Silicon Laboratories, Inc. $SLAB Stock Holdings Decreased by Granite Investment Partners LLC

Granite Investment Partners LLC lowered its position in shares of Silicon Laboratories, Inc. (NASDAQ:SLAB) by 15.5% during the third quarter, Holdings Channel reports. The fund owned 22,252 shares of the semiconductor company’s stock after selling 4,096 shares during the quarter. Granite Investment Partners LLC’s holdings in Silicon Laboratories were worth $2,918,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. First Horizon Corp acquired a new stake in Silicon Laboratories during the 3rd quarter valued at $35,000. UMB Bank n.a. grew its holdings in shares of Silicon Laboratories by 43.9% during the third quarter. UMB Bank n.a. now owns 282 shares of the semiconductor company’s stock valued at $37,000 after buying an additional 86 shares in the last quarter. Mather Group LLC. acquired a new position in Silicon Laboratories during the third quarter valued at $39,000. Hantz Financial Services Inc. raised its position in Silicon Laboratories by 189.6% during the third quarter. Hantz Financial Services Inc. now owns 362 shares of the semiconductor company’s stock valued at $47,000 after buying an additional 237 shares during the period. Finally, Jones Financial Companies Lllp lifted its stake in Silicon Laboratories by 121.4% in the 1st quarter. Jones Financial Companies Lllp now owns 496 shares of the semiconductor company’s stock worth $56,000 after acquiring an additional 272 shares in the last quarter.

Analyst Upgrades and Downgrades

Several research firms have weighed in on SLAB. Benchmark cut Silicon Laboratories from a “buy” rating to a “hold” rating in a research note on Wednesday, February 4th. KeyCorp lowered shares of Silicon Laboratories from an “overweight” rating to a “hold” rating in a research report on Wednesday, February 4th. Citigroup boosted their price objective 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. Weiss Ratings reiterated a “sell (d-)” rating on shares of Silicon Laboratories in a research note on Monday, December 29th. Finally, Needham & Company LLC downgraded shares of Silicon Laboratories from a “buy” rating to a “hold” rating in a research report on Wednesday, February 4th. One analyst has rated the stock with a Buy rating, eight have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $167.78.

Silicon Laboratories Stock Performance

Shares of SLAB opened at $204.20 on Tuesday. The firm has a market cap of $6.73 billion, a PE ratio of -102.61 and a beta of 1.56. The firm’s 50 day moving average price is $159.08 and its 200 day moving average price is $141.69. Silicon Laboratories, Inc. has a twelve month low of $82.82 and a twelve month high of $208.84.

Silicon Laboratories (NASDAQ:SLAB) last posted its earnings results on Wednesday, February 4th. The semiconductor company reported $0.56 EPS for the quarter, topping the consensus estimate of $0.54 by $0.02. The company had revenue of $208.21 million during the quarter, compared to the consensus estimate of $207.63 million. Silicon Laboratories had a negative net margin of 8.27% and a negative return on equity of 4.07%. The company’s revenue for the quarter was up 25.3% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.11) earnings per share. On average, sell-side analysts anticipate that Silicon Laboratories, Inc. will post -0.97 earnings per share for the current fiscal year.

Insider Buying and Selling at Silicon Laboratories

In other news, SVP Brandon Tolany sold 4,246 shares of the company’s stock in a transaction dated Thursday, December 4th. The stock was sold at an average price of $140.17, for a total transaction of $595,161.82. Following the completion of the sale, the senior vice president owned 62,381 shares in the company, valued at approximately $8,743,944.77. This represents a 6.37% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Nina Richardson sold 1,355 shares of the stock in a transaction dated Tuesday, January 13th. The shares were sold at an average price of $149.00, for a total value of $201,895.00. Following the transaction, 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. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 7,555 shares of company stock worth $1,073,528 over the last three months. 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.