Allspring Global Investments Holdings LLC Has $7.32 Million Holdings in Silicon Laboratories Inc. (NASDAQ:SLAB)

Allspring Global Investments Holdings LLC decreased its position in shares of Silicon Laboratories Inc. (NASDAQ:SLAB) by 45.9% during the 4th quarter, HoldingsChannel reports. The fund owned 55,316 shares of the semiconductor company’s stock after selling 46,936 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Silicon Laboratories were worth $7,317,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of SLAB. Park Avenue Securities LLC acquired a new stake in shares of Silicon Laboratories during the third quarter valued at about $339,000. Venturi Wealth Management LLC bought a new position in Silicon Laboratories in the 3rd quarter valued at approximately $30,000. Schonfeld Strategic Advisors LLC acquired a new stake in Silicon Laboratories during the 3rd quarter worth approximately $3,652,000. Envestnet Asset Management Inc. grew its holdings in Silicon Laboratories by 37.2% during the 3rd quarter. Envestnet Asset Management Inc. now owns 90,289 shares of the semiconductor company’s stock worth $10,464,000 after acquiring an additional 24,468 shares during the last quarter. Finally, Quantbot Technologies LP increased its position in Silicon Laboratories by 72.6% in the 3rd quarter. Quantbot Technologies LP now owns 6,998 shares of the semiconductor company’s stock valued at $811,000 after acquiring an additional 2,944 shares during the period.

Analysts Set New Price Targets

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

Silicon Laboratories Trading Down 2.6 %

Shares of SLAB stock opened at $121.53 on Thursday. Silicon Laboratories Inc. has a fifty-two week low of $74.56 and a fifty-two week high of $172.94. The stock has a 50 day simple moving average of $136.59 and a two-hundred day simple moving average of $121.98.

Silicon Laboratories (NASDAQ:SLAB) last released 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 for the quarter, compared to the consensus estimate of $85.32 million. Silicon Laboratories had a negative net margin of 4.41% and a positive return on equity of 0.97%. On average, analysts forecast that Silicon Laboratories Inc. will post -1.66 earnings per share for the current year.

Silicon Laboratories 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.