Silicon Laboratories, Inc. (NASDAQ:SLAB) Stock Position Lifted by US Bancorp DE

US Bancorp DE lifted its stake in shares of Silicon Laboratories, Inc. (NASDAQ:SLAB) by 22.6% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 2,086 shares of the semiconductor company’s stock after purchasing an additional 385 shares during the quarter. US Bancorp DE’s holdings in Silicon Laboratories were worth $235,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in SLAB. Wells Fargo & Company MN increased its position in Silicon Laboratories by 10.8% in the 4th quarter. Wells Fargo & Company MN now owns 40,988 shares of the semiconductor company’s stock valued at $5,092,000 after acquiring an additional 3,996 shares during the period. Bank of Montreal Can boosted its position in shares of Silicon Laboratories by 25.6% in the 4th quarter. Bank of Montreal Can now owns 4,474 shares of the semiconductor company’s stock valued at $556,000 after purchasing an additional 911 shares during the period. Raymond James Financial Inc. acquired a new position in shares of Silicon Laboratories in the 4th quarter valued at $14,252,000. Synovus Financial Corp boosted its position in shares of Silicon Laboratories by 24.4% in the fourth quarter. Synovus Financial Corp now owns 4,401 shares of the semiconductor company’s stock worth $547,000 after buying an additional 862 shares during the period. Finally, Barclays PLC boosted its position in shares of Silicon Laboratories by 22.8% in the fourth quarter. Barclays PLC now owns 86,648 shares of the semiconductor company’s stock worth $10,764,000 after buying an additional 16,080 shares during the period.

Silicon Laboratories Stock Performance

Shares of SLAB stock opened at $133.14 on Friday. The stock’s fifty day moving average is $139.23 and its 200-day moving average is $127.93. The stock has a market capitalization of $4.37 billion, a PE ratio of -41.35 and a beta of 1.48. Silicon Laboratories, Inc. has a 52 week low of $82.82 and a 52 week high of $160.00.

Silicon Laboratories (NASDAQ:SLAB) last announced its quarterly earnings data on Tuesday, August 5th. The semiconductor company reported $0.11 EPS for the quarter, beating analysts’ consensus estimates of $0.09 by $0.02. The firm had revenue of $192.85 million for the quarter, compared to analyst estimates of $192.57 million. Silicon Laboratories had a negative return on equity of 7.21% and a negative net margin of 14.88%. The business’s quarterly revenue was up 32.6% compared to the same quarter last year. During the same period last year, the company earned ($0.56) EPS. As a group, analysts forecast that Silicon Laboratories, Inc. will post -0.97 earnings per share for the current fiscal year.

Analysts Set New Price Targets

SLAB has been the subject of several recent analyst reports. Stifel Nicolaus raised their target price on Silicon Laboratories from $144.00 to $160.00 and gave the stock a “buy” rating in a research report on Friday, July 18th. Susquehanna boosted their price target on Silicon Laboratories from $110.00 to $150.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 22nd. KeyCorp boosted their price objective on Silicon Laboratories from $160.00 to $180.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 8th. Wall Street Zen upgraded Silicon Laboratories from a “sell” rating to a “hold” rating in a research report on Wednesday, May 14th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $150.00 price objective on shares of Silicon Laboratories in a research note on Wednesday, May 14th. Four analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $151.13.

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.