Meeder Asset Management Inc. Raises Stock Position in Silicon Laboratories Inc. (NASDAQ:SLAB)

Meeder Asset Management Inc. grew its holdings in shares of Silicon Laboratories Inc. (NASDAQ:SLAB) by 250.1% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,743 shares of the semiconductor company’s stock after buying an additional 2,674 shares during the quarter. Meeder Asset Management Inc.’s holdings in Silicon Laboratories were worth $433,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in SLAB. Cullen Frost Bankers Inc. bought a new stake in Silicon Laboratories during the second quarter worth approximately $28,000. GAMMA Investing LLC increased its position in shares of Silicon Laboratories by 84.1% during the 3rd quarter. GAMMA Investing LLC now owns 497 shares of the semiconductor company’s stock valued at $57,000 after purchasing an additional 227 shares during the last quarter. Daiwa Securities Group Inc. purchased a new stake in Silicon Laboratories during the 2nd quarter valued at $60,000. Migdal Insurance & Financial Holdings Ltd. bought a new stake in Silicon Laboratories in the second quarter worth $82,000. Finally, International Assets Investment Management LLC boosted its stake in Silicon Laboratories by 11,457.1% during the third quarter. International Assets Investment Management LLC now owns 809 shares of the semiconductor company’s stock worth $93,000 after buying an additional 802 shares during the period.

Analyst Upgrades and Downgrades

SLAB has been the topic of several recent analyst reports. Morgan Stanley reduced their target price on shares of Silicon Laboratories from $123.00 to $97.00 and set an “equal weight” rating on the stock in a research note on Tuesday, November 5th. JPMorgan Chase & Co. dropped their target price 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. Stifel Nicolaus reduced their price target on Silicon Laboratories from $160.00 to $135.00 and set a “buy” rating on the stock in a report on Tuesday, November 5th. KeyCorp dropped their price objective on Silicon Laboratories from $150.00 to $115.00 and set an “overweight” rating for the company in a report on Tuesday, November 5th. Finally, StockNews.com upgraded Silicon Laboratories to a “sell” rating in a research note on Friday, November 8th. One research analyst has rated the stock with a sell rating, five have given a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $121.50.

Silicon Laboratories Price Performance

SLAB stock opened at $98.40 on Wednesday. Silicon Laboratories Inc. has a 1-year low of $94.00 and a 1-year high of $154.91. The business has a 50-day moving average price of $111.42 and a 200 day moving average price of $114.48. The company has a market capitalization of $3.19 billion, a P/E ratio of -13.30 and a beta of 1.20.

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

Insider Buying and Selling

In other news, SVP Brandon Tolany sold 845 shares of Silicon Laboratories stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $115.00, for a total transaction 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. The trade was a 1.90 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 1.72% of the stock is owned by company 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.