Hsbc Holdings PLC Raises Holdings in Silicon Laboratories, Inc. $SLAB

Key Points

• HSBC Holdings PLC increased its stake in Silicon Laboratories by 74.3% in the fourth quarter, ending with 11,558 shares valued at about $1.52 million.
• Several other large investors also boosted their positions, including Thrivent Financial, AQR Capital Management, and Westfield Capital, signaling continued institutional interest in SLAB.
• CEO Robert Matthew Johnson sold 8,024 shares in May, while analysts currently rate the stock a Hold on average with a consensus price target of $170.

Hsbc Holdings PLC increased its stake in shares of Silicon Laboratories, Inc. (NASDAQ:SLAB - Free Report) by 74.3% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 11,558 shares of the semiconductor company's stock after purchasing an additional 4,927 shares during the period. Hsbc Holdings PLC's holdings in Silicon Laboratories were worth $1,516,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of SLAB. Norges Bank acquired a new position in shares of Silicon Laboratories in the fourth quarter worth $56,008,000. Thrivent Financial for Lutherans boosted its stake in shares of Silicon Laboratories by 312.9% during the fourth quarter. Thrivent Financial for Lutherans now owns 467,958 shares of the semiconductor company's stock valued at $61,162,000 after acquiring an additional 354,621 shares during the last quarter. AQR Capital Management LLC increased its position in Silicon Laboratories by 1,970.7% during the 2nd quarter. AQR Capital Management LLC now owns 370,492 shares of the semiconductor company's stock worth $54,516,000 after purchasing an additional 352,600 shares in the last quarter. Westfield Capital Management Co. LP raised its stake in Silicon Laboratories by 59.9% in the 4th quarter. Westfield Capital Management Co. LP now owns 547,403 shares of the semiconductor company's stock valued at $71,546,000 after purchasing an additional 205,093 shares during the last quarter. Finally, Squarepoint Ops LLC raised its stake in Silicon Laboratories by 113.6% in the 3rd quarter. Squarepoint Ops LLC now owns 358,016 shares of the semiconductor company's stock valued at $46,947,000 after purchasing an additional 190,421 shares during the last quarter.

Insider Activity

In related news, CEO Robert Matthew Johnson sold 8,024 shares of the firm's stock in a transaction that occurred on Monday, May 18th. The shares were sold at an average price of $216.83, for a total value of $1,739,843.92. Following the sale, the chief executive officer directly owned 80,519 shares of the company's stock, valued at approximately $17,458,934.77. This trade represents a 9.06% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 1.60% of the company's stock.

Analysts Set New Price Targets

Separately, Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Silicon Laboratories in a research note on Wednesday, June 24th. One research analyst has rated the stock with a Buy rating, eight have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, Silicon Laboratories has a consensus rating of "Hold" and an average price target of $170.00.

Silicon Laboratories Stock Down 0.0%

Shares of SLAB stock traded down $0.05 during mid-day trading on Friday, hitting $218.63. 384,428 shares of the company's stock were exchanged, compared to its average volume of 505,684. The stock has a market cap of $7.21 billion, a price-to-earnings ratio of -142.90 and a beta of 1.36. Silicon Laboratories, Inc. has a fifty-two week low of $115.50 and a fifty-two week high of $220.90. The stock has a 50-day simple moving average of $218.16 and a two-hundred day simple moving average of $196.56.

Silicon Laboratories (NASDAQ:SLAB - Get Free Report) last released 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. Silicon Laboratories had a negative return on equity of 2.18% and a negative net margin of 6.13%.The firm had revenue of $213.50 million during the quarter, compared to analyst estimates of $214.02 million. During the same period in the prior year, the firm posted ($0.08) earnings per share. The business's quarterly revenue was up 20.1% compared to the same quarter last year. As a group, analysts anticipate that Silicon Laboratories, Inc. will post 0.74 earnings per share for the current fiscal year.

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.