Jupiter Topco LLC Invests $3.34 Million in Silicon Laboratories, Inc. $SLAB

Key Points

• Jupiter Topco LLC acquired 15,286 shares of Silicon Laboratories during the second quarter, valued at approximately $3.34 million. Several other institutional investors also initiated sizable positions.
• Wall Street sentiment remains cautious: five analysts rate SLAB as a hold and two as a sell, resulting in an average “Reduce” rating and a $218 price target.
• Silicon Laboratories reported quarterly revenue of $228.19 million and adjusted EPS of $0.71, exceeding expectations, while revenue increased 18.3% year over year. Shares opened at $219.12, near their 52-week high.

Jupiter Topco LLC acquired a new position in Silicon Laboratories, Inc. (NASDAQ:SLAB - Free Report) during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 15,286 shares of the semiconductor company's stock, valued at approximately $3,340,000.

Other hedge funds have also bought and sold shares of the company. Kintayl Capital LP purchased a new position in Silicon Laboratories in the 2nd quarter worth approximately $11,556,000. Hsbc Holdings PLC purchased a new stake in shares of Silicon Laboratories during the 2nd quarter valued at $67,455,000. Legal & General Group Plc bought a new stake in shares of Silicon Laboratories during the 2nd quarter worth $11,067,000. The Manufacturers Life Insurance Company bought a new stake in shares of Silicon Laboratories during the 2nd quarter worth $5,431,000. Finally, S Squared Technology LLC purchased a new position in Silicon Laboratories in the second quarter worth $2,345,149.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on SLAB shares. Weiss Ratings restated a "sell (d-)" rating on shares of Silicon Laboratories in a research report on Wednesday, June 24th. Zacks Research cut 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 assigned a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Reduce" and an average target price of $218.00.

Silicon Laboratories Price Performance

Shares of SLAB stock opened at $219.12 on Wednesday. The business has a 50-day moving average of $218.18 and a 200 day moving average of $214.14. Silicon Laboratories, Inc. has a 1-year low of $115.50 and a 1-year high of $220.90. The stock has a market capitalization of $7.31 billion, a PE ratio of -185.69 and a beta of 1.36.

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