OLD National Bancorp IN Buys New Shares in Silicon Laboratories Inc. (NASDAQ:SLAB)

OLD National Bancorp IN bought a new stake in shares of Silicon Laboratories Inc. (NASDAQ:SLAB) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 1,911 shares of the semiconductor company’s stock, valued at approximately $253,000.

Several other institutional investors and hedge funds have also added to or reduced their stakes in SLAB. Venturi Wealth Management LLC acquired a new stake in Silicon Laboratories during the third quarter valued at approximately $30,000. CWM LLC lifted its position in shares of Silicon Laboratories by 78.1% in the 4th quarter. CWM LLC now owns 374 shares of the semiconductor company’s stock valued at $49,000 after acquiring an additional 164 shares in the last quarter. Global Retirement Partners LLC lifted its position in shares of Silicon Laboratories by 31.7% in the 3rd quarter. Global Retirement Partners LLC now owns 507 shares of the semiconductor company’s stock valued at $58,000 after acquiring an additional 122 shares in the last quarter. Itau Unibanco Holding S.A. purchased a new stake in shares of Silicon Laboratories in the 3rd quarter valued at approximately $61,000. Finally, Migdal Insurance & Financial Holdings Ltd. lifted its position in shares of Silicon Laboratories by 20.0% in the 3rd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 733 shares of the semiconductor company’s stock valued at $85,000 after acquiring an additional 122 shares in the last quarter.

Silicon Laboratories Stock Performance

Shares of SLAB opened at $118.93 on Friday. The company’s fifty day moving average is $134.38 and its 200-day moving average is $122.12. Silicon Laboratories Inc. has a 12 month low of $74.56 and a 12 month high of $166.94.

Silicon Laboratories (NASDAQ:SLAB) last announced its quarterly earnings results on Wednesday, April 24th. The semiconductor company reported ($1.34) EPS for the quarter, missing the consensus estimate of ($1.29) by ($0.05). Silicon Laboratories had a negative return on equity of 4.45% and a negative net margin of 16.36%. The business had revenue of $106.38 million for the quarter, compared to analyst estimates of $104.45 million. Analysts expect that Silicon Laboratories Inc. will post -1.66 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the stock. Citigroup reduced their price target on shares of Silicon Laboratories from $137.00 to $120.00 and set a “neutral” rating for the company in a research report on Thursday. Summit Insights downgraded shares of Silicon Laboratories from a “buy” rating to a “hold” rating in a research report on Wednesday. Benchmark restated a “hold” rating on shares of Silicon Laboratories in a research report on Thursday. TD Cowen dropped their price objective on shares of Silicon Laboratories from $155.00 to $145.00 and set a “buy” rating on the stock in a research note on Thursday. Finally, JPMorgan Chase & Co. dropped their price objective on shares of Silicon Laboratories from $165.00 to $150.00 and set an “overweight” rating on the stock in a research note on Thursday. One research 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 MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $135.00.

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.