Ontario Teachers Pension Plan Board Trims Stock Position in Silicon Laboratories Inc. (NASDAQ:SLAB)

Ontario Teachers Pension Plan Board trimmed its holdings in shares of Silicon Laboratories Inc. (NASDAQ:SLAB) by 13.1% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,338 shares of the semiconductor company’s stock after selling 351 shares during the period. Ontario Teachers Pension Plan Board’s holdings in Silicon Laboratories were worth $309,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. Norges Bank purchased a new position in Silicon Laboratories during the fourth quarter worth $28,907,000. Adage Capital Partners GP L.L.C. purchased a new stake in Silicon Laboratories during the 3rd quarter worth about $24,453,000. Van Berkom & Associates Inc. raised its stake in Silicon Laboratories by 36.2% in the 3rd quarter. Van Berkom & Associates Inc. now owns 572,762 shares of the semiconductor company’s stock valued at $66,377,000 after purchasing an additional 152,269 shares during the last quarter. Schwartz Investment Counsel Inc. lifted its holdings in Silicon Laboratories by 69.6% in the 4th quarter. Schwartz Investment Counsel Inc. now owns 195,000 shares of the semiconductor company’s stock valued at $25,793,000 after purchasing an additional 80,000 shares in the last quarter. Finally, Federated Hermes Inc. boosted its stake in shares of Silicon Laboratories by 17.6% during the 3rd quarter. Federated Hermes Inc. now owns 483,127 shares of the semiconductor company’s stock worth $55,990,000 after purchasing an additional 72,168 shares during the last quarter.

Silicon Laboratories Stock Up 2.9 %

Silicon Laboratories stock opened at $127.80 on Monday. The firm has a market capitalization of $4.08 billion, a P/E ratio of -38.61 and a beta of 1.25. The firm has a fifty day moving average of $128.29 and a 200-day moving average of $126.17. Silicon Laboratories Inc. has a 52-week low of $74.56 and a 52-week high of $166.94.

Silicon Laboratories (NASDAQ:SLAB) last issued its quarterly earnings data on Wednesday, April 24th. The semiconductor company reported ($1.34) EPS for the quarter, missing analysts’ consensus estimates 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 company had revenue of $106.38 million for the quarter, compared to analyst estimates of $104.45 million. On average, research analysts expect that Silicon Laboratories Inc. will post -3.1 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on SLAB shares. Citigroup reduced their price objective on shares of Silicon Laboratories from $137.00 to $120.00 and set a “neutral” rating on the stock in a research note on Thursday, April 25th. Benchmark reiterated a “hold” rating on shares of Silicon Laboratories in a research note on Thursday, April 25th. Needham & Company LLC raised Silicon Laboratories from a “hold” rating to a “buy” rating and set a $150.00 price target on the stock in a research note on Thursday, April 25th. StockNews.com raised shares of Silicon Laboratories to a “sell” rating in a research note on Wednesday, May 22nd. Finally, JPMorgan Chase & Co. decreased their target price on shares of Silicon Laboratories from $165.00 to $150.00 and set an “overweight” rating on the stock in a research report on Thursday, April 25th. 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 company. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $135.00.

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.