Victory Capital Management Inc. Has $704,000 Position in Silicon Laboratories Inc. (NASDAQ:SLAB)

Victory Capital Management Inc. cut its position in Silicon Laboratories Inc. (NASDAQ:SLAB) by 8.3% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 6,089 shares of the semiconductor company’s stock after selling 549 shares during the period. Victory Capital Management Inc.’s holdings in Silicon Laboratories were worth $704,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. Cullen Frost Bankers Inc. acquired a new stake in Silicon Laboratories during the 2nd quarter worth $28,000. GAMMA Investing LLC raised its position in shares of Silicon Laboratories by 84.1% during the third quarter. GAMMA Investing LLC now owns 497 shares of the semiconductor company’s stock worth $57,000 after purchasing an additional 227 shares during the period. Daiwa Securities Group Inc. acquired a new stake in shares of Silicon Laboratories during the second quarter worth about $60,000. Lazard Asset Management LLC bought a new position in shares of Silicon Laboratories during the 1st quarter valued at about $103,000. Finally, Migdal Insurance & Financial Holdings Ltd. acquired a new position in shares of Silicon Laboratories in the 2nd quarter valued at approximately $82,000.

Insiders Place Their Bets

In other news, SVP Brandon Tolany sold 845 shares of Silicon Laboratories stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $115.00, for a total value of $97,175.00. Following the completion of the transaction, the senior vice president now owns 43,615 shares of the company’s stock, valued at $5,015,725. This trade represents a 1.90 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 1.72% of the company’s stock.

Wall Street Analysts Forecast Growth

SLAB has been the topic of several research analyst reports. Barclays dropped their target price on shares of Silicon Laboratories from $120.00 to $75.00 and set an “equal weight” rating on the stock in a report on Tuesday, November 5th. Stifel Nicolaus dropped their price objective on shares of Silicon Laboratories from $160.00 to $135.00 and set a “buy” rating on the stock in a report on Tuesday, November 5th. Benchmark reaffirmed a “hold” rating on shares of Silicon Laboratories in a research note on Tuesday, November 5th. JPMorgan Chase & Co. dropped their price target on Silicon Laboratories from $150.00 to $135.00 and set an “overweight” rating on the stock in a research note on Tuesday, November 5th. Finally, KeyCorp reduced their price objective on Silicon Laboratories from $150.00 to $115.00 and set an “overweight” rating for the company in a research report on Tuesday, November 5th. One analyst has rated the stock with a sell rating, five have given a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $121.50.

Silicon Laboratories Stock Performance

NASDAQ:SLAB opened at $108.78 on Friday. Silicon Laboratories Inc. has a 52-week low of $94.00 and a 52-week high of $154.91. The company has a market cap of $3.53 billion, a P/E ratio of -14.70 and a beta of 1.20. The stock’s 50-day simple moving average is $111.05 and its 200 day simple moving average is $113.75.

Silicon Laboratories (NASDAQ:SLAB) last posted its quarterly earnings results on Monday, November 4th. The semiconductor company reported ($0.13) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.20) by $0.07. Silicon Laboratories had a negative return on equity of 12.60% and a negative net margin of 46.93%. The firm had revenue of $166.00 million during the quarter, compared to the consensus estimate of $165.50 million. During the same period last year, the company earned $0.48 earnings per share. The business’s revenue was down 18.5% compared to the same quarter last year. As a group, equities analysts predict that Silicon Laboratories Inc. will post -3.56 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.