Silicon Laboratories Inc. (NASDAQ:SLAB) Shares Acquired by Zions Bancorporation N.A.

Zions Bancorporation N.A. increased its stake in Silicon Laboratories Inc. (NASDAQ:SLAB) by 18.8% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 11,962 shares of the semiconductor company’s stock after buying an additional 1,889 shares during the period. Zions Bancorporation N.A.’s holdings in Silicon Laboratories were worth $1,382,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in the business. Capital Research Global Investors increased its holdings in shares of Silicon Laboratories by 29.9% in the 1st quarter. Capital Research Global Investors now owns 1,217,939 shares of the semiconductor company’s stock worth $175,042,000 after acquiring an additional 280,000 shares during the period. Clearbridge Investments LLC raised its position in Silicon Laboratories by 84.0% during the second quarter. Clearbridge Investments LLC now owns 273,776 shares of the semiconductor company’s stock valued at $30,288,000 after buying an additional 125,022 shares during the period. American Century Companies Inc. boosted its holdings in shares of Silicon Laboratories by 29.5% during the second quarter. American Century Companies Inc. now owns 316,407 shares of the semiconductor company’s stock worth $35,004,000 after purchasing an additional 72,138 shares during the period. Van Berkom & Associates Inc. grew its holdings in shares of Silicon Laboratories by 8.4% during the 2nd quarter. Van Berkom & Associates Inc. now owns 609,232 shares of the semiconductor company’s stock valued at $67,399,000 after acquiring an additional 47,058 shares in the last quarter. Finally, Davidson Investment Advisors increased its position in Silicon Laboratories by 36.7% in the 2nd quarter. Davidson Investment Advisors now owns 131,453 shares of the semiconductor company’s stock worth $14,543,000 after purchasing an additional 35,317 shares during the last quarter.

Analysts Set New Price Targets

Several equities analysts have commented on the stock. StockNews.com raised shares of Silicon Laboratories to a “sell” rating in a research report on Friday, November 8th. KeyCorp dropped their price target on Silicon Laboratories from $150.00 to $115.00 and set an “overweight” rating on the stock in a research report on Tuesday, November 5th. JPMorgan Chase & Co. cut their price target on Silicon Laboratories from $150.00 to $135.00 and set an “overweight” rating for the company in a report on Tuesday, November 5th. Needham & Company LLC reaffirmed a “buy” rating and set a $150.00 price objective on shares of Silicon Laboratories in a report on Thursday, July 25th. Finally, Stifel Nicolaus dropped their price objective on Silicon Laboratories from $160.00 to $135.00 and set a “buy” rating for the company in a research note on Tuesday, November 5th. One research analyst has rated the stock with a sell rating, five have given a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $121.50.

Silicon Laboratories Stock Performance

Silicon Laboratories stock opened at $104.86 on Friday. Silicon Laboratories Inc. has a 1 year low of $94.00 and a 1 year high of $154.91. The company’s 50-day moving average is $111.77 and its two-hundred day moving average is $115.03.

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

Insider Transactions at Silicon Laboratories

In related news, SVP Brandon Tolany sold 845 shares of the firm’s 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 sale, the senior vice president now directly owns 43,615 shares in the company, valued at approximately $5,015,725. This trade represents a 1.90 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. 1.72% of the stock is owned by insiders.

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.