New York State Teachers Retirement System Trims Stock Position in Silicon Laboratories Inc. (NASDAQ:SLAB)

New York State Teachers Retirement System cut its stake in Silicon Laboratories Inc. (NASDAQ:SLAB) by 3.2% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 41,856 shares of the semiconductor company’s stock after selling 1,400 shares during the period. New York State Teachers Retirement System owned about 0.13% of Silicon Laboratories worth $5,536,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of SLAB. Belpointe Asset Management LLC raised its holdings in shares of Silicon Laboratories by 72.5% in the first quarter. Belpointe Asset Management LLC now owns 207 shares of the semiconductor company’s stock valued at $36,000 after buying an additional 87 shares during the last quarter. Venturi Wealth Management LLC purchased a new stake in shares of Silicon Laboratories in the third quarter valued at about $30,000. Live Oak Investment Partners purchased a new stake in shares of Silicon Laboratories in the fourth quarter valued at about $39,000. Global Retirement Partners LLC raised its holdings in shares of Silicon Laboratories by 31.7% in the third quarter. Global Retirement Partners LLC now owns 507 shares of the semiconductor company’s stock valued at $58,000 after buying an additional 122 shares during the last quarter. Finally, Itau Unibanco Holding S.A. purchased a new stake in shares of Silicon Laboratories in the third quarter valued at about $61,000.

Analysts Set New Price Targets

SLAB has been the topic of a number of recent analyst reports. TD Cowen boosted their price target on shares of Silicon Laboratories from $140.00 to $155.00 and gave the stock an “outperform” rating in a research note on Thursday, February 8th. Barclays boosted their price target on shares of Silicon Laboratories from $120.00 to $140.00 and gave the stock an “equal weight” rating in a research note on Thursday, February 8th. Stifel Nicolaus boosted their price target on shares of Silicon Laboratories from $136.00 to $155.00 and gave the stock a “buy” rating in a research note on Tuesday, January 2nd. StockNews.com lowered shares of Silicon Laboratories from a “hold” rating to a “sell” rating in a research note on Friday, December 29th. Finally, JPMorgan Chase & Co. upped their target price on shares of Silicon Laboratories from $145.00 to $165.00 and gave the stock an “overweight” rating in a research report on Thursday, February 8th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $143.29.

Silicon Laboratories Trading Down 3.7 %

Shares of SLAB opened at $126.32 on Friday. The firm’s 50-day moving average is $136.62 and its two-hundred day moving average is $121.82. The firm has a market capitalization of $4.03 billion, a P/E ratio of -111.79 and a beta of 1.27. Silicon Laboratories Inc. has a twelve month low of $74.56 and a twelve month high of $172.94.

Silicon Laboratories (NASDAQ:SLAB) last released its quarterly earnings results on Wednesday, February 7th. The semiconductor company reported ($1.46) EPS for the quarter, beating the consensus estimate of ($1.91) by $0.45. The business had revenue of $86.85 million for the quarter, compared to analyst estimates of $85.32 million. Silicon Laboratories had a negative net margin of 4.41% and a positive return on equity of 0.97%. Analysts predict that Silicon Laboratories Inc. will post -1.66 EPS for the current year.

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.