Zions Bancorporation N.A. Buys 1,889 Shares of Silicon Laboratories Inc. (NASDAQ:SLAB)

Zions Bancorporation N.A. lifted its holdings in shares of Silicon Laboratories Inc. (NASDAQ:SLAB) by 18.8% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 11,962 shares of the semiconductor company’s stock after acquiring an additional 1,889 shares during the period. Zions Bancorporation N.A.’s holdings in Silicon Laboratories were worth $1,382,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Harbor Capital Advisors Inc. boosted its holdings in Silicon Laboratories by 8.5% during the second quarter. Harbor Capital Advisors Inc. now owns 1,292 shares of the semiconductor company’s stock worth $143,000 after purchasing an additional 101 shares during the last quarter. Orion Portfolio Solutions LLC boosted its stake in Silicon Laboratories by 1.1% in the first quarter. Orion Portfolio Solutions LLC now owns 9,858 shares of the semiconductor company’s stock valued at $1,417,000 after acquiring an additional 103 shares during the last quarter. Victory Capital Management Inc. boosted its stake in Silicon Laboratories by 2.3% in the second quarter. Victory Capital Management Inc. now owns 6,638 shares of the semiconductor company’s stock valued at $734,000 after acquiring an additional 150 shares during the last quarter. Arizona State Retirement System lifted its stake in shares of Silicon Laboratories by 2.3% during the 2nd quarter. Arizona State Retirement System now owns 8,936 shares of the semiconductor company’s stock valued at $989,000 after buying an additional 202 shares in the last quarter. Finally, GAMMA Investing LLC lifted its stake in shares of Silicon Laboratories by 84.1% during the 3rd 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.

Silicon Laboratories Price Performance

SLAB opened at $104.86 on Friday. Silicon Laboratories Inc. has a twelve month low of $94.00 and a twelve month high of $154.91. The firm has a 50 day moving average price of $111.77 and a 200-day moving average price of $115.03.

Silicon Laboratories (NASDAQ:SLAB) last posted its quarterly earnings results on Monday, November 4th. The semiconductor company reported ($0.13) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.20) by $0.07. The business had revenue of $166.00 million during the quarter, compared to analyst estimates of $165.50 million. Silicon Laboratories had a negative net margin of 46.93% and a negative return on equity of 12.60%. The company’s revenue was down 18.5% on a year-over-year basis. During the same period in the prior year, the business posted $0.48 earnings per share. Equities research analysts anticipate that Silicon Laboratories Inc. will post -3.56 EPS for the current fiscal year.

Insider Buying and Selling

In related news, SVP Brandon Tolany sold 845 shares of the company’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $115.00, for a total transaction of $97,175.00. Following the completion of the transaction, the senior vice president now owns 43,615 shares in the company, valued at approximately $5,015,725. This represents a 1.90 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.72% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the stock. Barclays decreased their target price on shares of Silicon Laboratories from $120.00 to $75.00 and set an “equal weight” rating on the stock in a report on Tuesday, November 5th. KeyCorp cut their target price on shares of Silicon Laboratories from $150.00 to $115.00 and set an “overweight” rating on the stock in a research note on Tuesday, November 5th. Morgan Stanley cut their target price 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 reissued a “hold” rating on shares of Silicon Laboratories in a research note on Tuesday, November 5th. Finally, Stifel Nicolaus decreased their target price on shares of Silicon Laboratories from $160.00 to $135.00 and set a “buy” rating for the company in a report on Tuesday, November 5th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat, Silicon Laboratories has an average rating of “Hold” and an average target price of $121.50.

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.