Alberta Investment Management Corp Makes New Investment in Silicon Laboratories, Inc. $SLAB

Alberta Investment Management Corp purchased a new stake in 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. The fund purchased 30,000 shares of the semiconductor company's stock, valued at approximately $6,557,000. Alberta Investment Management Corp owned about 0.09% of Silicon Laboratories at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Vident Advisory LLC increased its position in Silicon Laboratories by 2.5% during the 4th 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 during the period. EverSource Wealth Advisors LLC raised its holdings in Silicon Laboratories by 66.7% during the 1st quarter. EverSource Wealth Advisors LLC now owns 225 shares of the semiconductor company's stock worth $47,000 after purchasing an additional 90 shares during the last quarter. Bank of Montreal Can lifted its position in shares of Silicon Laboratories by 2.9% in the 4th quarter. Bank of Montreal Can now owns 3,355 shares of the semiconductor company's stock worth $438,000 after purchasing an additional 96 shares during the period. State of Michigan Retirement System lifted its position in shares of Silicon Laboratories by 1.3% in the 1st quarter. State of Michigan Retirement System now owns 7,897 shares of the semiconductor company's stock worth $1,644,000 after purchasing an additional 100 shares during the period. Finally, Inspire Investing LLC boosted its stake in shares of Silicon Laboratories by 3.1% in the 4th quarter. Inspire Investing LLC now owns 3,585 shares of the semiconductor company's stock valued at $469,000 after purchasing an additional 109 shares during the last quarter.

Silicon Laboratories Stock Performance

Shares of SLAB stock opened at $218.41 on Monday. Silicon Laboratories, Inc. has a fifty-two week low of $115.50 and a fifty-two week high of $220.90. The stock has a 50 day simple moving average of $218.29 and a two-hundred day simple moving average of $210.37. The company has a market cap of $7.29 billion, a P/E ratio of -185.09 and a beta of 1.37.

Silicon Laboratories (NASDAQ:SLAB - Get Free Report) last posted its quarterly earnings results on Tuesday, August 11th. The semiconductor company reported $0.71 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 return on equity of 0.66% and a negative net margin of 4.57%.The company's revenue for the quarter was up 18.3% compared to the same quarter last year. During the same period in the prior year, the business earned $0.11 EPS. On average, research analysts predict that Silicon Laboratories, Inc. will post 0.74 earnings per share for the current year.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reiterated a "sell (d-)" rating on shares of Silicon Laboratories in a research report on Wednesday, June 24th. Five research analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Silicon Laboratories presently has a consensus rating of "Reduce" and an average price target of $218.00.

About Silicon Laboratories

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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