Lazard Asset Management LLC Makes New Investment in Silicon Laboratories, Inc. $SLAB

Key Points

• Lazard Asset Management initiated a Silicon Laboratories stake of 9,131 shares valued at approximately $1.9 million during the first quarter. Several other investment firms also increased or initiated smaller positions.
• Analyst sentiment remains cautious: seven analysts rate the stock “Hold” and one rates it “Sell,” resulting in an average “Reduce” rating and a consensus price target of $177.50.
• Silicon Laboratories reported quarterly adjusted EPS of $0.53, exceeding estimates, while revenue rose 20.1% year over year to $213.5 million. Shares opened at $218, near their 12-month high of $220.90, as the CEO separately sold about $1.74 million in stock.

Lazard Asset Management LLC acquired a new stake in shares of Silicon Laboratories, Inc. (NASDAQ:SLAB - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 9,131 shares of the semiconductor company's stock, valued at approximately $1,901,000.

A number of other hedge funds have also recently modified their holdings of the business. Kestra Advisory Services LLC bought a new position in shares of Silicon Laboratories in the 4th quarter worth about $32,000. Covestor Ltd boosted its stake in Silicon Laboratories by 260.3% during the fourth quarter. Covestor Ltd now owns 281 shares of the semiconductor company's stock worth $37,000 after acquiring an additional 203 shares in the last quarter. Kemnay Advisory Services Inc. purchased a new stake in Silicon Laboratories in the fourth quarter worth about $44,000. Jones Financial Companies Lllp grew its holdings in Silicon Laboratories by 121.4% in the first quarter. Jones Financial Companies Lllp now owns 496 shares of the semiconductor company's stock worth $56,000 after purchasing an additional 272 shares during the period. Finally, Global Retirement Partners LLC increased its stake in shares of Silicon Laboratories by 37.3% during the fourth quarter. Global Retirement Partners LLC now owns 497 shares of the semiconductor company's stock valued at $65,000 after purchasing an additional 135 shares in the last quarter.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reiterated a "sell (d-)" rating on shares of Silicon Laboratories in a report on Wednesday, June 24th. Seven equities research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Reduce" and a consensus price target of $177.50.

Silicon Laboratories Stock Up 0.2%

Shares of Silicon Laboratories stock opened at $218.00 on Tuesday. The company has a market cap of $7.19 billion, a price-to-earnings ratio of -142.48 and a beta of 1.37. The company's 50 day moving average is $218.27 and its 200 day moving average is $205.91. Silicon Laboratories, Inc. has a twelve month low of $115.50 and a twelve month high of $220.90.

Silicon Laboratories (NASDAQ:SLAB - Get Free Report) last posted its earnings results on Tuesday, May 5th. The semiconductor company reported $0.53 EPS for the quarter, topping analysts' consensus estimates of $0.49 by $0.04. The business had revenue of $213.50 million during the quarter, compared to the consensus estimate of $214.02 million. Silicon Laboratories had a negative net margin of 6.13% and a negative return on equity of 2.18%. The firm's revenue was up 20.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.08) EPS. Sell-side analysts expect that Silicon Laboratories, Inc. will post 0.74 EPS for the current fiscal year.

Insider Buying and Selling at Silicon Laboratories

In other news, CEO Robert Matthew Johnson sold 8,024 shares of the firm's stock in a transaction on Monday, May 18th. The stock was sold at an average price of $216.83, for a total value of $1,739,843.92. Following the transaction, the chief executive officer directly owned 80,519 shares in the company, valued at $17,458,934.77. This trade represents a 9.06% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. 1.60% of the stock is owned by insiders.

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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