Paloma Partners Management Co Buys Shares of 13,500 Silicon Laboratories Inc. (NASDAQ:SLAB)

Paloma Partners Management Co bought a new stake in Silicon Laboratories Inc. (NASDAQ:SLAB) in the 3rd quarter, according to its most recent disclosure with the SEC. The fund bought 13,500 shares of the semiconductor company’s stock, valued at approximately $1,560,000.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Cullen Frost Bankers Inc. acquired a new stake in Silicon Laboratories in the 2nd quarter valued at about $28,000. Advisors Asset Management Inc. lifted its position in Silicon Laboratories by 159.4% in the third quarter. Advisors Asset Management Inc. now owns 275 shares of the semiconductor company’s stock valued at $32,000 after acquiring an additional 169 shares during the last quarter. GAMMA Investing LLC boosted its stake in Silicon Laboratories by 84.1% in the third quarter. GAMMA Investing LLC now owns 497 shares of the semiconductor company’s stock valued at $57,000 after acquiring an additional 227 shares in the last quarter. Daiwa Securities Group Inc. purchased a new position in shares of Silicon Laboratories during the second quarter worth about $60,000. Finally, Migdal Insurance & Financial Holdings Ltd. acquired a new stake in shares of Silicon Laboratories during the second quarter worth about $82,000.

Wall Street Analyst Weigh In

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

Silicon Laboratories Price Performance

Shares of SLAB stock opened at $115.40 on Tuesday. The stock has a 50 day simple moving average of $110.92 and a 200-day simple moving average of $113.35. Silicon Laboratories Inc. has a 12-month low of $94.00 and a 12-month high of $154.91.

Silicon Laboratories (NASDAQ:SLAB) last released its quarterly earnings data on Monday, November 4th. The semiconductor company reported ($0.13) earnings per share (EPS) for the quarter, topping 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 firm had revenue of $166.00 million during the quarter, compared to analysts’ expectations of $165.50 million. During the same quarter in the prior year, the business posted $0.48 earnings per share. Silicon Laboratories’s revenue was down 18.5% compared to the same quarter last year. Sell-side analysts expect that Silicon Laboratories Inc. will post -3.56 earnings per share for the current year.

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.