JPMorgan Chase & Co. Sells 36,144 Shares of Silicon Laboratories, Inc. $SLAB

JPMorgan Chase & Co. reduced its holdings in Silicon Laboratories, Inc. (NASDAQ:SLAB) by 21.2% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 134,560 shares of the semiconductor company’s stock after selling 36,144 shares during the period. JPMorgan Chase & Co. owned approximately 0.41% of Silicon Laboratories worth $17,645,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of SLAB. First Horizon Corp acquired a new position in shares of Silicon Laboratories in the 3rd quarter valued at $35,000. UMB Bank n.a. increased its holdings in Silicon Laboratories by 43.9% in the third quarter. UMB Bank n.a. now owns 282 shares of the semiconductor company’s stock valued at $37,000 after purchasing an additional 86 shares during the last quarter. Mather Group LLC. acquired a new position in Silicon Laboratories in the third quarter valued at about $39,000. Hantz Financial Services Inc. boosted its holdings in Silicon Laboratories by 189.6% during the third quarter. Hantz Financial Services Inc. now owns 362 shares of the semiconductor company’s stock worth $47,000 after buying an additional 237 shares during the last quarter. Finally, Jones Financial Companies Lllp grew its position in shares of Silicon Laboratories by 121.4% during the 1st quarter. Jones Financial Companies Lllp now owns 496 shares of the semiconductor company’s stock worth $56,000 after buying an additional 272 shares during the period.

Silicon Laboratories Trading Down 0.6%

SLAB stock opened at $203.64 on Wednesday. The stock has a 50-day moving average price of $167.45 and a two-hundred day moving average price of $144.83. The stock has a market cap of $6.71 billion, a PE ratio of -102.33 and a beta of 1.46. Silicon Laboratories, Inc. has a 1 year low of $82.82 and a 1 year high of $208.84.

Silicon Laboratories (NASDAQ:SLAB) last issued its quarterly earnings results on Wednesday, February 4th. The semiconductor company reported $0.56 EPS for the quarter, beating analysts’ consensus estimates of $0.54 by $0.02. The company 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%.The company’s quarterly revenue was up 25.3% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.11) earnings per share. On average, analysts forecast that Silicon Laboratories, Inc. will post -0.97 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the stock. Citigroup increased their price target on shares of Silicon Laboratories from $135.00 to $231.00 and gave the company a “neutral” rating in a research report on Friday, February 6th. KeyCorp lowered shares of Silicon Laboratories from an “overweight” rating to a “hold” rating in a report on Wednesday, February 4th. Benchmark lowered shares of Silicon Laboratories from a “buy” rating to a “hold” rating in a report on Wednesday, February 4th. Royal Bank Of Canada raised their price objective on Silicon Laboratories from $160.00 to $205.00 and gave the stock a “sector perform” rating in a research note on Thursday, February 5th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Silicon Laboratories in a report on Monday, December 29th. One investment analyst has rated the stock with a Buy rating, eight have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, Silicon Laboratories presently has a consensus rating of “Hold” and an average target price of $167.78.

Insider Activity at Silicon Laboratories

In other news, SVP Brandon Tolany sold 4,246 shares of Silicon Laboratories stock in a transaction that occurred on Thursday, December 4th. The shares were sold at an average price of $140.17, for a total value of $595,161.82. Following the sale, the senior vice president directly owned 62,381 shares in the company, valued at $8,743,944.77. This trade represents a 6.37% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Nina Richardson sold 1,355 shares of the business’s stock in a transaction on Tuesday, January 13th. The stock was sold at an average price of $149.00, for a total transaction of $201,895.00. Following the completion of the sale, the director directly owned 8,543 shares in the company, valued at approximately $1,272,907. This represents a 13.69% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 7,555 shares of company stock valued at $1,073,528 over the last ninety days. Company insiders own 1.60% of the company’s stock.

About Silicon Laboratories

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.