JPMorgan Chase & Co. Has $17.65 Million Stock Holdings in Silicon Laboratories, Inc. $SLAB

JPMorgan Chase & Co. decreased its stake in shares of Silicon Laboratories, Inc. (NASDAQ:SLAB) by 21.2% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 134,560 shares of the semiconductor company’s stock after selling 36,144 shares during the quarter. JPMorgan Chase & Co.’s holdings in Silicon Laboratories were worth $17,645,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. State Street Corp grew its stake in shares of Silicon Laboratories by 0.5% in the second quarter. State Street Corp now owns 1,517,813 shares of the semiconductor company’s stock valued at $223,665,000 after buying an additional 7,139 shares in the last quarter. Geode Capital Management LLC lifted its stake in Silicon Laboratories by 0.9% in the second quarter. Geode Capital Management LLC now owns 810,736 shares of the semiconductor company’s stock valued at $119,484,000 after acquiring an additional 7,519 shares during the last quarter. American Century Companies Inc. grew its position in shares of Silicon Laboratories by 26.1% in the 2nd quarter. American Century Companies Inc. now owns 643,142 shares of the semiconductor company’s stock valued at $94,774,000 after acquiring an additional 132,964 shares during the period. Bank of America Corp DE increased its stake in shares of Silicon Laboratories by 1.7% during the 2nd quarter. Bank of America Corp DE now owns 458,791 shares of the semiconductor company’s stock worth $67,607,000 after purchasing an additional 7,743 shares during the last quarter. Finally, Federated Hermes Inc. raised its holdings in shares of Silicon Laboratories by 1.1% in the 3rd quarter. Federated Hermes Inc. now owns 458,016 shares of the semiconductor company’s stock valued at $60,060,000 after purchasing an additional 4,989 shares during the period.

Analyst Upgrades and Downgrades

SLAB has been the subject of a number of research analyst reports. Needham & Company LLC cut Silicon Laboratories from a “buy” rating to a “hold” rating in a report on Wednesday, February 4th. Royal Bank Of Canada raised their price objective on Silicon Laboratories from $160.00 to $205.00 and gave the company a “sector perform” rating in a research report on Thursday, February 5th. Citigroup lifted their target price on Silicon Laboratories from $135.00 to $231.00 and gave the stock a “neutral” rating in a research note on Friday, February 6th. KeyCorp cut Silicon Laboratories from an “overweight” 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 equities research analyst has rated the stock with a Buy rating, eight have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Silicon Laboratories presently has an average rating of “Hold” and a consensus target price of $167.78.

Silicon Laboratories Trading Down 0.6%

NASDAQ:SLAB opened at $203.64 on Wednesday. The stock has a 50 day simple moving average of $167.45 and a 200 day simple moving average of $144.83. The stock has a market cap of $6.71 billion, a P/E ratio of -102.33 and a beta of 1.46. Silicon Laboratories, Inc. has a 1-year low of $82.82 and a 1-year high of $208.84.

Silicon Laboratories (NASDAQ:SLAB) last issued its quarterly earnings data on Wednesday, February 4th. The semiconductor company reported $0.56 EPS for the quarter, beating analysts’ consensus estimates 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 analyst estimates of $207.63 million. During the same period in the prior year, the firm posted ($0.11) EPS. The company’s revenue for the quarter was up 25.3% on a year-over-year basis. As a group, sell-side analysts forecast that Silicon Laboratories, Inc. will post -0.97 EPS for the current year.

Insider Transactions at Silicon Laboratories

In other 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 transaction, the director directly owned 8,543 shares of the company’s stock, valued at approximately $1,272,907. This trade represents a 13.69% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Brandon Tolany sold 4,246 shares of Silicon Laboratories stock in a transaction that occurred on Thursday, December 4th. The shares were sold at an average price of $140.17, for a total transaction of $595,161.82. Following the completion of the sale, the senior vice president owned 62,381 shares of the company’s stock, valued at approximately $8,743,944.77. The trade was a 6.37% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 7,555 shares of company stock worth $1,073,528. 1.60% of the stock is owned by insiders.

About Silicon Laboratories

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.