BlackRock Inc. bought a new stake in shares of Silicon Laboratories, Inc. (NASDAQ:SLAB - Free Report) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 5,195,073 shares of the semiconductor company's stock, valued at approximately $1,135,435,000. BlackRock Inc. owned 15.75% of Silicon Laboratories as of its most recent SEC filing.
Other institutional investors and hedge funds have also bought and sold shares of the company. Norges Bank purchased a new position in shares of Silicon Laboratories in the fourth quarter valued at $56,008,000. Thrivent Financial for Lutherans increased its position in shares of Silicon Laboratories by 312.9% during the fourth quarter. Thrivent Financial for Lutherans now owns 467,958 shares of the semiconductor company's stock valued at $61,162,000 after buying an additional 354,621 shares during the period. AQR Capital Management LLC increased its position in shares of Silicon Laboratories by 1,970.7% during the second quarter. AQR Capital Management LLC now owns 370,492 shares of the semiconductor company's stock valued at $54,516,000 after buying an additional 352,600 shares during the period. Bank of New York Mellon Corp purchased a new stake in shares of Silicon Laboratories in the second quarter worth about $45,699,000. Finally, Westfield Capital Management Co. LP lifted its holdings in shares of Silicon Laboratories by 59.9% in the fourth quarter. Westfield Capital Management Co. LP now owns 547,403 shares of the semiconductor company's stock worth $71,546,000 after buying an additional 205,093 shares in the last quarter.
Analyst Upgrades and Downgrades
Several research analysts recently weighed in on the stock. Zacks Research cut shares of Silicon Laboratories from a "hold" rating to a "strong sell" rating in a research report on Tuesday. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Silicon Laboratories in a research note on Wednesday, June 24th. Five analysts have rated the stock with a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Reduce" and a consensus target price of $218.00.
Get Our Latest Research Report on SLAB
Silicon Laboratories Price Performance
Shares of NASDAQ:SLAB opened at $218.00 on Friday. The stock's fifty day moving average price is $218.29 and its 200-day moving average price is $212.53. Silicon Laboratories, Inc. has a 1 year low of $115.50 and a 1 year high of $220.90. The company has a market cap of $7.27 billion, a P/E ratio of -184.75 and a beta of 1.37.
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 for the quarter, topping the consensus estimate of $0.69 by $0.02. The firm had revenue of $228.19 million for the quarter, compared to analysts' expectations of $227.99 million. Silicon Laboratories had a negative net margin of 4.57% and a negative return on equity of 0.66%. The business's quarterly revenue was up 18.3% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.11 EPS. On average, sell-side analysts anticipate that Silicon Laboratories, Inc. will post 0.52 earnings per share for the current year.
About Silicon Laboratories
(
Free Report)
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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