Wed Sep 25 07:58:46 UTC 2024: ## Silicon Laboratories (SLAB) Sees Institutional Interest, Despite State of New Jersey Pension Fund Reducing Stake
**[City, State] – September 25, 2024** – Silicon Laboratories Inc. (NASDAQ:SLAB) has been attracting attention from institutional investors, despite a recent reduction in holdings by the State of New Jersey Common Pension Fund D.
The pension fund decreased its stake in the semiconductor company by 25.6% in the second quarter, selling 5,244 shares. However, the company’s stock value remains significant, currently worth $1,686,000.
While the New Jersey fund trimmed its position, other institutional investors are showing interest in SLAB. Notably, several hedge funds acquired new positions in the company during the first and second quarters, including Cullen Frost Bankers Inc., Fidelis Capital Partners LLC, Daiwa Securities Group Inc., Mather Group LLC, and Migdal Insurance & Financial Holdings Ltd.
SLAB opened at $113.15 on Wednesday, with a 1-year low of $74.56 and a 1-year high of $154.91. The company’s market cap is $3.61 billion, and it has a PE ratio of -34.18 and a beta of 1.19.
Recent insider trading activities include the sale of 845 shares by SVP Brandon Tolany at an average price of $115.00. Insiders currently own 1.72% of the company’s stock.
Analysts have varying opinions on SLAB. Needham & Company LLC maintains a “buy” rating with a $150.00 target price, while StockNews.com upgraded the stock to a “sell” rating. Overall, analysts have assigned five “hold” ratings, five “buy” ratings, and one “sell” rating, resulting in an average rating of “Hold” and a consensus price target of $135.00.
Silicon Laboratories, a fabless semiconductor company, specializes in analog-intensive mixed-signal solutions. The company’s products are used in various electronic devices across diverse applications, including the Internet of Things (IoT), smart cities, commercial IoT, smart homes, and connected health.
First Piper 