First Trust Advisors LP Buys 6,844 Shares of Silicon Laboratories, Inc. $SLAB

Key Points

• First Trust Advisors LP increased its Silicon Laboratories stake by 22.1% in the first quarter, purchasing 6,844 additional shares and bringing its holdings to 37,839 shares valued at approximately $7.9 million.
• Analysts maintain a cautious view, with seven Hold ratings and one Sell rating producing a consensus “Reduce” rating and an average price target of $177.50.
• Silicon Labs exceeded first-quarter earnings expectations with EPS of $0.53 versus the $0.49 consensus, while revenue rose 20.1% year over year to $213.5 million. Its CEO later sold 8,024 shares at an average price of $216.83.

First Trust Advisors LP raised its stake in shares of Silicon Laboratories, Inc. (NASDAQ:SLAB - Free Report) by 22.1% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 37,839 shares of the semiconductor company's stock after purchasing an additional 6,844 shares during the period. First Trust Advisors LP owned 0.11% of Silicon Laboratories worth $7,876,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the company. PNC Financial Services Group Inc. raised its holdings in Silicon Laboratories by 21.2% in the 1st quarter. PNC Financial Services Group Inc. now owns 1,357 shares of the semiconductor company's stock worth $282,000 after acquiring an additional 237 shares during the period. Kapitalo Investimentos Ltda bought a new position in shares of Silicon Laboratories in the first quarter worth about $1,429,000. Parallel Advisors LLC lifted its position in shares of Silicon Laboratories by 18.4% during the 1st quarter. Parallel Advisors LLC now owns 1,276 shares of the semiconductor company's stock worth $266,000 after purchasing an additional 198 shares during the last quarter. SEB Asset Management AB acquired a new position in shares of Silicon Laboratories during the 1st quarter worth about $1,562,000. Finally, Swiss National Bank boosted its stake in Silicon Laboratories by 0.3% during the 1st quarter. Swiss National Bank now owns 65,000 shares of the semiconductor company's stock valued at $13,530,000 after purchasing an additional 200 shares during the period.

Analyst Ratings Changes

Separately, Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Silicon Laboratories in a research report on Wednesday, June 24th. Seven research analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, Silicon Laboratories presently has a consensus rating of "Reduce" and a consensus price target of $177.50.

Silicon Laboratories Stock Performance

Shares of NASDAQ SLAB opened at $217.50 on Friday. The stock has a market cap of $7.17 billion, a PE ratio of -142.16 and a beta of 1.36. The business has a fifty day moving average of $218.26 and a two-hundred day moving average of $204.98. Silicon Laboratories, Inc. has a 52-week low of $115.50 and a 52-week high of $220.90.

Silicon Laboratories (NASDAQ:SLAB - Get Free Report) last released its quarterly earnings results on Tuesday, May 5th. The semiconductor company reported $0.53 EPS for the quarter, topping analysts' consensus estimates of $0.49 by $0.04. Silicon Laboratories had a negative return on equity of 2.18% and a negative net margin of 6.13%.The business had revenue of $213.50 million for the quarter, compared to analyst estimates of $214.02 million. During the same period in the prior year, the company earned ($0.08) EPS. Silicon Laboratories's revenue for the quarter was up 20.1% on a year-over-year basis. Analysts predict that Silicon Laboratories, Inc. will post 0.74 earnings per share for the current year.

Insider Activity at Silicon Laboratories

In other news, CEO Robert Matthew Johnson sold 8,024 shares of the stock in a transaction on Monday, May 18th. The stock was sold at an average price of $216.83, for a total transaction of $1,739,843.92. Following the sale, the chief executive officer owned 80,519 shares in the company, valued at approximately $17,458,934.77. This represents a 9.06% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 1.60% of the company's stock.

Silicon Laboratories 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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