Meeder Asset Management Inc. Increases Position in Silicon Laboratories Inc. (NASDAQ:SLAB)

Meeder Asset Management Inc. grew its holdings in shares of Silicon Laboratories Inc. (NASDAQ:SLAB) by 250.1% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 3,743 shares of the semiconductor company’s stock after acquiring an additional 2,674 shares during the quarter. Meeder Asset Management Inc.’s holdings in Silicon Laboratories were worth $433,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Cullen Frost Bankers Inc. purchased a new position in shares of Silicon Laboratories in the second quarter valued at about $28,000. GAMMA Investing LLC lifted its position in 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 acquiring an additional 227 shares during the period. Daiwa Securities Group Inc. purchased a new position in shares of Silicon Laboratories during the second quarter valued at approximately $60,000. Lazard Asset Management LLC purchased a new position in Silicon Laboratories during the first quarter valued at $103,000. Finally, Migdal Insurance & Financial Holdings Ltd. bought a new position in Silicon Laboratories in the 2nd quarter worth about $82,000.

Silicon Laboratories Price Performance

Silicon Laboratories stock opened at $98.40 on Wednesday. Silicon Laboratories Inc. has a 1 year low of $94.00 and a 1 year high of $154.91. The firm’s 50 day moving average price is $111.42 and its 200-day moving average price is $114.48. The stock has a market cap of $3.19 billion, a P/E ratio of -13.30 and a beta of 1.20.

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

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on SLAB shares. KeyCorp lowered their price objective on Silicon Laboratories from $150.00 to $115.00 and set an “overweight” rating on the stock in a research report 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 lowered their target price on Silicon Laboratories from $160.00 to $135.00 and set a “buy” rating on the stock in a research report on Tuesday, November 5th. Morgan Stanley reduced their price target on Silicon Laboratories from $123.00 to $97.00 and set an “equal weight” rating for the company in a research report on Tuesday, November 5th. Finally, Needham & Company LLC reiterated a “buy” rating and set a $150.00 price objective on shares of Silicon Laboratories in a research note on Thursday, July 25th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $121.50.

Insider Transactions at Silicon Laboratories

In other Silicon Laboratories news, SVP Brandon Tolany sold 845 shares of the firm’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was 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 $5,015,725. This trade represents a 1.90 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Insiders own 1.72% of the company’s stock.

About Silicon Laboratories

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.