PDT Partners LLC Boosts Holdings in Silicon Laboratories Inc. (NASDAQ:SLAB)

PDT Partners LLC lifted its stake in shares of Silicon Laboratories Inc. (NASDAQ:SLAB) by 27.5% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 4,238 shares of the semiconductor company’s stock after buying an additional 915 shares during the quarter. PDT Partners LLC’s holdings in Silicon Laboratories were worth $490,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently bought and sold shares of SLAB. CWM LLC grew its holdings in shares of Silicon Laboratories by 185.0% during the 2nd quarter. CWM LLC now owns 8,435 shares of the semiconductor company’s stock worth $933,000 after acquiring an additional 5,475 shares during the period. SG Americas Securities LLC raised its holdings in Silicon Laboratories by 284.6% in the second quarter. SG Americas Securities LLC now owns 7,076 shares of the semiconductor company’s stock worth $783,000 after purchasing an additional 5,236 shares in the last quarter. Intech Investment Management LLC lifted its position in Silicon Laboratories by 82.9% during the third quarter. Intech Investment Management LLC now owns 12,837 shares of the semiconductor company’s stock valued at $1,484,000 after buying an additional 5,818 shares during the period. Clearbridge Investments LLC boosted its holdings in shares of Silicon Laboratories by 84.0% during the 2nd 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 in the last quarter. Finally, Premier Fund Managers Ltd purchased a new stake in shares of Silicon Laboratories in the 3rd quarter worth about $934,000.

Analysts Set New Price Targets

SLAB has been the subject of a number of recent research reports. Morgan Stanley lowered their price target on shares of Silicon Laboratories from $123.00 to $97.00 and set an “equal weight” rating for the company in a research report on Tuesday, November 5th. Stifel Nicolaus dropped their price target 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. JPMorgan Chase & Co. reduced their price objective on Silicon Laboratories from $150.00 to $135.00 and set an “overweight” rating for the company in a research report on Tuesday, November 5th. Barclays dropped their target price on Silicon Laboratories from $120.00 to $75.00 and set an “equal weight” rating on the stock in a report on Tuesday, November 5th. Finally, KeyCorp reduced their price target on Silicon Laboratories from $150.00 to $115.00 and set an “overweight” rating for the company in a report 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 data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $121.50.

Silicon Laboratories Price Performance

Silicon Laboratories stock opened at $115.40 on Tuesday. Silicon Laboratories Inc. has a one year low of $94.00 and a one year high of $154.91. The business’s fifty day moving average is $110.92 and its 200 day moving average is $113.35. The stock has a market capitalization of $3.74 billion, a PE ratio of -15.59 and a beta of 1.20.

Silicon Laboratories (NASDAQ:SLAB) last announced its quarterly earnings results on Monday, November 4th. The semiconductor company reported ($0.13) EPS for the quarter, topping analysts’ consensus estimates of ($0.20) by $0.07. The firm had revenue of $166.00 million during the quarter, compared to analyst estimates 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 in the previous year, the business posted $0.48 earnings per share. As a group, sell-side analysts expect that Silicon Laboratories Inc. will post -3.56 EPS for the current fiscal 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.