Cerity Partners LLC Acquires Shares of 1,733 Silicon Laboratories Inc. (NASDAQ:SLAB)

Cerity Partners LLC purchased a new position in Silicon Laboratories Inc. (NASDAQ:SLAB) during the 4th quarter, Holdings Channel.com reports. The institutional investor purchased 1,733 shares of the semiconductor company’s stock, valued at approximately $229,000.

Several other hedge funds and other institutional investors have also made changes to their positions in SLAB. Adage Capital Partners GP L.L.C. bought a new position in shares of Silicon Laboratories in the 3rd quarter worth $24,453,000. Van Berkom & Associates Inc. boosted its position in shares of Silicon Laboratories by 36.2% in the 3rd quarter. Van Berkom & Associates Inc. now owns 572,762 shares of the semiconductor company’s stock worth $66,377,000 after purchasing an additional 152,269 shares during the last quarter. Schwartz Investment Counsel Inc. raised its stake in Silicon Laboratories by 69.6% during the 4th quarter. Schwartz Investment Counsel Inc. now owns 195,000 shares of the semiconductor company’s stock worth $25,793,000 after buying an additional 80,000 shares during the period. Federated Hermes Inc. raised its stake in Silicon Laboratories by 17.6% during the 3rd quarter. Federated Hermes Inc. now owns 483,127 shares of the semiconductor company’s stock worth $55,990,000 after buying an additional 72,168 shares during the period. Finally, Vanguard Group Inc. raised its stake in Silicon Laboratories by 1.7% during the 3rd 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 period.

Silicon Laboratories Price Performance

SLAB opened at $123.75 on Tuesday. The business’s 50-day moving average price is $133.25 and its two-hundred day moving average price is $122.29. The company has a market capitalization of $3.95 billion, a price-to-earnings ratio of -37.39 and a beta of 1.27. Silicon Laboratories Inc. has a 1 year low of $74.56 and a 1 year high of $166.94.

Silicon Laboratories (NASDAQ:SLAB) last released its earnings results on Wednesday, April 24th. The semiconductor company reported ($1.34) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.29) by ($0.05). The company had revenue of $106.38 million during the quarter, compared to analyst estimates of $104.45 million. Silicon Laboratories had a negative net margin of 16.36% and a negative return on equity of 4.45%. Sell-side analysts anticipate that Silicon Laboratories Inc. will post -1.66 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts recently commented on the company. Needham & Company LLC raised Silicon Laboratories from a “hold” rating to a “buy” rating and set a $150.00 price objective on the stock in a research note on Thursday, April 25th. Barclays dropped their price objective on Silicon Laboratories from $140.00 to $120.00 and set an “equal weight” rating on the stock in a research note on Thursday, April 25th. Citigroup dropped their price objective on Silicon Laboratories from $137.00 to $120.00 and set a “neutral” rating on the stock in a research note on Thursday, April 25th. Summit Insights downgraded Silicon Laboratories from a “buy” rating to a “hold” rating in a research note on Wednesday, April 24th. Finally, Stifel Nicolaus raised their price objective on Silicon Laboratories from $136.00 to $155.00 and gave the stock a “buy” rating in a research note on Tuesday, January 2nd. One analyst has rated the stock with a sell rating, six have assigned a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $135.00.

About Silicon Laboratories

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.