Victory Capital Management Inc. Has $704,000 Stock Holdings in Silicon Laboratories Inc. (NASDAQ:SLAB)

Victory Capital Management Inc. trimmed its stake in shares of Silicon Laboratories Inc. (NASDAQ:SLAB) by 8.3% in the third quarter, HoldingsChannel reports. The firm owned 6,089 shares of the semiconductor company’s stock after selling 549 shares during the quarter. Victory Capital Management Inc.’s holdings in Silicon Laboratories were worth $704,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of SLAB. Cullen Frost Bankers Inc. acquired a new stake in shares of Silicon Laboratories during the 2nd quarter worth about $28,000. GAMMA Investing LLC lifted its position in Silicon Laboratories by 84.1% during the third quarter. GAMMA Investing LLC now owns 497 shares of the semiconductor company’s stock worth $57,000 after acquiring an additional 227 shares during the last quarter. Daiwa Securities Group Inc. acquired a new stake in Silicon Laboratories during the second quarter worth approximately $60,000. Lazard Asset Management LLC bought a new stake in shares of Silicon Laboratories during the first quarter worth approximately $103,000. Finally, Migdal Insurance & Financial Holdings Ltd. acquired a new position in shares of Silicon Laboratories in the second quarter valued at approximately $82,000.

Insider Transactions at Silicon Laboratories

In other Silicon Laboratories news, SVP Brandon Tolany sold 845 shares of Silicon Laboratories stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $115.00, for a total value of $97,175.00. Following the transaction, the senior vice president now owns 43,615 shares in the company, valued at $5,015,725. The trade was a 1.90 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 1.72% of the stock is owned by insiders.

Silicon Laboratories Trading Up 1.1 %

Shares of NASDAQ:SLAB opened at $108.78 on Friday. The firm has a 50 day moving average of $111.05 and a 200-day moving average of $113.75. Silicon Laboratories Inc. has a 12 month low of $94.00 and a 12 month high of $154.91. The stock has a market capitalization of $3.53 billion, a PE ratio of -14.70 and a beta of 1.20.

Silicon Laboratories (NASDAQ:SLAB) last announced its quarterly earnings data on Monday, November 4th. The semiconductor company reported ($0.13) EPS for the quarter, beating the consensus estimate of ($0.20) by $0.07. Silicon Laboratories had a negative net margin of 46.93% and a negative return on equity of 12.60%. The business had revenue of $166.00 million during the quarter, compared to the consensus estimate of $165.50 million. During the same period in the previous year, the business earned $0.48 earnings per share. The company’s revenue was down 18.5% on a year-over-year basis. On average, research analysts predict that Silicon Laboratories Inc. will post -3.56 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research firms recently weighed in on SLAB. Stifel Nicolaus dropped their price target on Silicon Laboratories from $160.00 to $135.00 and set a “buy” rating for the company in a report on Tuesday, November 5th. Barclays dropped their target price on Silicon Laboratories from $120.00 to $75.00 and set an “equal weight” rating for the company in a report on Tuesday, November 5th. Morgan Stanley decreased 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 note on Tuesday, November 5th. KeyCorp dropped their price objective on shares of Silicon Laboratories from $150.00 to $115.00 and set an “overweight” rating for the company in a research note on Tuesday, November 5th. Finally, JPMorgan Chase & Co. decreased their target price on shares of Silicon Laboratories from $150.00 to $135.00 and set an “overweight” rating on the stock in a research report on Tuesday, November 5th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, Silicon Laboratories has a consensus rating of “Hold” and an average price target of $121.50.

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.