Pentwater Capital Management LP purchased a new position in shares of Silicon Laboratories, Inc. (NASDAQ:SLAB - Free Report) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 741,725 shares of the semiconductor company's stock, valued at approximately $162,111,000. Silicon Laboratories makes up approximately 1.0% of Pentwater Capital Management LP's holdings, making the stock its 19th largest holding. Pentwater Capital Management LP owned about 2.22% of Silicon Laboratories as of its most recent SEC filing.
Several other institutional investors and hedge funds have also recently bought and sold shares of SLAB. Harbor Investment Advisory LLC acquired a new stake in shares of Silicon Laboratories during the 2nd quarter valued at about $28,000. Kestra Advisory Services LLC acquired a new position in Silicon Laboratories in the fourth quarter worth about $32,000. Covestor Ltd raised its holdings in shares of Silicon Laboratories by 260.3% in the 4th quarter. Covestor Ltd now owns 281 shares of the semiconductor company's stock worth $37,000 after buying an additional 203 shares in the last quarter. Allworth Financial LP acquired a new position in Silicon Laboratories during the second quarter worth $42,000. Finally, Kemnay Advisory Services Inc. bought a new stake in shares of Silicon Laboratories in the 4th quarter worth about $44,000.
Analyst Upgrades and Downgrades
A number of equities analysts have commented on SLAB shares. Zacks Research lowered shares of Silicon Laboratories from a "hold" rating to a "strong sell" rating in a research report on Tuesday, August 18th. Weiss Ratings reiterated 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 MarketBeat.com, the company currently has a consensus rating of "Reduce" and an average price target of $218.00.
Check Out Our Latest Analysis on SLAB
Silicon Laboratories Trading Up 0.2%
Shares of SLAB stock opened at $218.83 on Thursday. Silicon Laboratories, Inc. has a 1 year low of $115.50 and a 1 year high of $220.90. The firm's 50 day moving average is $218.23 and its 200-day moving average is $213.79. The firm has a market capitalization of $7.30 billion, a price-to-earnings ratio of -185.45 and a beta of 1.37.
Silicon Laboratories (NASDAQ:SLAB - Get Free Report) last posted 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 during 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%. Silicon Laboratories's revenue was up 18.3% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.11 EPS. On average, equities research analysts forecast that Silicon Laboratories, Inc. will post 0.52 earnings per share for the current fiscal year.
Silicon Laboratories Profile
(
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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