after acquiring an additional 5,475 shares during the last quarter. SG Americas Securities LLC lifted its stake in shares of Silicon Laboratories by 284.6% in the 2nd quarter. SG Americas Securities LLC now owns 7,076 shares of the semiconductor company’s stock valued at $783,000 after purchasing an additional 5,236 shares during the last quarter. Clearbridge Investments LLC grew its holdings in shares of Silicon Laboratories by 84.0% during the 2nd quarter. Clearbridge Investments LLC now owns 273,776 shares of the semiconductor company’s stock worth $30,288,000 after purchasing an additional 125,022 shares during the period. Premier Fund Managers Ltd acquired a new stake in shares of Silicon Laboratories during the 3rd quarter worth about $934,000. Finally, Marshall Wace LLP purchased a new stake in Silicon Laboratories in the 2nd quarter valued at about $3,172,000.

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 transaction 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. This represents a 1.90 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 1.72% of the company’s stock.

Silicon Laboratories Price Performance

Shares of NASDAQ SLAB opened at $112.06 on Tuesday. The company has a market cap of $3.64 billion, a price-to-earnings ratio of -15.14 and a beta of 1.20. The stock’s 50-day moving average is $111.17 and its two-hundred day moving average is $113.90. Silicon Laboratories Inc. has a 1-year low of $94.00 and a 1-year high of $154.91.

Silicon Laboratories (NASDAQ:SLAB) last released its earnings results on Monday, November 4th. The semiconductor company reported ($0.13) earnings per share for the quarter, topping analysts’ consensus estimates 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 analyst estimates of $165.50 million. During the same period in the prior year, the firm earned $0.48 earnings per share. The business’s quarterly revenue was down 18.5% compared to the same quarter last year. Equities research analysts anticipate that Silicon Laboratories Inc. will post -3.56 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on SLAB. StockNews.com raised shares of Silicon Laboratories to a “sell” rating in a research note on Friday, November 8th. Barclays dropped their target price on shares of Silicon Laboratories from $120.00 to $75.00 and set an “equal weight” rating for the company in a report on Tuesday, November 5th. JPMorgan Chase & Co. decreased their price target on Silicon Laboratories from $150.00 to $135.00 and set an “overweight” rating on the stock in a research note on Tuesday, November 5th. Morgan Stanley dropped their price objective on Silicon Laboratories from $123.00 to $97.00 and set an “equal weight” rating for the company in a research note on Tuesday, November 5th. Finally, Benchmark reissued a “hold” rating on shares of Silicon Laboratories in a research note on Tuesday, November 5th. 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 stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $121.50.

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.