Cubist Systematic Strategies LLC Buys Shares of 9,176 Silicon Laboratories, Inc. $SLAB

Key Points

• Cubist Systematic Strategies LLC acquired 9,176 shares of Silicon Laboratories, Inc., valued at approximately $1,033,000, during the 1st quarter of 2023.
• Several large investors, including Westfield Capital Management and Nuveen LLC, also made significant investments in Silicon Laboratories, indicating growing institutional interest.
• Analysts have generally maintained a buy rating for Silicon Laboratories with price targets ranging from $150 to $160, while the stock is currently facing a slight decline of 0.5%.

Cubist Systematic Strategies LLC bought a new stake in Silicon Laboratories, Inc. (NASDAQ:SLAB - Free Report) in the 1st quarter, according to its most recent disclosure with the SEC. The fund bought 9,176 shares of the semiconductor company's stock, valued at approximately $1,033,000.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Cooper Financial Group boosted its stake in shares of Silicon Laboratories by 1.9% in the first quarter. Cooper Financial Group now owns 5,354 shares of the semiconductor company's stock valued at $603,000 after purchasing an additional 98 shares during the period. Oregon Public Employees Retirement Fund grew its stake in shares of Silicon Laboratories by 1.5% in the first quarter. Oregon Public Employees Retirement Fund now owns 6,668 shares of the semiconductor company's stock worth $751,000 after acquiring an additional 100 shares in the last quarter. State of Michigan Retirement System increased its position in shares of Silicon Laboratories by 1.3% during the first quarter. State of Michigan Retirement System now owns 7,797 shares of the semiconductor company's stock worth $878,000 after acquiring an additional 100 shares during the period. Securian Asset Management Inc. raised its stake in shares of Silicon Laboratories by 4.2% in the first quarter. Securian Asset Management Inc. now owns 2,498 shares of the semiconductor company's stock valued at $281,000 after acquiring an additional 100 shares in the last quarter. Finally, Louisiana State Employees Retirement System boosted its holdings in Silicon Laboratories by 1.1% in the first quarter. Louisiana State Employees Retirement System now owns 9,100 shares of the semiconductor company's stock valued at $1,024,000 after purchasing an additional 100 shares during the period.

Insider Buying and Selling

In other news, SVP Brandon Tolany sold 8,000 shares of the stock in a transaction that occurred on Friday, August 22nd. The stock was sold at an average price of $145.23, for a total value of $1,161,840.00. Following the completion of the sale, the senior vice president directly owned 62,328 shares of the company's stock, valued at approximately $9,051,895.44. This represents a 11.38% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders sold a total of 12,070 shares of company stock worth $1,703,472 over the last quarter. Insiders own 1.60% of the company's stock.

Silicon Laboratories Price Performance

Shares of NASDAQ:SLAB traded down $1.74 during trading on Friday, hitting $133.78. 149,984 shares of the company were exchanged, compared to its average volume of 245,531. The firm's 50 day moving average price is $135.76 and its 200-day moving average price is $126.31. Silicon Laboratories, Inc. has a 12-month low of $82.82 and a 12-month high of $160.00. The stock has a market capitalization of $4.39 billion, a P/E ratio of -41.55 and a beta of 1.52.

Silicon Laboratories (NASDAQ:SLAB - Get Free Report) last announced its quarterly earnings results on Tuesday, August 5th. The semiconductor company reported $0.11 EPS for the quarter, topping the consensus estimate of $0.09 by $0.02. Silicon Laboratories had a negative net margin of 14.88% and a negative return on equity of 7.21%. The firm had revenue of $192.85 million for the quarter, compared to analyst estimates of $192.57 million. During the same period last year, the business earned ($0.56) EPS. Silicon Laboratories's revenue for the quarter was up 32.6% compared to the same quarter last year. Silicon Laboratories has set its Q3 2025 guidance at 0.200-0.400 EPS. As a group, equities research analysts anticipate that Silicon Laboratories, Inc. will post -0.97 EPS for the current year.

Analyst Upgrades and Downgrades

SLAB has been the topic of several recent research reports. KeyCorp upped their price target on Silicon Laboratories from $160.00 to $180.00 and gave the stock an "overweight" rating in a report on Tuesday, July 8th. Susquehanna upped their target price on shares of Silicon Laboratories from $110.00 to $150.00 and gave the stock a "neutral" rating in a research note on Tuesday, July 22nd. Morgan Stanley reduced their target price 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. Stifel Nicolaus boosted their price target on shares of Silicon Laboratories from $144.00 to $160.00 and gave the stock a "buy" rating in a report on Friday, July 18th. Finally, Benchmark restated a "buy" rating and issued a $160.00 price objective on shares of Silicon Laboratories in a report on Tuesday, May 27th. Five analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat.com, Silicon Laboratories currently has an average rating of "Moderate Buy" and an average price target of $151.13.

Silicon Laboratories Company Profile

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.