Granahan Investment Management LLC Sells 7,594 Shares of Silicon Laboratories, Inc. $SLAB

Granahan Investment Management LLC decreased its position in Silicon Laboratories, Inc. (NASDAQ:SLAB) by 43.8% during the 3rd quarter, Holdings Channel reports. The firm owned 9,756 shares of the semiconductor company’s stock after selling 7,594 shares during the period. Granahan Investment Management LLC’s holdings in Silicon Laboratories were worth $1,279,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in the company. First Horizon Corp bought a new position in shares of Silicon Laboratories during the third quarter valued at about $35,000. EverSource Wealth Advisors LLC grew its position in shares of Silicon Laboratories by 45.7% in the 3rd quarter. EverSource Wealth Advisors LLC now owns 274 shares of the semiconductor company’s stock worth $36,000 after buying an additional 86 shares during the last quarter. UMB Bank n.a. increased its stake 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 during the period. Mather Group LLC. purchased a new position in Silicon Laboratories during the 3rd quarter valued at $39,000. Finally, Hantz Financial Services Inc. increased its position in shares of 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.

Wall Street Analysts Forecast Growth

SLAB has been the subject of several research analyst reports. Citigroup raised their price objective on shares of Silicon Laboratories from $135.00 to $231.00 and gave the stock a “neutral” rating in a report on Friday, February 6th. Benchmark downgraded shares of Silicon Laboratories from a “buy” rating to a “hold” rating in a research report on Wednesday, February 4th. Needham & Company LLC lowered shares of Silicon Laboratories from a “buy” rating to a “hold” rating in a research note on Wednesday, February 4th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Silicon Laboratories in a research report on Monday, December 29th. Finally, KeyCorp cut Silicon Laboratories from an “overweight” rating to a “hold” rating in a research note on Wednesday, February 4th. One analyst has rated the stock with a Buy rating, eight have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $167.78.

Insider Transactions at Silicon Laboratories

In other news, Director Nina Richardson sold 1,355 shares of the firm’s stock in a transaction dated Tuesday, January 13th. The shares were sold at an average price of $149.00, for a total transaction of $201,895.00. Following the sale, the director owned 8,543 shares of the company’s stock, valued at $1,272,907. This trade represents a 13.69% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 1.60% of the company’s stock.

Silicon Laboratories Stock Up 0.8%

Shares of SLAB opened at $204.68 on Tuesday. The company has a market capitalization of $6.75 billion, a P/E ratio of -102.85 and a beta of 1.45. The firm has a 50 day moving average of $179.99 and a 200 day moving average of $148.97. Silicon Laboratories, Inc. has a twelve month low of $82.82 and a twelve month high of $208.84.

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

Silicon Laboratories Profile

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.