New York State Common Retirement Fund Trims Stake in Silicon Laboratories Inc. (NASDAQ:SLAB)

New York State Common Retirement Fund lowered its holdings in Silicon Laboratories Inc. (NASDAQ:SLAB) by 4.9% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 12,800 shares of the semiconductor company’s stock after selling 659 shares during the period. New York State Common Retirement Fund’s holdings in Silicon Laboratories were worth $1,693,000 at the end of the most recent reporting period.

A number of other large investors have also recently modified their holdings of SLAB. SG Americas Securities LLC purchased a new position in Silicon Laboratories in the third quarter worth $380,000. Raymond James & Associates lifted its stake in Silicon Laboratories by 14.2% during the third quarter. Raymond James & Associates now owns 79,046 shares of the semiconductor company’s stock worth $9,161,000 after purchasing an additional 9,845 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of Silicon Laboratories by 6.8% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,372 shares of the semiconductor company’s stock worth $738,000 after purchasing an additional 403 shares in the last quarter. Park Avenue Securities LLC bought a new position in shares of Silicon Laboratories during the 3rd quarter valued at about $339,000. Finally, Inspire Investing LLC raised its holdings in shares of Silicon Laboratories by 33.5% during the 3rd quarter. Inspire Investing LLC now owns 2,647 shares of the semiconductor company’s stock valued at $307,000 after buying an additional 664 shares in the last quarter.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on SLAB. Needham & Company LLC raised Silicon Laboratories from a “hold” rating to a “buy” rating and set a $150.00 target price for the company in a research note on Thursday, April 25th. JPMorgan Chase & Co. reduced their target price on shares of Silicon Laboratories from $165.00 to $150.00 and set an “overweight” rating on the stock in a report on Thursday, April 25th. Citigroup lowered 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 note on Thursday, April 25th. Barclays decreased their price objective on Silicon Laboratories from $140.00 to $120.00 and set an “equal weight” rating on the stock in a report on Thursday, April 25th. Finally, TD Cowen dropped their target price on Silicon Laboratories from $155.00 to $145.00 and set a “buy” rating for the company in a report on Thursday, April 25th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $135.00.

Silicon Laboratories Stock Performance

Shares of SLAB stock opened at $127.96 on Friday. The firm has a market cap of $4.08 billion, a P/E ratio of -38.66 and a beta of 1.25. The business’s 50 day moving average price is $131.32 and its 200-day moving average price is $123.06. Silicon Laboratories Inc. has a fifty-two week low of $74.56 and a fifty-two week high of $166.94.

Silicon Laboratories (NASDAQ:SLAB) last released its quarterly earnings results on Wednesday, April 24th. The semiconductor company reported ($1.34) earnings per share for the quarter, missing the consensus estimate of ($1.29) by ($0.05). Silicon Laboratories had a negative net margin of 16.36% and a negative return on equity of 4.45%. The company had revenue of $106.38 million during the quarter, compared to the consensus estimate of $104.45 million. As a group, equities analysts predict that Silicon Laboratories Inc. will post -3.1 EPS for the current year.

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.