Wrapmanager Inc. Increases Holdings in Silicon Laboratories Inc. (NASDAQ:SLAB)

Wrapmanager Inc. raised its stake in shares of Silicon Laboratories Inc. (NASDAQ:SLAB) by 63.9% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 3,290 shares of the semiconductor company’s stock after purchasing an additional 1,283 shares during the quarter. Wrapmanager Inc.’s holdings in Silicon Laboratories were worth $435,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently added to or reduced their stakes in the company. Venturi Wealth Management LLC purchased a new stake in Silicon Laboratories in the third quarter worth $30,000. GAMMA Investing LLC purchased a new stake in Silicon Laboratories in the fourth quarter worth about $36,000. CWM LLC raised its stake in Silicon Laboratories by 78.1% during the 4th quarter. CWM LLC now owns 374 shares of the semiconductor company’s stock worth $49,000 after acquiring an additional 164 shares during the period. Itau Unibanco Holding S.A. purchased a new position in shares of Silicon Laboratories during the 3rd quarter valued at $61,000. Finally, International Assets Investment Management LLC lifted its stake in shares of Silicon Laboratories by 429.1% during the 4th quarter. International Assets Investment Management LLC now owns 926 shares of the semiconductor company’s stock valued at $122,000 after buying an additional 751 shares in the last quarter.

Wall Street Analysts Forecast Growth

SLAB has been the subject of a number of research reports. TD Cowen dropped their target price on shares of Silicon Laboratories from $155.00 to $145.00 and set a “buy” rating for the company in a research report on Thursday, April 25th. Needham & Company LLC raised Silicon Laboratories from a “hold” rating to a “buy” rating and set a $150.00 target price on the stock in a research report on Thursday, April 25th. Citigroup lowered their price target on Silicon Laboratories from $137.00 to $120.00 and set a “neutral” rating for the company in a research report on Thursday, April 25th. Barclays cut their target price on Silicon Laboratories from $140.00 to $120.00 and set an “equal weight” rating on the stock in a research note on Thursday, April 25th. Finally, JPMorgan Chase & Co. decreased their price objective on Silicon Laboratories from $165.00 to $150.00 and set an “overweight” rating for the company in a report on Thursday, April 25th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $135.00.

Silicon Laboratories Stock Performance

Silicon Laboratories stock traded up $1.06 during midday trading on Thursday, hitting $127.96. 188,378 shares of the company’s stock were exchanged, compared to its average volume of 322,035. Silicon Laboratories Inc. has a 12-month low of $74.56 and a 12-month high of $166.94. The firm’s 50 day simple moving average is $131.32 and its 200 day simple moving average is $123.06. The stock has a market cap of $4.08 billion, a price-to-earnings ratio of -38.66 and a beta of 1.25.

Silicon Laboratories (NASDAQ:SLAB) last issued its quarterly earnings results on Wednesday, April 24th. The semiconductor company reported ($1.34) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.29) by ($0.05). Silicon Laboratories had a negative return on equity of 4.45% and a negative net margin of 16.36%. The firm had revenue of $106.38 million for the quarter, compared to analyst estimates of $104.45 million. On average, equities research analysts forecast that Silicon Laboratories Inc. will post -3.1 EPS for the current fiscal 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.