Silicon Laboratories, Inc. $SLAB Stake Raised by New York Life Investment Management LLC

New York Life Investment Management LLC increased its holdings in Silicon Laboratories, Inc. (NASDAQ:SLAB) by 27.8% in the third quarter, Holdings Channel.com reports. The firm owned 25,529 shares of the semiconductor company’s stock after purchasing an additional 5,550 shares during the period. New York Life Investment Management LLC’s holdings in Silicon Laboratories were worth $5,657,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in SLAB. Ethic Inc. lifted its position in Silicon Laboratories by 22.9% during the third quarter. Ethic Inc. now owns 3,184 shares of the semiconductor company’s stock worth $706,000 after buying an additional 594 shares during the period. Pictet Asset Management Holding SA boosted its stake in Silicon Laboratories by 4.4% in the 3rd quarter. Pictet Asset Management Holding SA now owns 5,481 shares of the semiconductor company’s stock worth $1,214,000 after buying an additional 230 shares during the last quarter. Parallel Advisors LLC grew its holdings in Silicon Laboratories by 54.4% in the 3rd quarter. Parallel Advisors LLC now owns 2,132 shares of the semiconductor company’s stock valued at $472,000 after buying an additional 751 shares during the period. Alps Advisors Inc. grew its holdings in Silicon Laboratories by 3.0% in the 3rd quarter. Alps Advisors Inc. now owns 3,251 shares of the semiconductor company’s stock valued at $720,000 after buying an additional 96 shares during the period. Finally, Covestor Ltd grew its holdings in Silicon Laboratories by 206.5% in the 3rd quarter. Covestor Ltd now owns 190 shares of the semiconductor company’s stock valued at $42,000 after buying an additional 128 shares during the period.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on SLAB. Wall Street Zen raised shares of Silicon Laboratories to a “hold” rating in a research note on Saturday, October 10th. Weiss Ratings reissued a “sell (d-)” rating on shares of Silicon Laboratories in a research report on Monday, September 21st. Finally, Zacks Research raised shares of Silicon Laboratories from a “strong sell” rating to a “hold” rating in a research report on Monday, October 12th. Six analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, Silicon Laboratories presently has a consensus rating of “Reduce” and an average target price of $218.00.

Silicon Laboratories Stock Up 0.2%

SLAB stock opened at $222.12 on Friday. The company has a market cap of $7.41 billion, a price-to-earnings ratio of -358.26 and a beta of 1.20. The business has a fifty day simple moving average of $221.30 and a 200-day simple moving average of $213.55. Silicon Laboratories, Inc. has a 52 week low of $115.50 and a 52 week high of $223.50.

Silicon Laboratories (NASDAQ:SLAB) last issued its earnings results on Tuesday, November 10th. The semiconductor company reported $1.05 earnings per share for the quarter, topping the consensus estimate of $0.85 by $0.20. Silicon Laboratories had a positive return on equity of 1.51% and a negative net margin of 2.26%. The business had revenue of $250.89 million for the quarter, compared to analyst estimates of $242.00 million. During the same period last year, the company posted $0.32 EPS. The business’s quarterly revenue was up 21.8% on a year-over-year basis. As a group, analysts expect that Silicon Laboratories, Inc. will post 0.52 earnings per share for the current fiscal year.

About Silicon Laboratories

Silicon Laboratories (NASDAQ: SLAB), also known as Silicon Labs, is a fabless semiconductor company headquartered in Austin, Texas. Founded in 1996, the company focuses on wireless connectivity and embedded technologies for the Internet of Things (IoT). Its products include wireless system-on-chips, microcontrollers, modules, software and development tools. These solutions support technologies such as Bluetooth, Wi-Fi, Zigbee, Thread and Matter, helping devices communicate and operate in applications across smart homes, commercial buildings and industrial settings.