Healthcare of Ontario Pension Plan Trust Fund Invests $35.84 Million in Silicon Laboratories, Inc. $SLAB

Key Points

• Healthcare of Ontario Pension Plan Trust Fund acquired 172,200 Silicon Laboratories shares worth approximately $35.84 million, representing a 0.52% stake.
• 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. The stock opened at $216.88, near its 52-week high.
• Analysts maintain a consensus “Reduce” rating with a $177.50 price target, and CEO Robert Matthew Johnson sold shares worth approximately $1.74 million.

Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in Silicon Laboratories, Inc. (NASDAQ:SLAB - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 172,200 shares of the semiconductor company's stock, valued at approximately $35,843,000. Healthcare of Ontario Pension Plan Trust Fund owned 0.52% of Silicon Laboratories at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Kestra Advisory Services LLC bought a new stake in Silicon Laboratories during the 4th quarter worth approximately $32,000. Covestor Ltd increased its position in Silicon Laboratories by 260.3% in the 4th 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 period. Kemnay Advisory Services Inc. bought a new position in shares of Silicon Laboratories during the fourth quarter valued at $44,000. Jones Financial Companies Lllp raised its stake 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 valued at $56,000 after acquiring an additional 272 shares during the last quarter. Finally, Global Retirement Partners LLC raised its stake in shares of Silicon Laboratories by 37.3% during the fourth quarter. Global Retirement Partners LLC now owns 497 shares of the semiconductor company's stock valued at $65,000 after acquiring an additional 135 shares during the last quarter.

Silicon Laboratories Price Performance

Silicon Laboratories stock opened at $216.88 on Monday. The stock's 50 day moving average is $218.24 and its 200 day moving average is $202.91. The firm has a market cap of $7.15 billion, a P/E ratio of -141.75 and a beta of 1.36. Silicon Laboratories, Inc. has a one year low of $115.50 and a one year high of $220.90.

Silicon Laboratories (NASDAQ:SLAB - Get Free Report) last announced its earnings results on Tuesday, May 5th. The semiconductor company reported $0.53 EPS for the quarter, beating the consensus estimate of $0.49 by $0.04. The business had revenue of $213.50 million for the quarter, compared to analysts' expectations 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 in the prior year, the business posted ($0.08) earnings per share. Equities analysts anticipate that Silicon Laboratories, Inc. will post 0.74 earnings per share for the current fiscal year.

Analyst Ratings Changes

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

Insider Activity

In related news, CEO Robert Matthew Johnson sold 8,024 shares of the company'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 sale, the chief executive officer owned 80,519 shares in the company, valued at $17,458,934.77. This represents a 9.06% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 1.60% of the stock is owned by corporate insiders.

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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