Polar Asset Management Partners Inc. Makes New $1.04 Million Investment in Silicon Laboratories, Inc. $SLAB

Key Points

• Polar Asset Management Partners acquired 5,000 Silicon Laboratories shares in the first quarter, valued at approximately $1.04 million. Several other major institutional investors also increased their positions.
• Analyst sentiment remains cautious: seven analysts rate the stock Hold and one rates it Sell, giving Silicon Laboratories an average “Reduce” rating and a $177.50 price target versus its $217.29 share price.
• Silicon Laboratories beat quarterly earnings expectations with $0.53 in EPS versus $0.49 expected, while revenue rose 20.1% year over year to $213.5 million. CEO Robert Matthew Johnson subsequently sold shares worth approximately $1.74 million.

Polar Asset Management Partners Inc. acquired a new stake in Silicon Laboratories, Inc. (NASDAQ:SLAB - Free Report) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 5,000 shares of the semiconductor company's stock, valued at approximately $1,041,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Vanguard Group Inc. grew its stake in Silicon Laboratories by 3.1% during the 4th quarter. Vanguard Group Inc. now owns 3,992,407 shares of the semiconductor company's stock worth $521,808,000 after purchasing an additional 121,432 shares in the last quarter. State Street Corp raised its position in Silicon Laboratories by 0.5% in the 2nd quarter. State Street Corp now owns 1,517,813 shares of the semiconductor company's stock valued at $223,665,000 after purchasing an additional 7,139 shares in the last quarter. Invesco Ltd. boosted its stake in shares of Silicon Laboratories by 12.9% in the 4th quarter. Invesco Ltd. now owns 852,493 shares of the semiconductor company's stock valued at $111,421,000 after buying an additional 97,351 shares during the period. Geode Capital Management LLC boosted its stake in shares of Silicon Laboratories by 1.0% in the 4th quarter. Geode Capital Management LLC now owns 824,771 shares of the semiconductor company's stock valued at $107,814,000 after buying an additional 7,921 shares during the period. Finally, AQR Capital Management LLC grew its position in shares of Silicon Laboratories by 89.5% during the third quarter. AQR Capital Management LLC now owns 701,919 shares of the semiconductor company's stock worth $91,109,000 after buying an additional 331,427 shares in the last quarter.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings restated a "sell (d-)" rating on shares of Silicon Laboratories in a research note on Wednesday, June 24th. Seven research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Reduce" and an average price target of $177.50.

Silicon Laboratories Price Performance

Shares of NASDAQ SLAB opened at $217.29 on Tuesday. The company has a market capitalization of $7.17 billion, a price-to-earnings ratio of -142.02 and a beta of 1.36. The business has a 50-day moving average of $218.26 and a two-hundred day moving average of $203.40. Silicon Laboratories, Inc. has a 1 year low of $115.50 and a 1 year high of $220.90.

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

Insider Transactions at Silicon Laboratories

In related news, CEO Robert Matthew Johnson sold 8,024 shares of the company's stock in a transaction that occurred 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 completion of the transaction, the chief executive officer directly owned 80,519 shares of the company's stock, valued at $17,458,934.77. This represents a 9.06% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 1.60% of the stock is owned by company insiders.

Silicon Laboratories Company 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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