Hsbc Holdings PLC Grows Position in Silicon Laboratories, Inc. $SLAB

Key Points

• HSBC Holdings increased its Silicon Laboratories stake by 43.6% in the second quarter, adding 93,432 shares to own 307,503 shares valued at approximately $67.5 million, or 0.92% of the company.
• Silicon Laboratories reported quarterly EPS of $0.71, beating estimates by $0.02, while revenue rose 18.3% year over year to $228.19 million. Despite the growth, the company posted a negative net margin of 4.57%.
• Analyst sentiment remains cautious: the stock has an average “Reduce” rating and a $218 target price, with two analysts rating it a Sell and Zacks Research recently downgrading it to “strong sell.”

Hsbc Holdings PLC increased its stake in shares of Silicon Laboratories, Inc. (NASDAQ:SLAB - Free Report) by 43.6% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 307,503 shares of the semiconductor company's stock after acquiring an additional 93,432 shares during the quarter. Hsbc Holdings PLC owned about 0.92% of Silicon Laboratories worth $67,455,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently bought and sold shares of SLAB. Harbor Investment Advisory LLC purchased a new position in shares of Silicon Laboratories during the second quarter valued at about $28,000. Allworth Financial LP bought a new stake in shares of Silicon Laboratories in the second quarter worth about $42,000. EverSource Wealth Advisors LLC lifted its position in shares of Silicon Laboratories by 66.7% in the first quarter. EverSource Wealth Advisors LLC now owns 225 shares of the semiconductor company's stock worth $47,000 after buying an additional 90 shares in the last quarter. Kestra Advisory Services LLC purchased a new stake in shares of Silicon Laboratories in the fourth quarter worth about $32,000. Finally, Covestor Ltd boosted its stake in Silicon Laboratories by 260.3% during the fourth quarter. Covestor Ltd now owns 281 shares of the semiconductor company's stock valued at $37,000 after buying an additional 203 shares during the last quarter.

Silicon Laboratories Price Performance

NASDAQ SLAB opened at $220.58 on Tuesday. The company has a fifty day moving average of $218.35 and a two-hundred day moving average of $214.53. The firm has a market capitalization of $7.36 billion, a price-to-earnings ratio of -186.93 and a beta of 1.36. Silicon Laboratories, Inc. has a 52 week low of $115.50 and a 52 week high of $222.49.

Silicon Laboratories (NASDAQ:SLAB - Get Free Report) last announced its earnings results on Tuesday, August 11th. The semiconductor company reported $0.71 earnings per share for the quarter, beating the consensus estimate of $0.69 by $0.02. The business had revenue of $228.19 million for the quarter, compared to the consensus estimate of $227.99 million. Silicon Laboratories had a negative net margin of 4.57% and a negative return on equity of 0.66%. The business's revenue for the quarter was up 18.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.11 earnings per share. Equities research analysts anticipate that Silicon Laboratories, Inc. will post 0.52 EPS for the current year.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the company. Zacks Research cut Silicon Laboratories from a "hold" rating to a "strong sell" rating in a report on Tuesday, August 18th. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Silicon Laboratories in a report on Wednesday, June 24th. Five investment analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Reduce" and an average target price of $218.00.

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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