Franklin Resources Inc. Boosts Stake in Silicon Laboratories Inc. (NASDAQ:SLAB)

Franklin Resources Inc. increased its holdings in shares of Silicon Laboratories Inc. (NASDAQ:SLABFree Report) by 1.9% during the third quarter, HoldingsChannel reports. The fund owned 231,889 shares of the semiconductor company’s stock after buying an additional 4,278 shares during the period. Franklin Resources Inc.’s holdings in Silicon Laboratories were worth $27,001,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Cullen Frost Bankers Inc. acquired a new position in shares of Silicon Laboratories during the 2nd quarter worth $28,000. Advisors Asset Management Inc. grew its position in Silicon Laboratories by 159.4% during the third quarter. Advisors Asset Management Inc. now owns 275 shares of the semiconductor company’s stock worth $32,000 after buying an additional 169 shares during the period. GAMMA Investing LLC increased its holdings 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 buying an additional 227 shares in the last quarter. Daiwa Securities Group Inc. acquired a new stake in shares of Silicon Laboratories during the 2nd quarter valued at approximately $60,000. Finally, Migdal Insurance & Financial Holdings Ltd. acquired a new stake in shares of Silicon Laboratories during the 2nd quarter valued at approximately $82,000.

Silicon Laboratories Stock Down 4.8 %

SLAB stock opened at $122.82 on Thursday. The stock has a market capitalization of $3.99 billion, a price-to-earnings ratio of -16.60 and a beta of 1.21. Silicon Laboratories Inc. has a 52-week low of $94.00 and a 52-week high of $154.91. The stock’s fifty day simple moving average is $112.80 and its 200-day simple moving average is $112.95.

Silicon Laboratories (NASDAQ:SLABGet Free Report) last issued its quarterly earnings results on Monday, November 4th. The semiconductor company reported ($0.13) earnings per share (EPS) for the quarter, topping 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 last year, the company earned $0.48 EPS. The firm’s quarterly revenue was down 18.5% on a year-over-year basis. As a group, analysts anticipate that Silicon Laboratories Inc. will post -3.56 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities analysts recently weighed in on SLAB shares. Benchmark reaffirmed a “hold” rating on shares of Silicon Laboratories in a research note on Tuesday, November 5th. Morgan Stanley dropped their price target 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. Susquehanna started coverage on shares of Silicon Laboratories in a research report on Tuesday. They issued a “neutral” rating and a $130.00 price objective on the stock. Barclays dropped their target price on shares of Silicon Laboratories from $120.00 to $75.00 and set an “equal weight” rating for the company in a report on Tuesday, November 5th. Finally, JPMorgan Chase & Co. reduced their price target on shares of Silicon Laboratories from $150.00 to $135.00 and set an “overweight” rating on the stock in a report on Tuesday, November 5th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $122.44.

View Our Latest Stock Analysis on SLAB

Silicon Laboratories Company Profile

(Free Report)

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.

See Also

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Institutional Ownership by Quarter for Silicon Laboratories (NASDAQ:SLAB)

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