Silicon Laboratories, Inc. $SLAB Stake Boosted by New York Life Investment Management LLC

New York Life Investment Management LLC lifted its holdings in shares of Silicon Laboratories, Inc. (NASDAQ:SLAB) by 27.8% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 25,529 shares of the semiconductor company’s stock after buying an additional 5,550 shares during the period. New York Life Investment Management LLC owned about 0.08% of Silicon Laboratories worth $5,657,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the business. Harbor Investment Advisory LLC purchased a new stake in shares of Silicon Laboratories in the second quarter valued at approximately $28,000. Covestor Ltd raised its position in Silicon Laboratories by 206.5% in the third quarter. Covestor Ltd now owns 190 shares of the semiconductor company’s stock worth $42,000 after acquiring an additional 128 shares in the last quarter. Allworth Financial LP purchased a new position in Silicon Laboratories in the second quarter worth $42,000. EverSource Wealth Advisors LLC raised its position in Silicon Laboratories by 66.7% in the first quarter. EverSource Wealth Advisors LLC now owns 225 shares of the semiconductor company’s stock worth $47,000 after acquiring an additional 90 shares in the last quarter. Finally, Signaturefd LLC lifted its holdings in Silicon Laboratories by 15.8% in the third quarter. Signaturefd LLC now owns 373 shares of the semiconductor company’s stock valued at $83,000 after acquiring an additional 51 shares during the period.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the stock. Zacks Research upgraded shares of Silicon Laboratories from a “strong sell” rating to a “hold” rating in a research report on Monday, October 12th. Wall Street Zen raised shares of Silicon Laboratories to a “hold” rating in a research note on Saturday, October 10th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Silicon Laboratories in a report on Monday, September 21st. Six research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, Silicon Laboratories currently has a consensus rating of “Reduce” and a consensus target price of $218.00.

Silicon Laboratories Stock Up 0.2%

Shares of NASDAQ:SLAB opened at $222.12 on Friday. The company has a market capitalization of $7.41 billion, a P/E ratio of -358.26 and a beta of 1.20. The stock’s fifty day simple moving average is $221.30 and its 200-day simple moving average is $213.55. Silicon Laboratories, Inc. has a 52-week low of $115.50 and a 52-week high of $223.50.

Silicon Laboratories (NASDAQ:SLAB) last issued its quarterly earnings results on Tuesday, November 10th. The semiconductor company reported $1.05 EPS for the quarter, topping analysts’ consensus estimates of $0.85 by $0.20. The business had revenue of $250.89 million during the quarter, compared to the consensus estimate of $242.00 million. Silicon Laboratories had a negative net margin of 2.26% and a positive return on equity of 1.51%. The company’s quarterly revenue was up 21.8% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.32 earnings per share. On average, sell-side analysts anticipate that Silicon Laboratories, Inc. will post 0.52 earnings per share for the current year.

Silicon Laboratories Company Profile

Silicon Laboratories (NASDAQ: SLAB), also known as Silicon Labs, is a fabless semiconductor company headquartered in Austin, Texas. Founded in 1996, the company focuses on wireless connectivity and embedded technologies for the Internet of Things (IoT). Its products include wireless system-on-chips, microcontrollers, modules, software and development tools. These solutions support technologies such as Bluetooth, Wi-Fi, Zigbee, Thread and Matter, helping devices communicate and operate in applications across smart homes, commercial buildings and industrial settings.