Kapitalo Investimentos Ltda Purchases New Shares in Silicon Laboratories, Inc. $SLAB

Key Points

• Kapitalo Investimentos purchased 10,867 Silicon Laboratories shares during the third quarter, valued at approximately $2.4 million. Several other institutional investors also initiated or increased positions.
• Silicon Laboratories reported quarterly revenue of $228.19 million, up 18.3% year over year, and EPS of $0.71, exceeding analysts’ expectations. However, the company posted a negative net margin and negative return on equity.
• SLAB shares opened at $221.10, near their 52-week high of $223.50. Analysts largely rate the stock as Hold, with a consensus “Reduce” rating and an average price target of $218.00.

Kapitalo Investimentos Ltda purchased a new stake in Silicon Laboratories, Inc. (NASDAQ:SLAB - Free Report) in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 10,867 shares of the semiconductor company's stock, valued at approximately $2,408,000.

Other institutional investors have also recently bought and sold shares of the company. Harbor Investment Advisory LLC acquired a new position in Silicon Laboratories during the 2nd quarter worth $28,000. Allworth Financial LP acquired a new stake in shares of Silicon Laboratories in the 2nd quarter valued at $42,000. EverSource Wealth Advisors LLC increased its stake in shares of Silicon Laboratories by 66.7% in the 1st quarter. EverSource Wealth Advisors LLC now owns 225 shares of the semiconductor company's stock valued at $47,000 after buying an additional 90 shares during the period. Public Employees Retirement System of Ohio acquired a new stake in shares of Silicon Laboratories in the 2nd quarter valued at $99,000. Finally, Nykredit A S acquired a new stake in shares of Silicon Laboratories in the 2nd quarter valued at $124,000.

Silicon Laboratories Price Performance

SLAB opened at $221.10 on Wednesday. The firm has a 50 day simple moving average of $220.31 and a 200 day simple moving average of $218.06. Silicon Laboratories, Inc. has a fifty-two week low of $115.50 and a fifty-two week high of $223.50. The company has a market cap of $7.38 billion, a price-to-earnings ratio of -187.37 and a beta of 1.33.

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

Analyst Upgrades and Downgrades

SLAB has been the topic of several research reports. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Silicon Laboratories in a research note on Monday, September 21st. Zacks Research upgraded Silicon Laboratories from a "strong sell" rating to a "hold" rating in a report on Monday, October 12th. Finally, Wall Street Zen upgraded Silicon Laboratories to a "hold" rating in a research report on Saturday, October 10th. Six research analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Reduce" and a consensus price target of $218.00.

About Silicon Laboratories

Silicon Laboratories Inc is a fabless semiconductor company that develops technologies for the Internet of Things (IoT). The company provides integrated circuits, wireless modules, software and development tools that help manufacturers connect, monitor and control devices used in residential, commercial and industrial applications.

Its product portfolio includes wireless system-on-chip devices and modules supporting technologies such as Bluetooth, Wi-Fi, Zigbee, Thread, Matter, Z-Wave and proprietary sub-GHz protocols.

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