Silicon Laboratories Inc. (NASDAQ:SLAB) Shares Acquired by Franklin Resources Inc.

Franklin Resources Inc. increased its position in shares of Silicon Laboratories Inc. (NASDAQ:SLAB) by 1.9% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 231,889 shares of the semiconductor company’s stock after buying an additional 4,278 shares during the period. Franklin Resources Inc. owned about 0.71% of Silicon Laboratories worth $27,001,000 at the end of the most recent reporting period.

A number of other institutional investors also recently added to or reduced their stakes in SLAB. Tidal Investments LLC acquired a new stake in shares of Silicon Laboratories in the 3rd quarter valued at $520,000. Geode Capital Management LLC increased its holdings in Silicon Laboratories by 2.1% in the third quarter. Geode Capital Management LLC now owns 781,049 shares of the semiconductor company’s stock valued at $90,282,000 after buying an additional 15,728 shares during the last quarter. Barclays PLC raised its stake in Silicon Laboratories by 23.4% in the third quarter. Barclays PLC now owns 70,568 shares of the semiconductor company’s stock valued at $8,157,000 after buying an additional 13,363 shares in the last quarter. MML Investors Services LLC lifted its holdings in Silicon Laboratories by 5.3% during the 3rd quarter. MML Investors Services LLC now owns 7,328 shares of the semiconductor company’s stock worth $847,000 after buying an additional 370 shares during the last quarter. Finally, Wellington Management Group LLP boosted its position in shares of Silicon Laboratories by 28.3% during the 3rd quarter. Wellington Management Group LLP now owns 888,382 shares of the semiconductor company’s stock worth $102,670,000 after acquiring an additional 195,997 shares in the last quarter.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the company. Stifel Nicolaus cut their target price on Silicon Laboratories from $160.00 to $135.00 and set a “buy” rating on the stock in a research report on Tuesday, November 5th. KeyCorp dropped their target price on shares of Silicon Laboratories from $150.00 to $115.00 and set an “overweight” rating on the stock in a research report on Tuesday, November 5th. Barclays cut their price target on shares of Silicon Laboratories from $120.00 to $75.00 and set an “equal weight” rating on the stock in a research note on Tuesday, November 5th. Susquehanna initiated coverage on Silicon Laboratories in a report on Tuesday. They set a “neutral” rating and a $130.00 price objective on the stock. Finally, JPMorgan Chase & Co. cut their target price on Silicon Laboratories from $150.00 to $135.00 and set an “overweight” rating on the stock in a research report on Tuesday, November 5th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, Silicon Laboratories currently has an average rating of “Hold” and a consensus price target of $122.44.

Silicon Laboratories Trading Down 4.8 %

Silicon Laboratories stock opened at $122.82 on Thursday. The stock has a 50 day moving average of $112.80 and a two-hundred day moving average of $112.95. Silicon Laboratories Inc. has a twelve month low of $94.00 and a twelve month high of $154.91. The stock has a market capitalization of $3.99 billion, a price-to-earnings ratio of -16.60 and a beta of 1.21.

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

Silicon Laboratories 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.