New York State Common Retirement Fund Reduces Holdings in Silicon Laboratories Inc. (NASDAQ:SLAB)

New York State Common Retirement Fund lowered its position in Silicon Laboratories Inc. (NASDAQ:SLAB) by 4.9% during the 4th quarter, HoldingsChannel reports. The fund owned 12,800 shares of the semiconductor company’s stock after selling 659 shares during the period. New York State Common Retirement Fund’s holdings in Silicon Laboratories were worth $1,693,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the company. L. Roy Papp & Associates LLP grew its position in Silicon Laboratories by 1.2% in the 4th quarter. L. Roy Papp & Associates LLP now owns 9,920 shares of the semiconductor company’s stock valued at $1,312,000 after acquiring an additional 120 shares during the last quarter. CWM LLC grew its holdings in shares of Silicon Laboratories by 78.1% in the fourth quarter. CWM LLC now owns 374 shares of the semiconductor company’s stock worth $49,000 after purchasing an additional 164 shares during the last quarter. Venturi Wealth Management LLC purchased a new position in Silicon Laboratories in the 3rd quarter worth about $30,000. O Shaughnessy Asset Management LLC lifted its holdings in Silicon Laboratories by 16.8% during the 3rd quarter. O Shaughnessy Asset Management LLC now owns 1,833 shares of the semiconductor company’s stock valued at $212,000 after buying an additional 264 shares in the last quarter. Finally, Stifel Financial Corp boosted its position in Silicon Laboratories by 1.7% in the 3rd quarter. Stifel Financial Corp now owns 15,809 shares of the semiconductor company’s stock valued at $1,832,000 after buying an additional 269 shares during the period.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the stock. Barclays reduced their target price on shares of Silicon Laboratories from $140.00 to $120.00 and set an “equal weight” rating on the stock in a research report on Thursday, April 25th. Benchmark restated a “hold” rating on shares of Silicon Laboratories in a report on Thursday, April 25th. Citigroup lowered their target price on Silicon Laboratories from $137.00 to $120.00 and set a “neutral” rating for the company in a report on Thursday, April 25th. JPMorgan Chase & Co. cut their price target on Silicon Laboratories from $165.00 to $150.00 and set an “overweight” rating on the stock in a research note on Thursday, April 25th. Finally, Needham & Company LLC raised shares of Silicon Laboratories from a “hold” rating to a “buy” rating and set a $150.00 price objective for the company in a research note on Thursday, April 25th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $135.00.

Silicon Laboratories Price Performance

Shares of NASDAQ SLAB opened at $127.96 on Friday. The business has a fifty day moving average price of $131.32 and a 200 day moving average price of $123.06. Silicon Laboratories Inc. has a 1-year low of $74.56 and a 1-year high of $166.94. The stock has a market capitalization of $4.08 billion, a P/E ratio of -38.66 and a beta of 1.25.

Silicon Laboratories (NASDAQ:SLAB) last released its quarterly earnings results on Wednesday, April 24th. The semiconductor company reported ($1.34) EPS for the quarter, missing the consensus estimate of ($1.29) by ($0.05). Silicon Laboratories had a negative net margin of 16.36% and a negative return on equity of 4.45%. The firm had revenue of $106.38 million for the quarter, compared to analysts’ expectations of $104.45 million. As a group, equities research analysts anticipate that Silicon Laboratories Inc. will post -3.1 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.