Silicon Laboratories Inc. (NASDAQ:SLAB) Shares Acquired by State of New Jersey Common Pension Fund D

State of New Jersey Common Pension Fund D increased its position in Silicon Laboratories Inc. (NASDAQ:SLAB) by 33.0% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 24,763 shares of the semiconductor company’s stock after acquiring an additional 6,141 shares during the period. State of New Jersey Common Pension Fund D owned approximately 0.08% of Silicon Laboratories worth $3,275,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of the company. Vanguard Group Inc. grew its position in Silicon Laboratories by 1.7% in the 3rd quarter. Vanguard Group Inc. now owns 3,285,032 shares of the semiconductor company’s stock valued at $380,702,000 after buying an additional 55,586 shares in the last quarter. Van Berkom & Associates Inc. grew its position in Silicon Laboratories by 36.2% in the 3rd quarter. Van Berkom & Associates Inc. now owns 572,762 shares of the semiconductor company’s stock valued at $66,377,000 after buying an additional 152,269 shares in the last quarter. Federated Hermes Inc. grew its position in Silicon Laboratories by 6.9% in the 4th quarter. Federated Hermes Inc. now owns 516,484 shares of the semiconductor company’s stock valued at $68,315,000 after buying an additional 33,357 shares in the last quarter. Eagle Asset Management Inc. grew its position in Silicon Laboratories by 2.7% in the 3rd quarter. Eagle Asset Management Inc. now owns 460,435 shares of the semiconductor company’s stock valued at $53,360,000 after buying an additional 12,174 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its position in Silicon Laboratories by 6.3% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 417,103 shares of the semiconductor company’s stock valued at $48,338,000 after buying an additional 24,659 shares in the last quarter.

Silicon Laboratories Stock Performance

SLAB stock opened at $122.13 on Friday. The firm has a 50 day simple moving average of $133.57 and a 200 day simple moving average of $122.15. Silicon Laboratories Inc. has a 52 week low of $74.56 and a 52 week high of $166.94.

Silicon Laboratories (NASDAQ:SLAB) last posted its 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). The business had revenue of $106.38 million during the quarter, compared to analyst estimates of $104.45 million. Silicon Laboratories had a negative net margin of 16.36% and a negative return on equity of 4.45%. On average, sell-side analysts forecast that Silicon Laboratories Inc. will post -1.66 earnings per share for the current year.

Analysts Set New Price Targets

SLAB has been the topic of several recent research reports. Barclays lowered their price objective on shares of Silicon Laboratories from $140.00 to $120.00 and set an “equal weight” rating on the stock in a research note on Thursday. Citigroup lowered their price objective on shares of Silicon Laboratories from $137.00 to $120.00 and set a “neutral” rating on the stock in a research note on Thursday. TD Cowen lowered their price objective on shares of Silicon Laboratories from $155.00 to $145.00 and set a “buy” rating on the stock in a research note on Thursday. Needham & Company LLC raised shares of Silicon Laboratories from a “hold” rating to a “buy” rating and set a $150.00 price objective on the stock in a research note on Thursday. Finally, JPMorgan Chase & Co. lowered their price objective on shares of Silicon Laboratories from $165.00 to $150.00 and set an “overweight” rating on the stock in a research note on Thursday. One investment analyst has rated the stock with a sell rating, six have given a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, Silicon Laboratories presently has an average rating of “Hold” and a consensus target price of $135.00.

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.