State Street Corp Has $180.87 Million Stock Holdings in Silicon Laboratories Inc. (NASDAQ:SLAB)

State Street Corp trimmed its stake in shares of Silicon Laboratories Inc. (NASDAQ:SLAB) by 2.7% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,565,054 shares of the semiconductor company’s stock after selling 43,498 shares during the quarter. State Street Corp’s holdings in Silicon Laboratories were worth $180,873,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Clearbridge Investments LLC boosted its stake in shares of Silicon Laboratories by 84.0% in the 2nd quarter. Clearbridge Investments LLC now owns 273,776 shares of the semiconductor company’s stock valued at $30,288,000 after purchasing an additional 125,022 shares in the last quarter. American Century Companies Inc. increased its position in Silicon Laboratories by 29.5% in the 2nd quarter. American Century Companies Inc. now owns 316,407 shares of the semiconductor company’s stock valued at $35,004,000 after acquiring an additional 72,138 shares in the last quarter. Point72 Asset Management L.P. acquired a new position in shares of Silicon Laboratories during the third quarter worth approximately $7,408,000. FMR LLC raised its position in Silicon Laboratories by 1.1% in the 3rd quarter. FMR LLC now owns 4,843,370 shares of the semiconductor company’s stock worth $559,748,000 after purchasing an additional 54,708 shares during the last quarter. Finally, Van Berkom & Associates Inc. lifted its holdings in Silicon Laboratories by 8.4% during the 2nd quarter. Van Berkom & Associates Inc. now owns 609,232 shares of the semiconductor company’s stock worth $67,399,000 after buying an additional 47,058 shares in the last quarter.

Silicon Laboratories Trading Down 0.4 %

Shares of SLAB opened at $128.63 on Friday. The company has a market cap of $4.17 billion, a price-to-earnings ratio of -17.38 and a beta of 1.21. The company’s fifty day simple moving average is $111.73 and its 200 day simple moving average is $112.97. Silicon Laboratories Inc. has a 1-year low of $94.00 and a 1-year high of $154.91.

Silicon Laboratories (NASDAQ:SLAB) last issued 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 return on equity of 12.60% and a negative net margin of 46.93%. The company had revenue of $166.00 million during the quarter, compared to the consensus estimate of $165.50 million. During the same period in the previous year, the company posted $0.48 EPS. The firm’s revenue for the quarter was down 18.5% compared to the same quarter last year. As a group, research analysts forecast that Silicon Laboratories Inc. will post -3.56 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on SLAB. Morgan Stanley decreased their price target on Silicon Laboratories from $123.00 to $97.00 and set an “equal weight” rating on the stock in a report on Tuesday, November 5th. Barclays cut their price target on shares of 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. Benchmark reiterated a “hold” rating on shares of Silicon Laboratories in a report on Tuesday, November 5th. StockNews.com upgraded shares of Silicon Laboratories to a “sell” rating in a report on Friday, November 8th. Finally, JPMorgan Chase & Co. lowered their target price on Silicon Laboratories from $150.00 to $135.00 and set an “overweight” rating for the company in a report on Tuesday, November 5th. One equities research 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. According to MarketBeat, Silicon Laboratories has a consensus rating of “Hold” and an average target price of $121.50.

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.