Corton Capital Inc. Purchases New Position in Silicon Laboratories, Inc. $SLAB

Corton Capital Inc. purchased a new stake in Silicon Laboratories, Inc. (NASDAQ:SLAB) during the second quarter, HoldingsChannel.com reports. The firm purchased 1,499 shares of the semiconductor company’s stock, valued at approximately $221,000.

A number of other institutional investors and hedge funds have also bought and sold shares of SLAB. Wealth Enhancement Advisory Services LLC grew its stake in Silicon Laboratories by 17.9% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 2,751 shares of the semiconductor company’s stock valued at $310,000 after buying an additional 417 shares during the last quarter. KBC Group NV grew its position in shares of Silicon Laboratories by 27.1% during the 1st quarter. KBC Group NV now owns 1,625 shares of the semiconductor company’s stock worth $183,000 after purchasing an additional 346 shares in the last quarter. Teacher Retirement System of Texas acquired a new position in shares of Silicon Laboratories during the 1st quarter worth approximately $568,000. Oregon Public Employees Retirement Fund grew its position in shares of Silicon Laboratories by 1.5% during the 1st quarter. Oregon Public Employees Retirement Fund now owns 6,668 shares of the semiconductor company’s stock worth $751,000 after purchasing an additional 100 shares in the last quarter. Finally, Principal Financial Group Inc. grew its position in shares of Silicon Laboratories by 72.2% during the 1st quarter. Principal Financial Group Inc. now owns 129,911 shares of the semiconductor company’s stock worth $14,624,000 after purchasing an additional 54,463 shares in the last quarter.

Analyst Ratings Changes

A number of brokerages have issued reports on SLAB. Stifel Nicolaus increased their target price on shares of Silicon Laboratories from $144.00 to $160.00 and gave the stock a “buy” rating in a research report on Friday, July 18th. Morgan Stanley decreased their target price on shares of Silicon Laboratories from $157.00 to $144.00 and set an “equal weight” rating on the stock in a research report on Wednesday, August 6th. Weiss Ratings restated a “sell (d-)” rating on shares of Silicon Laboratories in a research report on Wednesday, October 8th. KeyCorp increased their target price on shares of Silicon Laboratories from $160.00 to $180.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 8th. Finally, Barclays increased their target price on shares of Silicon Laboratories from $100.00 to $130.00 and gave the stock an “equal weight” rating in a research report on Tuesday, August 5th. Five research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, Silicon Laboratories has an average rating of “Hold” and a consensus price target of $151.13.

Silicon Laboratories Trading Down 2.4%

Shares of Silicon Laboratories stock opened at $127.96 on Tuesday. The company has a 50 day moving average of $133.87 and a 200-day moving average of $131.30. Silicon Laboratories, Inc. has a 1-year low of $82.82 and a 1-year high of $160.00. The company has a market cap of $4.20 billion, a PE ratio of -39.74 and a beta of 1.51.

Silicon Laboratories (NASDAQ:SLAB) last issued its quarterly earnings results on Tuesday, August 5th. The semiconductor company reported $0.11 earnings per share for the quarter, topping analysts’ consensus estimates of $0.09 by $0.02. Silicon Laboratories had a negative net margin of 14.88% and a negative return on equity of 7.21%. The company had revenue of $192.85 million during the quarter, compared to the consensus estimate of $192.57 million. During the same quarter in the prior year, the firm posted ($0.56) EPS. The firm’s quarterly revenue was up 32.6% on a year-over-year basis. Research analysts forecast that Silicon Laboratories, Inc. will post -0.97 earnings per share for the current year.

Insider Buying and Selling at Silicon Laboratories

In other news, SVP Brandon Tolany sold 1,800 shares of the company’s stock in a transaction that occurred on Friday, August 29th. The shares were sold at an average price of $133.57, for a total transaction of $240,426.00. Following the completion of the sale, the senior vice president owned 62,328 shares of the company’s stock, valued at approximately $8,325,150.96. This represents a 2.81% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Over the last ninety days, insiders have sold 12,070 shares of company stock worth $1,703,472. Corporate insiders own 1.60% of the company’s stock.

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.