Silicon Laboratories, Inc. $SLAB Shares Sold by JPMorgan Chase & Co.

JPMorgan Chase & Co. trimmed its stake in Silicon Laboratories, Inc. (NASDAQ:SLAB) by 21.2% during the third quarter, according to its most recent 13F filing with the SEC. The firm owned 134,560 shares of the semiconductor company’s stock after selling 36,144 shares during the period. JPMorgan Chase & Co. owned about 0.41% of Silicon Laboratories worth $17,645,000 as of its most recent filing with the SEC.

Other large investors have also recently made changes to their positions in the company. First Horizon Corp acquired a new stake in Silicon Laboratories in the 3rd quarter valued at approximately $35,000. EverSource Wealth Advisors LLC raised its position in Silicon Laboratories by 45.7% in the third quarter. EverSource Wealth Advisors LLC now owns 274 shares of the semiconductor company’s stock valued at $36,000 after purchasing an additional 86 shares during the period. UMB Bank n.a. lifted its stake in Silicon Laboratories by 43.9% during the third quarter. UMB Bank n.a. now owns 282 shares of the semiconductor company’s stock worth $37,000 after purchasing an additional 86 shares in the last quarter. Mather Group LLC. acquired a new position in Silicon Laboratories during the third quarter worth $39,000. Finally, Hantz Financial Services Inc. boosted its position in shares of Silicon Laboratories by 189.6% during the third quarter. Hantz Financial Services Inc. now owns 362 shares of the semiconductor company’s stock worth $47,000 after buying an additional 237 shares during the period.

Silicon Laboratories Trading Down 0.1%

Shares of SLAB opened at $207.07 on Thursday. The firm has a market capitalization of $6.83 billion, a price-to-earnings ratio of -104.05 and a beta of 1.46. The firm’s fifty day simple moving average is $188.36 and its 200-day simple moving average is $152.44. Silicon Laboratories, Inc. has a twelve month low of $82.82 and a twelve month high of $208.84.

Silicon Laboratories (NASDAQ:SLAB) last posted its earnings results on Wednesday, February 4th. The semiconductor company reported $0.56 EPS for the quarter, beating the consensus estimate of $0.54 by $0.02. Silicon Laboratories had a negative return on equity of 4.07% and a negative net margin of 8.27%.The firm had revenue of $208.21 million for the quarter, compared to analyst estimates of $207.63 million. During the same quarter in the prior year, the company posted ($0.11) earnings per share. Silicon Laboratories’s revenue for the quarter was up 25.3% compared to the same quarter last year. On average, analysts predict that Silicon Laboratories, Inc. will post -0.97 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on SLAB shares. Needham & Company LLC cut Silicon Laboratories from a “buy” rating to a “hold” rating in a research note on Wednesday, February 4th. Benchmark cut Silicon Laboratories from a “buy” rating to a “hold” rating in a report on Wednesday, February 4th. Royal Bank Of Canada lifted their target price on Silicon Laboratories from $160.00 to $205.00 and gave the company a “sector perform” rating in a research report on Thursday, February 5th. KeyCorp lowered shares of Silicon Laboratories from an “overweight” rating to a “hold” rating in a research note on Wednesday, February 4th. Finally, Citigroup increased their price target on shares of Silicon Laboratories from $135.00 to $231.00 and gave the stock a “neutral” rating in a research report on Friday, February 6th. One research analyst has rated the stock with a Buy rating, eight have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, Silicon Laboratories currently has an average rating of “Hold” and an average target price of $167.78.

Insider Activity

In other news, Director Nina Richardson sold 1,355 shares of the company’s stock in a transaction dated Tuesday, January 13th. The stock was sold at an average price of $149.00, for a total transaction of $201,895.00. Following the completion of the transaction, the director directly owned 8,543 shares of the company’s stock, valued at approximately $1,272,907. This represents a 13.69% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 1.60% of the company’s stock.

About Silicon Laboratories

Silicon Laboratories (NASDAQ:SLAB) is a global semiconductor company that develops high-performance analog and mixed-signal integrated circuits, wireless system-on-chips (SoCs), microcontrollers, and radio frequency (RF) solutions. Its product portfolio is tailored to support the Internet of Things (IoT), infrastructure, industrial automation, consumer electronics, automotive, and energy markets. By combining silicon, software, and tools, Silicon Labs aims to accelerate development cycles and deliver low-power, highly integrated solutions that address demanding application requirements.

Founded in 1996 and headquartered in Austin, Texas, Silicon Labs has grown into a multinational organization with engineering and sales operations across North America, Europe, and Asia.