Retirement Systems of Alabama Decreases Stock Holdings in Silicon Laboratories Inc. (NASDAQ:SLAB)

Retirement Systems of Alabama reduced its position in shares of Silicon Laboratories Inc. (NASDAQ:SLAB) by 0.4% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 49,323 shares of the semiconductor company’s stock after selling 179 shares during the quarter. Retirement Systems of Alabama owned approximately 0.15% of Silicon Laboratories worth $5,700,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Point72 Asset Management L.P. bought a new position in shares of Silicon Laboratories during the third quarter valued at about $7,408,000. Intech Investment Management LLC increased its holdings in Silicon Laboratories by 82.9% during the 3rd quarter. Intech Investment Management LLC now owns 12,837 shares of the semiconductor company’s stock valued at $1,484,000 after purchasing an additional 5,818 shares during the period. Clearbridge Investments LLC raised its position in Silicon Laboratories by 84.0% during 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 during the last quarter. Premier Fund Managers Ltd purchased a new stake in Silicon Laboratories in the 3rd quarter worth approximately $934,000. Finally, Paloma Partners Management Co bought a new stake in shares of Silicon Laboratories in the 3rd quarter worth approximately $1,560,000.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the company. Stifel Nicolaus decreased their target price on Silicon Laboratories from $160.00 to $135.00 and set a “buy” rating for the company in a report on Tuesday, November 5th. 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 research report on Tuesday, November 5th. StockNews.com upgraded shares of Silicon Laboratories to a “sell” rating in a research report on Friday, November 8th. KeyCorp lowered their price objective on shares of Silicon Laboratories from $150.00 to $115.00 and set an “overweight” rating for the company in a report on Tuesday, November 5th. Finally, JPMorgan Chase & Co. reduced their target price on Silicon Laboratories from $150.00 to $135.00 and set an “overweight” rating on the stock in a report on Tuesday, November 5th. One research analyst has rated the stock with a sell rating, six have given a hold rating and five have assigned a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $122.44.

Silicon Laboratories Stock Down 4.8 %

Shares of SLAB opened at $122.82 on Thursday. The stock has a market cap of $3.99 billion, a P/E ratio of -16.60 and a beta of 1.21. The business’s 50 day moving average price is $112.80 and its 200-day moving average price is $112.95. Silicon Laboratories Inc. has a 52 week low of $94.00 and a 52 week high of $154.91.

Silicon Laboratories (NASDAQ:SLAB) last released 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 business had revenue of $166.00 million for the quarter, compared to the consensus estimate of $165.50 million. During the same period in the previous year, the company posted $0.48 earnings per share. The company’s revenue for the quarter was down 18.5% compared to the same quarter last year. On average, equities analysts anticipate that Silicon Laboratories Inc. will post -3.56 EPS for the current year.

About Silicon Laboratories

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.