Comerica Bank Has $1.05 Million Stock Holdings in Silicon Laboratories, Inc. $SLAB

Comerica Bank cut its holdings in shares of Silicon Laboratories, Inc. (NASDAQ:SLAB) by 93.2% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 8,009 shares of the semiconductor company’s stock after selling 110,253 shares during the period. Comerica Bank’s holdings in Silicon Laboratories were worth $1,047,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Mitsubishi UFJ Trust & Banking Corp acquired a new stake in Silicon Laboratories during the 3rd quarter worth approximately $1,192,000. Azzad Asset Management Inc. ADV acquired a new stake in Silicon Laboratories during the 3rd quarter worth approximately $924,000. Thrivent Financial for Lutherans lifted its position in shares of Silicon Laboratories by 109.4% in the 3rd quarter. Thrivent Financial for Lutherans now owns 113,337 shares of the semiconductor company’s stock worth $14,862,000 after purchasing an additional 59,207 shares during the period. Fox Run Management L.L.C. acquired a new position in shares of Silicon Laboratories in the 3rd quarter worth approximately $1,577,000. Finally, Dynamic Technology Lab Private Ltd lifted its position in shares of Silicon Laboratories by 255.1% in the 3rd quarter. Dynamic Technology Lab Private Ltd now owns 7,030 shares of the semiconductor company’s stock worth $922,000 after purchasing an additional 5,050 shares during the period.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on SLAB shares. Royal Bank Of Canada boosted their price target on shares of Silicon Laboratories from $160.00 to $205.00 and gave the stock a “sector perform” rating in a research report on Thursday, February 5th. Needham & Company LLC downgraded shares of Silicon Laboratories from a “buy” rating to a “hold” rating in a research report on Wednesday, February 4th. Benchmark downgraded shares of Silicon Laboratories from a “buy” rating to a “hold” rating in a research report on Wednesday, February 4th. Weiss Ratings restated a “sell (d-)” rating on shares of Silicon Laboratories in a research report on Friday, March 27th. Finally, Citigroup boosted their price target on shares of Silicon Laboratories from $135.00 to $231.00 and gave the stock a “neutral” rating in a research report on Friday, February 6th. One analyst has rated the stock with a Buy rating, eight have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $167.78.

Silicon Laboratories Stock Performance

Shares of NASDAQ SLAB opened at $217.45 on Friday. The company’s 50 day moving average price is $208.98 and its 200-day moving average price is $168.64. The company has a market capitalization of $7.17 billion, a P/E ratio of -142.12 and a beta of 1.40. Silicon Laboratories, Inc. has a 52-week low of $112.78 and a 52-week high of $218.68.

Silicon Laboratories (NASDAQ:SLAB) last released its quarterly earnings data on Tuesday, May 5th. The semiconductor company reported $0.53 earnings per share for the quarter, beating the consensus estimate of $0.49 by $0.04. The company had revenue of $213.50 million during the quarter, compared to analyst estimates of $214.02 million. Silicon Laboratories had a negative net margin of 6.13% and a negative return on equity of 2.18%. Silicon Laboratories’s revenue for the quarter was up 20.1% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($0.08) EPS. Analysts forecast that Silicon Laboratories, Inc. will post 0.71 earnings per share for the current year.

Silicon Laboratories Profile

Silicon Laboratories (NASDAQ:SLAB) is a global semiconductor company that develops high-performance analog and mixed-signal integrated circuits, wireless system-on-chips (SoCs), microcontrollers, and radio frequency (RF) solutions. Its product portfolio is tailored to support the Internet of Things (IoT), infrastructure, industrial automation, consumer electronics, automotive, and energy markets. By combining silicon, software, and tools, Silicon Labs aims to accelerate development cycles and deliver low-power, highly integrated solutions that address demanding application requirements.

Founded in 1996 and headquartered in Austin, Texas, Silicon Labs has grown into a multinational organization with engineering and sales operations across North America, Europe, and Asia.