Capital Research Global Investors Reduces Position in Silicon Laboratories, Inc. $SLAB

Capital Research Global Investors trimmed its position in Silicon Laboratories, Inc. (NASDAQ:SLAB) by 32.7% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 811,937 shares of the semiconductor company’s stock after selling 395,000 shares during the quarter. Capital Research Global Investors owned 2.47% of Silicon Laboratories worth $106,469,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in SLAB. Vanguard Group Inc. boosted its position in Silicon Laboratories by 1.9% during the 3rd quarter. Vanguard Group Inc. now owns 3,870,975 shares of the semiconductor company’s stock valued at $507,601,000 after buying an additional 73,773 shares during the period. State Street Corp increased its position 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 acquiring an additional 7,139 shares during the period. Geode Capital Management LLC raised its stake in shares of Silicon Laboratories by 0.9% during 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. raised its stake in shares of Silicon Laboratories by 26.1% during the second 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 last quarter. Finally, Bank of America Corp DE boosted its holdings in shares of Silicon Laboratories by 1.7% during the second 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 period.

Insiders Place Their Bets

In related news, Director Nina Richardson sold 1,355 shares of the firm’s stock in a transaction that occurred on Tuesday, January 13th. The stock was sold at an average price of $149.00, for a total transaction of $201,895.00. Following the completion of the transaction, the director owned 8,543 shares of the company’s stock, valued at $1,272,907. This trade represents a 13.69% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.60% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on SLAB. Benchmark cut Silicon Laboratories from a “buy” rating to a “hold” rating in a research note on Wednesday, February 4th. KeyCorp lowered Silicon Laboratories from an “overweight” rating to a “hold” rating in a research report on Wednesday, February 4th. Needham & Company LLC cut Silicon Laboratories from a “buy” rating to a “hold” rating in a report on Wednesday, February 4th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Silicon Laboratories in a research report on Monday, December 29th. Finally, Royal Bank Of Canada upped their target price on Silicon Laboratories from $160.00 to $205.00 and gave the company a “sector perform” rating in a report on Thursday, February 5th. One research analyst has rated the stock with a Buy rating, eight have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $167.78.

Silicon Laboratories Price Performance

NASDAQ:SLAB opened at $201.70 on Thursday. The firm has a market capitalization of $6.65 billion, a P/E ratio of -101.36 and a beta of 1.46. Silicon Laboratories, Inc. has a one year low of $82.82 and a one year high of $208.84. The company’s 50-day simple moving average is $175.80 and its 200 day simple moving average is $147.59.

Silicon Laboratories (NASDAQ:SLAB) last announced its earnings results on Wednesday, February 4th. The semiconductor company reported $0.56 earnings per share for the quarter, beating analysts’ consensus estimates of $0.54 by $0.02. Silicon Laboratories had a negative net margin of 8.27% and a negative return on equity of 4.07%. The business had revenue of $208.21 million during the quarter, compared to the consensus estimate of $207.63 million. During the same quarter last year, the firm earned ($0.11) earnings per share. The business’s revenue for the quarter was up 25.3% on a year-over-year basis. On average, equities research analysts expect that Silicon Laboratories, Inc. will post -0.97 earnings per share for the current fiscal year.

Silicon Laboratories Company Profile

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.