Algert Global LLC Has $3.67 Million Holdings in Silicon Laboratories, Inc. $SLAB

Key Points

• Algert Global reduced its Silicon Laboratories stake by 23.3% in the second quarter, selling 5,110 shares and retaining 16,803 shares valued at approximately $3.67 million.
• Analyst sentiment remains cautious, with a consensus “Reduce” rating and an average price target of $218; recent coverage included downgrades to “strong sell” and “sell” ratings.
• Silicon Laboratories exceeded quarterly earnings expectations, reporting $0.71 EPS versus $0.69 expected and $228.19 million in revenue. Revenue increased 18.3% year over year, despite a negative net margin.

Algert Global LLC trimmed its position in shares of Silicon Laboratories, Inc. (NASDAQ:SLAB - Free Report) by 23.3% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 16,803 shares of the semiconductor company's stock after selling 5,110 shares during the quarter. Algert Global LLC owned approximately 0.05% of Silicon Laboratories worth $3,672,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently modified their holdings of the company. AQR Capital Management LLC raised its position in Silicon Laboratories by 43.7% in the 1st quarter. AQR Capital Management LLC now owns 17,892 shares of the semiconductor company's stock valued at $2,001,000 after purchasing an additional 5,439 shares during the last quarter. Millennium Management LLC boosted its stake in Silicon Laboratories by 2,804.1% in the first quarter. Millennium Management LLC now owns 99,842 shares of the semiconductor company's stock worth $11,239,000 after purchasing an additional 96,404 shares in the last quarter. Jones Financial Companies Lllp grew its holdings in shares of Silicon Laboratories by 121.4% during the first quarter. Jones Financial Companies Lllp now owns 496 shares of the semiconductor company's stock worth $56,000 after purchasing an additional 272 shares during the last quarter. United Services Automobile Association bought a new stake in shares of Silicon Laboratories during the first quarter worth $235,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in shares of Silicon Laboratories by 1.8% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 97,156 shares of the semiconductor company's stock valued at $10,937,000 after buying an additional 1,679 shares in the last quarter.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the stock. Zacks Research downgraded shares of Silicon Laboratories from a "hold" rating to a "strong sell" rating in a research report on Tuesday, August 18th. Weiss Ratings restated a "sell (d-)" rating on shares of Silicon Laboratories in a research report on Wednesday, June 24th. Five investment analysts have rated the stock with a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Reduce" and an average target price of $218.00.

Silicon Laboratories Stock Down 0.2%

Shares of SLAB opened at $218.54 on Friday. The stock's fifty day simple moving average is $218.19 and its 200-day simple moving average is $213.91. The firm has a market capitalization of $7.29 billion, a PE ratio of -185.20 and a beta of 1.37. Silicon Laboratories, Inc. has a 12-month low of $115.50 and a 12-month high of $220.90.

Silicon Laboratories (NASDAQ:SLAB - Get Free Report) last announced 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 return on equity of 0.66% and a negative net margin of 4.57%.The company's quarterly revenue was up 18.3% compared to the same quarter last year. During the same period in the previous year, the business posted $0.11 EPS. Analysts anticipate that Silicon Laboratories, Inc. will post 0.52 EPS for the current year.

Silicon Laboratories Company Profile

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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