Wrapmanager Inc. Sells 272 Shares of Silicon Laboratories Inc. (NASDAQ:SLAB)

Wrapmanager Inc. cut its position in Silicon Laboratories Inc. (NASDAQ:SLAB) by 10.7% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,267 shares of the semiconductor company’s stock after selling 272 shares during the quarter. Wrapmanager Inc.’s holdings in Silicon Laboratories were worth $262,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in SLAB. Cullen Frost Bankers Inc. bought a new stake in Silicon Laboratories in the 2nd quarter valued at about $28,000. GAMMA Investing LLC increased its stake in shares of Silicon Laboratories by 84.1% in the third quarter. GAMMA Investing LLC now owns 497 shares of the semiconductor company’s stock worth $57,000 after purchasing an additional 227 shares in the last quarter. Daiwa Securities Group Inc. bought a new stake in shares of Silicon Laboratories in the second quarter valued at approximately $60,000. Lazard Asset Management LLC purchased a new stake in shares of Silicon Laboratories during the 1st quarter valued at approximately $103,000. Finally, Migdal Insurance & Financial Holdings Ltd. purchased a new position in Silicon Laboratories in the 2nd quarter valued at approximately $82,000.

Silicon Laboratories Price Performance

Shares of SLAB stock opened at $98.40 on Wednesday. The business has a 50-day moving average of $111.42 and a 200 day moving average of $114.48. The stock has a market capitalization of $3.19 billion, a PE ratio of -13.30 and a beta of 1.20. Silicon Laboratories Inc. has a 1-year low of $94.00 and a 1-year high of $154.91.

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

Analyst Ratings Changes

A number of analysts recently issued reports on the company. Needham & Company LLC reiterated a “buy” rating and set a $150.00 price objective on shares of Silicon Laboratories in a research note on Thursday, July 25th. StockNews.com raised shares of Silicon Laboratories to a “sell” rating in a report on Friday, November 8th. Stifel Nicolaus decreased their target price on shares of Silicon Laboratories from $160.00 to $135.00 and set a “buy” rating on the stock in a report on Tuesday, November 5th. KeyCorp lowered their target price 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. Finally, Morgan Stanley reduced their price target on shares of Silicon Laboratories from $123.00 to $97.00 and set an “equal weight” rating for the company in a research report on Tuesday, November 5th. One research 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’s stock. According to MarketBeat.com, Silicon Laboratories has a consensus rating of “Hold” and a consensus target price of $121.50.

Insider Activity at Silicon Laboratories

In other Silicon Laboratories news, SVP Brandon Tolany sold 845 shares of the business’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $115.00, for a total transaction of $97,175.00. Following the transaction, the senior vice president now directly 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.72% of the stock is owned by corporate insiders.

About Silicon Laboratories

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.