Quest Partners LLC Purchases Shares of 3,688 Silicon Laboratories Inc. (NASDAQ:SLAB)

Quest Partners LLC acquired a new position in Silicon Laboratories Inc. (NASDAQ:SLAB) in the 3rd quarter, HoldingsChannel.com reports. The institutional investor acquired 3,688 shares of the semiconductor company’s stock, valued at approximately $426,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Harbor Capital Advisors Inc. grew its holdings in Silicon Laboratories by 8.5% in the second quarter. Harbor Capital Advisors Inc. now owns 1,292 shares of the semiconductor company’s stock worth $143,000 after purchasing an additional 101 shares during the period. Victory Capital Management Inc. grew its stake in shares of Silicon Laboratories by 2.3% in the 2nd quarter. Victory Capital Management Inc. now owns 6,638 shares of the semiconductor company’s stock valued at $734,000 after buying an additional 150 shares during the period. Arizona State Retirement System increased its position in Silicon Laboratories by 2.3% in the 2nd quarter. Arizona State Retirement System now owns 8,936 shares of the semiconductor company’s stock valued at $989,000 after buying an additional 202 shares in the last quarter. GAMMA Investing LLC raised its stake in Silicon Laboratories by 84.1% during the 3rd quarter. GAMMA Investing LLC now owns 497 shares of the semiconductor company’s stock worth $57,000 after buying an additional 227 shares during the period. Finally, US Bancorp DE boosted its holdings in Silicon Laboratories by 14.0% in the third quarter. US Bancorp DE now owns 1,892 shares of the semiconductor company’s stock worth $219,000 after acquiring an additional 232 shares in the last quarter.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on SLAB shares. Stifel Nicolaus decreased their price objective on Silicon Laboratories from $160.00 to $135.00 and set a “buy” rating for the company in a report on Tuesday, November 5th. StockNews.com upgraded shares of Silicon Laboratories to a “sell” rating in a research note on Friday, November 8th. KeyCorp dropped their price objective on shares of Silicon Laboratories from $150.00 to $115.00 and set an “overweight” rating on the stock in a research note on Tuesday, November 5th. Benchmark reissued a “hold” rating on shares of Silicon Laboratories in a research report on Tuesday, November 5th. Finally, Morgan Stanley dropped their price target on shares of Silicon Laboratories from $123.00 to $97.00 and set an “equal weight” rating on the stock in a research report on Tuesday, November 5th. One analyst has rated the stock with a sell rating, five have given a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $121.50.

Silicon Laboratories Stock Performance

Shares of SLAB stock opened at $106.27 on Monday. Silicon Laboratories Inc. has a 52-week low of $94.00 and a 52-week high of $154.91. The company has a 50-day simple moving average of $111.13 and a two-hundred day simple moving average of $114.02. The company has a market capitalization of $3.45 billion, a price-to-earnings ratio of -14.36 and a beta of 1.20.

Silicon Laboratories (NASDAQ:SLAB) last released its earnings results on Monday, November 4th. The semiconductor company reported ($0.13) EPS for the quarter, topping analysts’ consensus estimates of ($0.20) by $0.07. The company had revenue of $166.00 million for the quarter, compared to analysts’ expectations of $165.50 million. Silicon Laboratories had a negative return on equity of 12.60% and a negative net margin of 46.93%. The business’s revenue for the quarter was down 18.5% compared to the same quarter last year. During the same period in the previous year, the business posted $0.48 EPS. On average, sell-side analysts forecast that Silicon Laboratories Inc. will post -3.56 EPS for the current fiscal year.

Insider Buying and Selling at Silicon Laboratories

In related news, SVP Brandon Tolany sold 845 shares of Silicon Laboratories stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $115.00, for a total value of $97,175.00. Following the sale, the senior vice president now owns 43,615 shares of the company’s stock, valued at approximately $5,015,725. The trade was a 1.90 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 1.72% of the company’s stock.

Silicon Laboratories 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.