Virtu Financial LLC Acquires Shares of 8,112 Silicon Laboratories, Inc. (NASDAQ:SLAB)

Key Points

• Virtu Financial LLC acquired 8,112 shares of Silicon Laboratories, valued at approximately $913,000, during the first quarter.
• Silicon Laboratories CEO Robert Matthew Johnson sold 5,879 shares at an average price of $131.20, decreasing his ownership by 7.39%.
• The stock has seen a negative net margin of 14.88% and is currently trading at around $124.82, indicating a 0.5% drop.

Virtu Financial LLC purchased a new stake in shares of Silicon Laboratories, Inc. (NASDAQ:SLAB - Free Report) during the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 8,112 shares of the semiconductor company's stock, valued at approximately $913,000.

A number of other hedge funds have also bought and sold shares of SLAB. O Shaughnessy Asset Management LLC acquired a new position in Silicon Laboratories during the 4th quarter valued at approximately $214,000. Wells Fargo & Company MN increased its stake in Silicon Laboratories by 10.8% during the 4th quarter. Wells Fargo & Company MN now owns 40,988 shares of the semiconductor company's stock valued at $5,092,000 after purchasing an additional 3,996 shares in the last quarter. Bank of Montreal Can boosted its holdings in shares of Silicon Laboratories by 25.6% in the 4th quarter. Bank of Montreal Can now owns 4,474 shares of the semiconductor company's stock valued at $556,000 after acquiring an additional 911 shares during the last quarter. Invesco Ltd. boosted its holdings in shares of Silicon Laboratories by 46.9% in the 4th quarter. Invesco Ltd. now owns 595,382 shares of the semiconductor company's stock valued at $73,958,000 after acquiring an additional 190,085 shares during the last quarter. Finally, Raymond James Financial Inc. purchased a new stake in shares of Silicon Laboratories in the 4th quarter valued at $14,252,000.

Silicon Laboratories Price Performance

SLAB stock traded down $2.47 during midday trading on Friday, hitting $130.67. 290,049 shares of the stock traded hands, compared to its average volume of 433,886. The firm has a market cap of $4.29 billion, a P/E ratio of -40.58 and a beta of 1.48. The stock's fifty day simple moving average is $139.31 and its 200-day simple moving average is $127.92. Silicon Laboratories, Inc. has a 1-year low of $82.82 and a 1-year high of $160.00.

Silicon Laboratories (NASDAQ:SLAB - Get Free Report) last released its quarterly earnings results on Tuesday, August 5th. The semiconductor company reported $0.11 EPS for the quarter, beating the consensus estimate of $0.09 by $0.02. The company had revenue of $192.85 million for the quarter, compared to analyst estimates of $192.57 million. Silicon Laboratories had a negative net margin of 14.88% and a negative return on equity of 7.21%. The firm's revenue was up 32.6% on a year-over-year basis. During the same quarter last year, the business earned ($0.56) earnings per share. On average, research analysts predict that Silicon Laboratories, Inc. will post -0.97 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the stock. KeyCorp upped their price objective on shares of Silicon Laboratories from $160.00 to $180.00 and gave the company an "overweight" rating in a report on Tuesday, July 8th. Needham & Company LLC reaffirmed a "buy" rating and issued a $150.00 price objective on shares of Silicon Laboratories in a report on Wednesday, May 14th. Wall Street Zen raised shares of Silicon Laboratories from a "sell" rating to a "hold" rating in a report on Wednesday, May 14th. Barclays upped their price objective on shares of Silicon Laboratories from $100.00 to $130.00 and gave the company an "equal weight" rating in a report on Tuesday, August 5th. Finally, Morgan Stanley dropped their price objective on shares of Silicon Laboratories from $157.00 to $144.00 and set an "equal weight" rating on the stock in a report on Wednesday, August 6th. Four research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $151.13.

About Silicon Laboratories

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.