Groupe la Francaise Reduces Stock Holdings in Silicon Laboratories, Inc. $SLAB

Key Points

• Groupe la Francaise cut its Silicon Laboratories holdings by 87.5% in the second quarter, selling 7,980 shares and retaining 1,140 shares valued at approximately $249,000.
• Other institutional investors made significant moves in SLAB, including California State Teachers Retirement System’s purchase of more than 8.28 million shares and BlackRock’s new stake valued at about $1.14 billion.
• Silicon Laboratories reported quarterly EPS of $0.71, beating estimates, while revenue rose 18.3% year over year to $228.19 million. Despite the earnings beat, analysts’ consensus rating is “Reduce,” with a target price of $218 versus the stock’s $220 opening price.

Groupe la Francaise lowered its holdings in Silicon Laboratories, Inc. (NASDAQ:SLAB - Free Report) by 87.5% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,140 shares of the semiconductor company's stock after selling 7,980 shares during the quarter. Groupe la Francaise's holdings in Silicon Laboratories were worth $249,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in SLAB. California State Teachers Retirement System grew its position in Silicon Laboratories by 21,812.4% during the 2nd quarter. California State Teachers Retirement System now owns 8,327,355 shares of the semiconductor company's stock worth $1,820,027,000 after purchasing an additional 8,289,352 shares during the period. BlackRock Inc. purchased a new stake in shares of Silicon Laboratories in the second quarter worth about $1,135,435,000. State Street Corp grew its holdings in Silicon Laboratories by 0.5% during the second quarter. State Street Corp now owns 1,517,813 shares of the semiconductor company's stock worth $223,665,000 after acquiring an additional 7,139 shares during the period. Invesco Ltd. grew its holdings in Silicon Laboratories by 12.9% during the fourth quarter. Invesco Ltd. now owns 852,493 shares of the semiconductor company's stock worth $111,421,000 after acquiring an additional 97,351 shares during the period. Finally, Geode Capital Management LLC raised its position in Silicon Laboratories by 1.0% during the fourth quarter. Geode Capital Management LLC now owns 824,771 shares of the semiconductor company's stock valued at $107,814,000 after acquiring an additional 7,921 shares in the last quarter.

Silicon Laboratories Stock Down 0.3%

Shares of Silicon Laboratories stock opened at $220.00 on Wednesday. Silicon Laboratories, Inc. has a twelve month low of $115.50 and a twelve month high of $222.49. The business has a 50-day moving average price of $218.38 and a 200 day moving average price of $214.63. The firm has a market cap of $7.34 billion, a PE ratio of -186.44 and a beta of 1.36.

Silicon Laboratories (NASDAQ:SLAB - Get Free Report) last issued 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 company had revenue of $228.19 million for the quarter, compared to the consensus estimate of $227.99 million. Silicon Laboratories had a negative return on equity of 0.66% and a negative net margin of 4.57%.Silicon Laboratories's revenue for the quarter was up 18.3% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.11 earnings per share. On average, sell-side analysts expect that Silicon Laboratories, Inc. will post 0.52 EPS for the current year.

Wall Street Analysts Forecast Growth

SLAB has been the subject of a number of analyst reports. Weiss Ratings reissued a "sell (d-)" rating on shares of Silicon Laboratories in a report on Wednesday, June 24th. Zacks Research cut shares of Silicon Laboratories from a "hold" rating to a "strong sell" rating in a research note on Tuesday, August 18th. Five research analysts have rated the stock with a Hold rating and two have issued a Sell rating to the company's stock. According to MarketBeat, the company has an average rating of "Reduce" and a consensus target price 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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