Avalon Global Asset Management LLC Acquires 10,000 Shares of Silicon Laboratories Inc. (NASDAQ:SLAB)

Avalon Global Asset Management LLC increased its holdings in Silicon Laboratories Inc. (NASDAQ:SLAB) by 10.2% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 107,900 shares of the semiconductor company’s stock after buying an additional 10,000 shares during the period. Silicon Laboratories accounts for 1.9% of Avalon Global Asset Management LLC’s investment portfolio, making the stock its 16th biggest position. Avalon Global Asset Management LLC’s holdings in Silicon Laboratories were worth $12,470,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. CWM LLC boosted its holdings in shares of Silicon Laboratories by 185.0% in the second quarter. CWM LLC now owns 8,435 shares of the semiconductor company’s stock worth $933,000 after acquiring an additional 5,475 shares during the period. SG Americas Securities LLC boosted its stake in Silicon Laboratories by 284.6% in the 2nd quarter. SG Americas Securities LLC now owns 7,076 shares of the semiconductor company’s stock worth $783,000 after purchasing an additional 5,236 shares during the period. Clearbridge Investments LLC increased its position in shares of Silicon Laboratories by 84.0% during the second quarter. Clearbridge Investments LLC now owns 273,776 shares of the semiconductor company’s stock valued at $30,288,000 after buying an additional 125,022 shares during the period. Intech Investment Management LLC increased its position in shares of Silicon Laboratories by 82.9% during the third quarter. Intech Investment Management LLC now owns 12,837 shares of the semiconductor company’s stock valued at $1,484,000 after buying an additional 5,818 shares during the period. Finally, Premier Fund Managers Ltd purchased a new stake in shares of Silicon Laboratories in the third quarter worth about $934,000.

Wall Street Analyst Weigh In

Several brokerages recently commented on SLAB. Benchmark reaffirmed a “hold” rating on shares of Silicon Laboratories in a research note on Tuesday, November 5th. JPMorgan Chase & Co. reduced their price target on shares of Silicon Laboratories from $150.00 to $135.00 and set an “overweight” rating for the company in a research report on Tuesday, November 5th. Barclays lowered their price objective 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. KeyCorp reduced their target price on Silicon Laboratories from $150.00 to $115.00 and set an “overweight” rating for the company in a research report on Tuesday, November 5th. Finally, Stifel Nicolaus lowered their price target on Silicon Laboratories from $160.00 to $135.00 and set a “buy” rating on the stock in a report on Tuesday, November 5th. One research analyst has rated the stock with a sell rating, five have given a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $121.50.

Insider Buying and Selling

In related news, SVP Brandon Tolany sold 845 shares of the firm’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $115.00, for a total transaction of $97,175.00. Following the transaction, the senior vice president now directly owns 43,615 shares in the company, valued at $5,015,725. This trade represents a 1.90 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 1.72% of the stock is owned by corporate insiders.

Silicon Laboratories Trading Up 1.7 %

SLAB opened at $110.65 on Monday. The stock has a market capitalization of $3.59 billion, a P/E ratio of -14.95 and a beta of 1.20. The stock has a 50-day moving average price of $110.92 and a 200-day moving average price of $113.48. Silicon Laboratories Inc. has a 12-month low of $94.00 and a 12-month high of $154.91.

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