8,292 Shares in Silicon Laboratories, Inc. $SLAB Purchased by Markel Group Inc.

Key Points

• Markel Group initiated a position in Silicon Laboratories, buying 8,292 shares worth approximately $1.84 million in the third quarter.
• Analyst sentiment is cautious: six analysts rate SLAB Hold and one rates it Sell, with a consensus rating of “Reduce” and a $218 price target.
• Silicon Laboratories reported quarterly EPS of $0.71, slightly above estimates, while revenue rose 18.3% year over year to $228.19 million.

Markel Group Inc. bought a new position in Silicon Laboratories, Inc. (NASDAQ:SLAB - Free Report) in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 8,292 shares of the semiconductor company's stock, valued at approximately $1,837,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of SLAB. BlackRock Inc. purchased a new position in shares of Silicon Laboratories during the 2nd quarter worth $1,135,435,000. HBK Investments L P acquired a new stake in shares of Silicon Laboratories during the second quarter worth $218,560,000. Pentwater Capital Management LP purchased a new stake in shares of Silicon Laboratories in the second quarter valued at $162,111,000. Hsbc Holdings PLC purchased a new stake in shares of Silicon Laboratories in the second quarter valued at $67,455,000. Finally, Bank of New York Mellon Corp purchased a new stake in shares of Silicon Laboratories in the second quarter valued at $45,699,000.

Analyst Upgrades and Downgrades

Several research firms recently commented on SLAB. Wall Street Zen upgraded Silicon Laboratories to a "hold" rating in a research note on Saturday, October 10th. Weiss Ratings reissued a "sell (d-)" rating on shares of Silicon Laboratories in a research note on Monday, September 21st. Finally, Zacks Research raised Silicon Laboratories from a "strong sell" rating to a "hold" rating in a research note on Monday, October 12th. Six equities research analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Reduce" and a consensus target price of $218.00.

Silicon Laboratories Stock Performance

Shares of SLAB stock opened at $222.34 on Wednesday. The firm has a market capitalization of $7.42 billion, a price-to-earnings ratio of -188.42 and a beta of 1.20. Silicon Laboratories, Inc. has a one year low of $115.50 and a one year high of $223.50. The company has a 50 day moving average price of $220.92 and a 200 day moving average price of $210.97.

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

Silicon Laboratories Profile

Silicon Laboratories Inc is a fabless semiconductor company that develops technologies for the Internet of Things (IoT). The company provides integrated circuits, wireless modules, software and development tools that help manufacturers connect, monitor and control devices used in residential, commercial and industrial applications.

Its product portfolio includes wireless system-on-chip devices and modules supporting technologies such as Bluetooth, Wi-Fi, Zigbee, Thread, Matter, Z-Wave and proprietary sub-GHz protocols.

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