Silicon Laboratories Inc. (NASDAQ:SLAB) Shares Sold by Arizona State Retirement System

Arizona State Retirement System lessened its stake in shares of Silicon Laboratories Inc. (NASDAQ:SLAB) by 1.8% during the fourth quarter, Holdings Channel.com reports. The fund owned 8,908 shares of the semiconductor company’s stock after selling 164 shares during the period. Arizona State Retirement System’s holdings in Silicon Laboratories were worth $1,178,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the stock. Vanguard Group Inc. grew its position in Silicon Laboratories by 1.7% in the third quarter. Vanguard Group Inc. now owns 3,285,032 shares of the semiconductor company’s stock worth $380,702,000 after buying an additional 55,586 shares during the last quarter. Macquarie Group Ltd. grew its position in Silicon Laboratories by 17.3% in the first quarter. Macquarie Group Ltd. now owns 730,300 shares of the semiconductor company’s stock worth $127,868,000 after buying an additional 107,562 shares during the last quarter. Geode Capital Management LLC grew its position in Silicon Laboratories by 1.0% in the first quarter. Geode Capital Management LLC now owns 630,575 shares of the semiconductor company’s stock worth $110,407,000 after buying an additional 6,329 shares during the last quarter. Van Berkom & Associates Inc. grew its position in Silicon Laboratories by 36.2% in the third quarter. Van Berkom & Associates Inc. now owns 572,762 shares of the semiconductor company’s stock worth $66,377,000 after buying an additional 152,269 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its position in Silicon Laboratories by 1.5% in the first quarter. Dimensional Fund Advisors LP now owns 516,660 shares of the semiconductor company’s stock worth $77,605,000 after buying an additional 7,766 shares during the last quarter.

Analysts Set New Price Targets

Several research analysts have issued reports on SLAB shares. StockNews.com lowered shares of Silicon Laboratories from a “hold” rating to a “sell” rating in a research report on Friday, December 29th. TD Cowen lifted their price target on shares of Silicon Laboratories from $140.00 to $155.00 and gave the stock an “outperform” rating in a research report on Thursday, February 8th. Stifel Nicolaus raised their price objective 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. JPMorgan Chase & Co. raised their price objective on shares of Silicon Laboratories from $145.00 to $165.00 and gave the stock an “overweight” rating in a research note on Thursday, February 8th. Finally, Barclays raised their price objective 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. One analyst has rated the stock with a sell rating, four have issued a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, Silicon Laboratories has an average rating of “Hold” and a consensus target price of $143.29.

Silicon Laboratories Stock Performance

Silicon Laboratories stock opened at $124.37 on Tuesday. The company has a 50 day moving average price of $136.71 and a 200 day moving average price of $121.92. The firm has a market capitalization of $3.97 billion, a price-to-earnings ratio of -110.06 and a beta of 1.27. Silicon Laboratories Inc. has a 52 week low of $74.56 and a 52 week high of $172.94.

Silicon Laboratories (NASDAQ:SLAB) last issued its earnings results on Wednesday, February 7th. The semiconductor company reported ($1.46) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($1.91) by $0.45. The company had revenue of $86.85 million during 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%. Equities analysts forecast that Silicon Laboratories Inc. will post -1.66 earnings per share for the current fiscal 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.