Invesco Ltd. Raises Holdings in Silicon Laboratories, Inc. (NASDAQ:SLAB)

Key Points

• Invesco Ltd. increased its holdings in Silicon Laboratories by 42.7% in the first quarter, acquiring an additional 254,348 shares, bringing its total ownership to approximately 2.62% of the company valued at about $95.7 million.
• Silicon Laboratories reported a **positive earnings surprise** in its latest quarterly results, posting $0.11 earnings per share, above the analysts' expected $0.09, with revenues also beating estimates at $192.85 million.
• Wall Street analysts have a consensus target price of $151.13 for Silicon Laboratories, with multiple firms issuing buy ratings and increasing their price targets recently, reflecting a generally optimistic outlook.

Invesco Ltd. raised its holdings in shares of Silicon Laboratories, Inc. (NASDAQ:SLAB - Free Report) by 42.7% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 849,730 shares of the semiconductor company's stock after purchasing an additional 254,348 shares during the period. Invesco Ltd. owned approximately 2.62% of Silicon Laboratories worth $95,654,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Skandinaviska Enskilda Banken AB publ purchased a new stake in Silicon Laboratories during the 1st quarter valued at $34,000. UMB Bank n.a. boosted its stake in Silicon Laboratories by 111.3% during the 1st quarter. UMB Bank n.a. now owns 336 shares of the semiconductor company's stock valued at $38,000 after purchasing an additional 177 shares during the last quarter. Parallel Advisors LLC boosted its stake in Silicon Laboratories by 143.7% during the 1st quarter. Parallel Advisors LLC now owns 463 shares of the semiconductor company's stock valued at $52,000 after purchasing an additional 273 shares during the last quarter. Larson Financial Group LLC purchased a new stake in Silicon Laboratories during the 1st quarter valued at $55,000. Finally, TD Private Client Wealth LLC boosted its stake in Silicon Laboratories by 53.6% during the 1st quarter. TD Private Client Wealth LLC now owns 914 shares of the semiconductor company's stock valued at $103,000 after purchasing an additional 319 shares during the last quarter.

Silicon Laboratories Trading Down 1.9%

Shares of SLAB stock opened at $130.67 on Friday. Silicon Laboratories, Inc. has a 12-month low of $82.82 and a 12-month high of $160.00. The stock's 50-day moving average price is $139.31 and its 200-day moving average price is $127.92. The stock has a market capitalization of $4.29 billion, a price-to-earnings ratio of -40.58 and a beta of 1.48.

Silicon Laboratories (NASDAQ:SLAB - Get Free Report) last issued its quarterly earnings data on Tuesday, August 5th. The semiconductor company reported $0.11 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.09 by $0.02. The business had revenue of $192.85 million for the quarter, compared to the consensus estimate of $192.57 million. Silicon Laboratories had a negative return on equity of 7.21% and a negative net margin of 14.88%. The company's quarterly revenue was up 32.6% compared to the same quarter last year. During the same period in the prior year, the business posted ($0.56) earnings per share. As a group, research analysts predict that Silicon Laboratories, Inc. will post -0.97 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the company. KeyCorp raised their price target on Silicon Laboratories from $160.00 to $180.00 and gave the stock an "overweight" rating in a research note on Tuesday, July 8th. Morgan Stanley dropped their price target on Silicon Laboratories from $157.00 to $144.00 and set an "equal weight" rating on the stock in a research note on Wednesday, August 6th. Wall Street Zen upgraded Silicon Laboratories from a "sell" rating to a "hold" rating in a research note on Wednesday, May 14th. Benchmark restated a "buy" rating and issued a $160.00 price target on shares of Silicon Laboratories in a research note on Tuesday, May 27th. Finally, Needham & Company LLC restated a "buy" rating and issued a $150.00 price target on shares of Silicon Laboratories in a research note on Wednesday, May 14th. Four equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $151.13.

About Silicon Laboratories

Silicon Laboratories Inc, a fabless semiconductor company, provides various analog-intensive mixed-signal solutions in the United States, China, Taiwan, and internationally. The company's products include wireless microcontrollers and sensor products. Its products are used in various electronic products in a range of applications for the industrial Internet of Things (IoT), including industrial automation and control, smart buildings, access control, HVAC control, and industrial wearables and power tools; smart cities applications, such as smart metering, smart street lighting, renewable energy, electric vehicle supply equipment, and smart agriculture; commercial IoT applications, including smart lighting, asset tracking, electronic shelf labels, theft protection, and enterprise access points; smart home applications, comprising home automation/security systems, smart speakers, smart lighting, HVAC control, smart cameras, smart appliances, smart home sensing, smart locks, and window/blind controls; and connected health applications, including diabetes management, consumer health and fitness, elderly care, patient monitoring, and activity tracking; as well as in commercial building automation, consumer electronics, and medical instrumentation.

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 and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.