Avalon Global Asset Management LLC Has $12.47 Million Stock Holdings in Silicon Laboratories Inc. (NASDAQ:SLAB)

Avalon Global Asset Management LLC raised its stake in Silicon Laboratories Inc. (NASDAQ:SLAB) by 10.2% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 107,900 shares of the semiconductor company’s stock after purchasing an additional 10,000 shares during the period. Silicon Laboratories accounts for 1.9% of Avalon Global Asset Management LLC’s holdings, making the stock its 16th biggest holding. Avalon Global Asset Management LLC owned 0.33% of Silicon Laboratories worth $12,470,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently made changes to their positions in the company. Cullen Frost Bankers Inc. bought a new stake in Silicon Laboratories in the 2nd quarter valued at about $28,000. Advisors Asset Management Inc. increased its holdings in shares of Silicon Laboratories by 159.4% during the third quarter. Advisors Asset Management Inc. now owns 275 shares of the semiconductor company’s stock valued at $32,000 after acquiring an additional 169 shares in the last quarter. GAMMA Investing LLC raised its position in shares of Silicon Laboratories by 84.1% during the third quarter. GAMMA Investing LLC now owns 497 shares of the semiconductor company’s stock worth $57,000 after purchasing an additional 227 shares during the period. Daiwa Securities Group Inc. bought a new position in shares of Silicon Laboratories in the 2nd quarter worth $60,000. Finally, Migdal Insurance & Financial Holdings Ltd. acquired a new stake in Silicon Laboratories in the 2nd quarter valued at $82,000.

Silicon Laboratories Trading Up 1.7 %

SLAB stock opened at $110.65 on Monday. Silicon Laboratories Inc. has a 1-year low of $94.00 and a 1-year high of $154.91. The stock has a market cap of $3.59 billion, a P/E ratio of -14.95 and a beta of 1.20. The stock’s fifty day simple moving average is $110.92 and its two-hundred day simple moving average is $113.48.

Silicon Laboratories (NASDAQ:SLAB) last issued 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. Silicon Laboratories had a negative net margin of 46.93% and a negative return on equity of 12.60%. The company had revenue of $166.00 million for the quarter, compared to the consensus estimate of $165.50 million. During the same period in the previous year, the firm earned $0.48 EPS. The firm’s quarterly revenue was down 18.5% on a year-over-year basis. As a group, analysts forecast that Silicon Laboratories Inc. will post -3.56 earnings per share for the current fiscal year.

Insider Activity

In related news, SVP Brandon Tolany sold 845 shares of Silicon Laboratories stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $115.00, for a total value of $97,175.00. Following the sale, the senior vice president now owns 43,615 shares of the company’s stock, valued at approximately $5,015,725. The trade was a 1.90 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 1.72% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have weighed in on SLAB. JPMorgan Chase & Co. dropped their price objective on shares of Silicon Laboratories from $150.00 to $135.00 and set an “overweight” rating on the stock in a research note on Tuesday, November 5th. StockNews.com raised shares of Silicon Laboratories to a “sell” rating in a research report on Friday, November 8th. Stifel Nicolaus cut their price target on Silicon Laboratories from $160.00 to $135.00 and set a “buy” rating for the company in a research note on Tuesday, November 5th. Benchmark restated a “hold” rating on shares of Silicon Laboratories in a report on Tuesday, November 5th. Finally, Barclays cut their target price on Silicon Laboratories from $120.00 to $75.00 and set an “equal weight” rating on the stock in a research report on Tuesday, November 5th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target 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.