Hsbc Holdings PLC Takes $67.45 Million Position in Silicon Laboratories, Inc. $SLAB

Key Points

• HSBC Holdings PLC purchased 307,503 Silicon Laboratories shares during the second quarter, establishing a position worth approximately $67.45 million and representing about 0.92% of the company.
• Other institutional investors also adjusted their holdings, including BlackRock’s new position valued at roughly $1.14 billion and Assenagon Asset Management’s 395.2% stake increase.
• Analyst sentiment remains cautious: SLAB has an average “Reduce” rating and a $218 consensus price target, despite the company beating quarterly earnings estimates and reporting 18.3% year-over-year revenue growth.

Hsbc Holdings PLC purchased a new position in shares of Silicon Laboratories, Inc. (NASDAQ:SLAB - Free Report) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 307,503 shares of the semiconductor company's stock, valued at approximately $67,455,000. Hsbc Holdings PLC owned about 0.92% of Silicon Laboratories as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also modified their holdings of the company. California State Teachers Retirement System raised its position in shares of Silicon Laboratories by 21.5% during the 1st quarter. California State Teachers Retirement System now owns 38,003 shares of the semiconductor company's stock worth $7,910,000 after buying an additional 6,737 shares in the last quarter. Vanguard Group Inc. boosted its holdings in shares of Silicon Laboratories by 3.1% in the fourth quarter. Vanguard Group Inc. now owns 3,992,407 shares of the semiconductor company's stock valued at $521,808,000 after acquiring an additional 121,432 shares in the last quarter. BlackRock Inc. acquired a new position in shares of Silicon Laboratories during the second quarter valued at approximately $1,135,435,000. Assenagon Asset Management S.A. increased its stake in shares of Silicon Laboratories by 395.2% during the first quarter. Assenagon Asset Management S.A. now owns 239,318 shares of the semiconductor company's stock valued at $49,814,000 after acquiring an additional 190,994 shares during the period. Finally, SEB Asset Management AB bought a new stake in Silicon Laboratories during the first quarter worth approximately $1,562,000.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on SLAB. Weiss Ratings restated a "sell (d-)" rating on shares of Silicon Laboratories in a research report on Wednesday, June 24th. Zacks Research lowered Silicon Laboratories from a "hold" rating to a "strong sell" rating in a report on Tuesday, August 18th. Five analysts have rated the stock with a Hold rating and two have given a Sell rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Reduce" and a consensus price target of $218.00.

Silicon Laboratories Price Performance

Shares of SLAB opened at $218.83 on Thursday. The firm's 50 day moving average is $218.23 and its 200-day moving average is $213.79. Silicon Laboratories, Inc. has a 12-month low of $115.50 and a 12-month high of $220.90. The stock has a market capitalization of $7.30 billion, a P/E ratio of -185.45 and a beta of 1.37.

Silicon Laboratories (NASDAQ:SLAB - Get Free Report) last released its earnings results on Tuesday, August 11th. The semiconductor company reported $0.71 EPS for the quarter, beating the consensus estimate of $0.69 by $0.02. The business had revenue of $228.19 million during the quarter, compared to analyst estimates 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 quarterly revenue was up 18.3% on a year-over-year basis. During the same period in the prior year, the business earned $0.11 earnings per share. As a group, equities research analysts forecast that Silicon Laboratories, Inc. will post 0.52 EPS for the current fiscal year.

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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