Pier 88 Investment Partners LLC Purchases 1,050 Shares of Silicon Laboratories Inc. (NASDAQ:SLAB)

Pier 88 Investment Partners LLC grew its position in Silicon Laboratories Inc. (NASDAQ:SLAB) by 21.8% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 5,872 shares of the semiconductor company’s stock after acquiring an additional 1,050 shares during the quarter. Pier 88 Investment Partners LLC’s holdings in Silicon Laboratories were worth $679,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the company. Cullen Frost Bankers Inc. bought a new position in Silicon Laboratories during the second quarter worth about $28,000. GAMMA Investing LLC raised its holdings in shares of Silicon Laboratories by 84.1% in the 3rd quarter. GAMMA Investing LLC now owns 497 shares of the semiconductor company’s stock worth $57,000 after buying an additional 227 shares in the last quarter. Daiwa Securities Group Inc. bought a new position in shares of Silicon Laboratories during the 2nd quarter worth approximately $60,000. Migdal Insurance & Financial Holdings Ltd. acquired a new stake in Silicon Laboratories in the 2nd quarter valued at $82,000. Finally, International Assets Investment Management LLC boosted its stake in Silicon Laboratories by 11,457.1% in the 3rd quarter. International Assets Investment Management LLC now owns 809 shares of the semiconductor company’s stock valued at $93,000 after buying an additional 802 shares in the last quarter.

Silicon Laboratories Stock Performance

Shares of SLAB opened at $105.87 on Thursday. The business’s fifty day moving average price is $111.85 and its two-hundred day moving average price is $115.10. The firm has a market capitalization of $3.44 billion, a price-to-earnings ratio of -14.31 and a beta of 1.20. Silicon Laboratories Inc. has a 52 week low of $94.00 and a 52 week high of $154.91.

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

Insider Buying and Selling

In other Silicon Laboratories news, SVP Brandon Tolany sold 845 shares of Silicon Laboratories 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 completion of the sale, the senior vice president now owns 43,615 shares of the company’s stock, valued at approximately $5,015,725. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 1.72% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of research analysts have issued reports on SLAB shares. Stifel Nicolaus cut their price objective on Silicon Laboratories from $160.00 to $135.00 and set a “buy” rating for the company in a report on Tuesday, November 5th. KeyCorp cut their price target on shares of Silicon Laboratories from $150.00 to $115.00 and set an “overweight” rating for the company in a report on Tuesday, November 5th. StockNews.com raised shares of Silicon Laboratories to a “sell” rating in a research note on Friday, November 8th. JPMorgan Chase & Co. dropped their price objective on shares of Silicon Laboratories from $150.00 to $135.00 and set an “overweight” rating for the company in a report on Tuesday, November 5th. Finally, Benchmark restated a “hold” rating on shares of Silicon Laboratories in a research report on Tuesday, November 5th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and five have given a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $121.50.

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.