Orion Portfolio Solutions LLC Sells 720 Shares of Silicon Laboratories Inc. (NASDAQ:SLAB)

Orion Portfolio Solutions LLC cut its stake in Silicon Laboratories Inc. (NASDAQ:SLAB) by 8.2% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 8,012 shares of the semiconductor company’s stock after selling 720 shares during the period. Orion Portfolio Solutions LLC’s holdings in Silicon Laboratories were worth $926,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently modified their holdings of SLAB. Point72 Asset Management L.P. acquired a new position in shares of Silicon Laboratories during the 3rd quarter worth about $7,408,000. SG Americas Securities LLC boosted its position in Silicon Laboratories by 284.6% during the second quarter. SG Americas Securities LLC now owns 7,076 shares of the semiconductor company’s stock valued at $783,000 after purchasing an additional 5,236 shares during the last quarter. Intech Investment Management LLC boosted its position in Silicon Laboratories by 82.9% during the third quarter. Intech Investment Management LLC now owns 12,837 shares of the semiconductor company’s stock valued at $1,484,000 after purchasing an additional 5,818 shares during the last quarter. Clearbridge Investments LLC boosted its holdings in shares of Silicon Laboratories by 84.0% in the 2nd quarter. Clearbridge Investments LLC now owns 273,776 shares of the semiconductor company’s stock valued at $30,288,000 after buying an additional 125,022 shares during the last quarter. Finally, Premier Fund Managers Ltd bought a new position in shares of Silicon Laboratories in the third quarter valued at $934,000.

Silicon Laboratories Stock Down 0.3 %

Shares of NASDAQ:SLAB opened at $128.20 on Monday. The stock has a market cap of $4.16 billion, a PE ratio of -17.32 and a beta of 1.21. Silicon Laboratories Inc. has a 12-month low of $94.00 and a 12-month high of $154.91. The business has a 50 day moving average of $111.96 and a 200-day moving average of $112.80.

Silicon Laboratories (NASDAQ:SLAB) last issued its quarterly earnings data on Monday, November 4th. The semiconductor company reported ($0.13) EPS for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $165.50 million. During the same period in the prior year, the firm posted $0.48 EPS. The company’s revenue for the quarter was down 18.5% on a year-over-year basis. Equities research analysts expect that Silicon Laboratories Inc. will post -3.56 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several analysts have issued reports on SLAB shares. StockNews.com raised shares of Silicon Laboratories to a “sell” rating in a research report on Friday, November 8th. Benchmark reaffirmed a “hold” rating on shares of Silicon Laboratories in a report on Tuesday, November 5th. Stifel Nicolaus reduced their price target 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 dropped their price objective on 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 cut their price objective on 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 investment 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 data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $121.50.

Silicon Laboratories Company 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.