JPMorgan Chase & Co. Reduces Stock Holdings in Silicon Laboratories, Inc. $SLAB

JPMorgan Chase & Co. lessened its stake in shares of Silicon Laboratories, Inc. (NASDAQ:SLAB) by 21.2% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 134,560 shares of the semiconductor company’s stock after selling 36,144 shares during the quarter. JPMorgan Chase & Co.’s holdings in Silicon Laboratories were worth $17,645,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of SLAB. AQR Capital Management LLC grew its position in shares of Silicon Laboratories by 43.7% in the 1st quarter. AQR Capital Management LLC now owns 17,892 shares of the semiconductor company’s stock valued at $2,001,000 after buying an additional 5,439 shares during the last quarter. Millennium Management LLC lifted its position in Silicon Laboratories by 2,804.1% in the first quarter. Millennium Management LLC now owns 99,842 shares of the semiconductor company’s stock valued at $11,239,000 after acquiring an additional 96,404 shares during the last quarter. Jones Financial Companies Lllp boosted its stake in Silicon Laboratories by 121.4% in the first quarter. Jones Financial Companies Lllp now owns 496 shares of the semiconductor company’s stock valued at $56,000 after acquiring an additional 272 shares in the last quarter. United Services Automobile Association acquired a new position in Silicon Laboratories in the first quarter valued at $235,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in shares of Silicon Laboratories by 1.8% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 97,156 shares of the semiconductor company’s stock worth $10,937,000 after purchasing an additional 1,679 shares during the last quarter.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on SLAB. Needham & Company LLC cut Silicon Laboratories from a “buy” rating to a “hold” rating in a research report on Wednesday, February 4th. KeyCorp downgraded Silicon Laboratories from an “overweight” rating to a “hold” rating in a research note on Wednesday, February 4th. Benchmark lowered Silicon Laboratories from a “buy” rating to a “hold” rating in a research report on Wednesday, February 4th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Silicon Laboratories in a research note on Monday, December 29th. Finally, Royal Bank Of Canada raised their target price 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. One analyst has rated the stock with a Buy rating, eight have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Silicon Laboratories currently has a consensus rating of “Hold” and a consensus price target of $167.78.

Insider Activity at Silicon Laboratories

In other news, Director Nina Richardson sold 1,355 shares of the company’s stock in a transaction on Tuesday, January 13th. The shares were sold at an average price of $149.00, for a total transaction of $201,895.00. Following the transaction, the director directly owned 8,543 shares of the company’s stock, valued at $1,272,907. This represents a 13.69% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 1.60% of the company’s stock.

Silicon Laboratories Price Performance

SLAB opened at $207.07 on Thursday. Silicon Laboratories, Inc. has a 12 month low of $82.82 and a 12 month high of $208.84. The stock has a market capitalization of $6.83 billion, a P/E ratio of -104.05 and a beta of 1.46. The business has a 50 day simple moving average of $188.36 and a 200-day simple moving average of $152.44.

Silicon Laboratories (NASDAQ:SLAB) last announced its quarterly earnings data on Wednesday, February 4th. The semiconductor company reported $0.56 earnings per share for the quarter, topping analysts’ consensus estimates of $0.54 by $0.02. The firm had revenue of $208.21 million for the quarter, compared to analyst estimates of $207.63 million. Silicon Laboratories had a negative return on equity of 4.07% and a negative net margin of 8.27%.Silicon Laboratories’s quarterly revenue was up 25.3% on a year-over-year basis. During the same quarter in the prior year, the company posted ($0.11) earnings per share. Research analysts anticipate that Silicon Laboratories, Inc. will post -0.97 EPS 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.