Allspring Global Investments Holdings LLC Has $7.32 Million Position in Silicon Laboratories Inc. (NASDAQ:SLAB)

Allspring Global Investments Holdings LLC decreased its holdings in Silicon Laboratories Inc. (NASDAQ:SLAB) by 45.9% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 55,316 shares of the semiconductor company’s stock after selling 46,936 shares during the quarter. Allspring Global Investments Holdings LLC owned 0.17% of Silicon Laboratories worth $7,317,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. First Republic Investment Management Inc. raised its position in Silicon Laboratories by 1.1% in the first quarter. First Republic Investment Management Inc. now owns 7,703 shares of the semiconductor company’s stock worth $1,349,000 after purchasing an additional 83 shares in the last quarter. Belpointe Asset Management LLC raised its holdings in shares of Silicon Laboratories by 72.5% in the 1st quarter. Belpointe Asset Management LLC now owns 207 shares of the semiconductor company’s stock worth $36,000 after buying an additional 87 shares in the last quarter. L. Roy Papp & Associates LLP lifted its position in shares of Silicon Laboratories by 1.2% during the 4th quarter. L. Roy Papp & Associates LLP now owns 9,920 shares of the semiconductor company’s stock worth $1,312,000 after buying an additional 120 shares during the period. State of Wyoming boosted its stake in Silicon Laboratories by 17.3% in the 2nd quarter. State of Wyoming now owns 821 shares of the semiconductor company’s stock valued at $130,000 after buying an additional 121 shares in the last quarter. Finally, Migdal Insurance & Financial Holdings Ltd. grew its position in Silicon Laboratories by 20.0% in the third 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 during the period.

Wall Street Analyst Weigh In

SLAB has been the topic of several recent analyst reports. JPMorgan Chase & Co. boosted their target price on shares of Silicon Laboratories from $145.00 to $165.00 and gave the company an “overweight” rating in a research note on Thursday, February 8th. TD Cowen raised their price objective on shares of Silicon Laboratories from $140.00 to $155.00 and gave the stock an “outperform” rating in a report on Thursday, February 8th. StockNews.com downgraded Silicon Laboratories from a “hold” rating to a “sell” rating in a report on Friday, December 29th. Barclays increased their price target on Silicon Laboratories from $120.00 to $140.00 and gave the stock an “equal weight” rating in a research report on Thursday, February 8th. Finally, Stifel Nicolaus lifted their price objective on Silicon Laboratories from $136.00 to $155.00 and gave the company a “buy” rating in a research report on Tuesday, January 2nd. One research analyst has rated the stock with a sell rating, four have given a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $143.29.

Silicon Laboratories Price Performance

NASDAQ SLAB opened at $121.53 on Thursday. Silicon Laboratories Inc. has a 52 week low of $74.56 and a 52 week high of $172.94. The stock has a fifty day moving average of $136.59 and a 200-day moving average of $121.98.

Silicon Laboratories (NASDAQ:SLAB) last announced its quarterly earnings data on Wednesday, February 7th. The semiconductor company reported ($1.46) EPS for the quarter, topping analysts’ consensus estimates of ($1.91) by $0.45. Silicon Laboratories had a positive return on equity of 0.97% and a negative net margin of 4.41%. The firm had revenue of $86.85 million during the quarter, compared to analyst estimates of $85.32 million. On average, sell-side analysts anticipate that Silicon Laboratories Inc. will post -1.66 earnings per share for the current fiscal year.

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.