Federated Hermes Inc. Raises Stake in Silicon Laboratories Inc. (NASDAQ:SLAB)

Federated Hermes Inc. raised its holdings in shares of Silicon Laboratories Inc. (NASDAQ:SLAB) by 6.9% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 516,484 shares of the semiconductor company’s stock after acquiring an additional 33,357 shares during the period. Federated Hermes Inc.’s holdings in Silicon Laboratories were worth $68,315,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. First Republic Investment Management Inc. raised its position in Silicon Laboratories by 1.1% in the 1st quarter. First Republic Investment Management Inc. now owns 7,703 shares of the semiconductor company’s stock worth $1,349,000 after purchasing an additional 83 shares during the period. Belpointe Asset Management LLC lifted its stake in shares of Silicon Laboratories by 72.5% in the 1st quarter. Belpointe Asset Management LLC now owns 207 shares of the semiconductor company’s stock valued at $36,000 after acquiring an additional 87 shares during the last quarter. L. Roy Papp & Associates LLP grew its position in Silicon Laboratories by 1.2% during the 4th quarter. L. Roy Papp & Associates LLP now owns 9,920 shares of the semiconductor company’s stock worth $1,312,000 after acquiring an additional 120 shares during the last quarter. State of Wyoming increased its stake in Silicon Laboratories by 17.3% in the 2nd quarter. State of Wyoming now owns 821 shares of the semiconductor company’s stock worth $130,000 after purchasing an additional 121 shares during the period. Finally, Migdal Insurance & Financial Holdings Ltd. lifted its position in Silicon Laboratories by 20.0% in the third quarter. Migdal Insurance & Financial Holdings Ltd. now owns 733 shares of the semiconductor company’s stock valued at $85,000 after purchasing an additional 122 shares during the last quarter.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on SLAB shares. TD Cowen upped their price target on shares of Silicon Laboratories from $140.00 to $155.00 and gave the company an “outperform” rating in a report on Thursday, February 8th. JPMorgan Chase & Co. increased their target price on shares of Silicon Laboratories from $145.00 to $165.00 and gave the stock an “overweight” rating in a report on Thursday, February 8th. Stifel Nicolaus raised their target price on Silicon Laboratories from $136.00 to $155.00 and gave the stock a “buy” rating in a research note on Tuesday, January 2nd. Barclays increased their price objective on Silicon Laboratories from $120.00 to $140.00 and gave the stock an “equal weight” rating in a report on Thursday, February 8th. Finally, StockNews.com cut Silicon Laboratories from a “hold” rating to a “sell” rating in a research note on Friday, December 29th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $143.29.

Silicon Laboratories Stock Down 3.3 %

Shares of SLAB stock opened at $117.50 on Friday. Silicon Laboratories Inc. has a twelve month low of $74.56 and a twelve month high of $171.47. The stock has a market cap of $3.75 billion, a price-to-earnings ratio of -103.98 and a beta of 1.27. The business’s fifty day moving average is $136.20 and its 200 day moving average is $121.94.

Silicon Laboratories (NASDAQ:SLAB) last issued its quarterly earnings results on Wednesday, February 7th. The semiconductor company reported ($1.46) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.91) by $0.45. The company had revenue of $86.85 million during the quarter, compared to analyst estimates of $85.32 million. Silicon Laboratories had a negative net margin of 4.41% and a positive return on equity of 0.97%. Equities research analysts expect that Silicon Laboratories Inc. will post -1.66 earnings per share for the current fiscal year.

Silicon Laboratories Company 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.