Gabelli Funds LLC Makes New Investment in Silicon Laboratories, Inc. $SLAB

Key Points

• Gabelli Funds LLC acquired 13,900 shares of Silicon Laboratories during the first quarter, valued at approximately $2.9 million. Other institutional investors also increased or initiated positions.
• Silicon Laboratories reported quarterly EPS of $0.53, beating estimates of $0.49, while revenue rose 20.1% year over year to $213.5 million. Despite the improvement, the company posted a negative net margin and return on equity.
• The stock opened at $217.25, near its 52-week high of $220.90, but analysts remain cautious: the consensus rating is “Reduce” with a target price of $177.50. CEO Robert Matthew Johnson also sold 8,024 shares worth about $1.74 million.

Gabelli Funds LLC acquired a new stake in Silicon Laboratories, Inc. (NASDAQ:SLAB - Free Report) during the first quarter, according to its most recent filing with the SEC. The firm acquired 13,900 shares of the semiconductor company's stock, valued at approximately $2,893,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Kestra Advisory Services LLC bought a new stake in shares of Silicon Laboratories during the fourth quarter worth $32,000. Covestor Ltd boosted its holdings in Silicon Laboratories by 260.3% in the fourth quarter. Covestor Ltd now owns 281 shares of the semiconductor company's stock valued at $37,000 after acquiring an additional 203 shares during the last quarter. Kemnay Advisory Services Inc. acquired a new stake in Silicon Laboratories in the fourth quarter worth about $44,000. Jones Financial Companies Lllp increased its position in Silicon Laboratories by 121.4% in 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 period. Finally, Global Retirement Partners LLC raised its holdings in Silicon Laboratories by 37.3% during the 4th quarter. Global Retirement Partners LLC now owns 497 shares of the semiconductor company's stock worth $65,000 after purchasing an additional 135 shares during the last quarter.

Insider Transactions at Silicon Laboratories

In other news, CEO Robert Matthew Johnson sold 8,024 shares of the business's stock in a transaction dated 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 completion of the transaction, the chief executive officer directly owned 80,519 shares in the company, valued at approximately $17,458,934.77. The trade was a 9.06% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 1.60% of the company's stock.

Silicon Laboratories Stock Performance

Shares of Silicon Laboratories stock opened at $217.25 on Wednesday. The firm has a fifty day moving average of $218.27 and a two-hundred day moving average of $203.91. The stock has a market capitalization of $7.16 billion, a price-to-earnings ratio of -141.99 and a beta of 1.36. 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 posted its quarterly earnings results on Tuesday, May 5th. The semiconductor company reported $0.53 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.49 by $0.04. The business had revenue of $213.50 million for the quarter, compared to analyst estimates of $214.02 million. Silicon Laboratories had a negative return on equity of 2.18% and a negative net margin of 6.13%.The firm's revenue was up 20.1% on a year-over-year basis. During the same period last year, the company earned ($0.08) EPS. As a group, research analysts forecast that Silicon Laboratories, Inc. will post 0.74 EPS for the current fiscal year.

Wall Street Analyst Weigh In

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

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.

Want to see what other hedge funds are holding SLAB? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Silicon Laboratories, Inc. (NASDAQ:SLAB - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.