25,783 Shares in Silicon Laboratories, Inc. $SLAB Bought by Polar Asset Management Partners Inc.

Key Points

• Polar Asset Management Partners initiated a 25,783-share stake in Silicon Laboratories, valued at approximately $5.6 million and representing about 0.08% of the company.
• Analyst sentiment is cautious: five analysts rate SLAB a Hold and two rate it Sell, resulting in an average “Reduce” rating and a $218 price target. Zacks Research recently downgraded the stock to “Strong Sell.”
• Silicon Laboratories reported quarterly EPS of $0.71, exceeding estimates by $0.02, while revenue of $228.19 million rose 18.3% year over year. Shares opened at $218.37, near their 12-month high of $220.90.

Polar Asset Management Partners Inc. bought a new stake in shares of Silicon Laboratories, Inc. (NASDAQ:SLAB - Free Report) in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 25,783 shares of the semiconductor company's stock, valued at approximately $5,635,000. Polar Asset Management Partners Inc. owned approximately 0.08% of Silicon Laboratories as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently bought and sold shares of the stock. Vident Advisory LLC grew its position in shares of Silicon Laboratories by 2.5% during the fourth quarter. Vident Advisory LLC now owns 3,018 shares of the semiconductor company's stock valued at $394,000 after purchasing an additional 74 shares in the last quarter. EverSource Wealth Advisors LLC boosted its stake in Silicon Laboratories by 66.7% during the first quarter. EverSource Wealth Advisors LLC now owns 225 shares of the semiconductor company's stock valued at $47,000 after buying an additional 90 shares during the last quarter. Bank of Montreal Can boosted its stake in Silicon Laboratories by 2.9% during the fourth quarter. Bank of Montreal Can now owns 3,355 shares of the semiconductor company's stock valued at $438,000 after buying an additional 96 shares during the last quarter. State of Michigan Retirement System grew its holdings in Silicon Laboratories by 1.3% during the 1st quarter. State of Michigan Retirement System now owns 7,897 shares of the semiconductor company's stock valued at $1,644,000 after buying an additional 100 shares in the last quarter. Finally, Inspire Investing LLC grew its holdings in Silicon Laboratories by 3.1% during the 4th quarter. Inspire Investing LLC now owns 3,585 shares of the semiconductor company's stock valued at $469,000 after buying an additional 109 shares in the last quarter.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the company. Zacks Research downgraded Silicon Laboratories from a "hold" rating to a "strong sell" rating in a research report on Tuesday, August 18th. Weiss Ratings restated a "sell (d-)" rating on shares of Silicon Laboratories in a research report on Wednesday, June 24th. Five equities research analysts have rated the stock with a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, the stock has an average rating of "Reduce" and an average target price of $218.00.

Silicon Laboratories Trading Up 0.1%

SLAB opened at $218.37 on Wednesday. The firm has a market cap of $7.29 billion, a P/E ratio of -185.06 and a beta of 1.37. Silicon Laboratories, Inc. has a 12 month low of $115.50 and a 12 month high of $220.90. The stock has a 50-day moving average of $218.22 and a 200 day moving average of $213.70.

Silicon Laboratories (NASDAQ:SLAB - Get Free Report) last issued its quarterly earnings data on Tuesday, August 11th. The semiconductor company reported $0.71 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.69 by $0.02. The business had revenue of $228.19 million for the quarter, compared to the consensus estimate of $227.99 million. Silicon Laboratories had a negative return on equity of 0.66% and a negative net margin of 4.57%.The company's quarterly revenue was up 18.3% compared to the same quarter last year. During the same period in the prior year, the business posted $0.11 earnings per share. On average, research analysts forecast that Silicon Laboratories, Inc. will post 0.52 earnings per share for the current fiscal year.

Silicon Laboratories Profile

Silicon Laboratories NASDAQ: SLAB is a global semiconductor company that develops high-performance analog and mixed-signal integrated circuits, wireless system-on-chips (SoCs), microcontrollers, and radio frequency (RF) solutions. Its product portfolio is tailored to support the Internet of Things (IoT), infrastructure, industrial automation, consumer electronics, automotive, and energy markets. By combining silicon, software, and tools, Silicon Labs aims to accelerate development cycles and deliver low-power, highly integrated solutions that address demanding application requirements.

Founded in 1996 and headquartered in Austin, Texas, Silicon Labs has grown into a multinational organization with engineering and sales operations across North America, Europe, and Asia.

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