SEB Asset Management AB Purchases Shares of 7,504 Silicon Laboratories, Inc. $SLAB

Key Points

• SEB Asset Management AB disclosed a new first-quarter stake in Silicon Laboratories, buying 7,504 shares worth about $1.56 million.
• Other institutional investors also adjusted holdings, with several adding to their positions, including the Swiss National Bank, CalPERS, and Principal Financial Group.
• Wall Street sentiment remains cautious: Weiss Ratings reiterated a “sell (d-)” rating, and the consensus analyst view is “Reduce” with a target price of $177.50, even as the stock recently traded near its 52-week high.

SEB Asset Management AB acquired a new stake in shares of Silicon Laboratories, Inc. (NASDAQ:SLAB - Free Report) during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 7,504 shares of the semiconductor company's stock, valued at approximately $1,562,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Swiss National Bank increased its position in Silicon Laboratories by 0.3% in the 1st quarter. Swiss National Bank now owns 65,000 shares of the semiconductor company's stock valued at $13,530,000 after buying an additional 200 shares in the last quarter. California Public Employees Retirement System raised its position in shares of Silicon Laboratories by 6.8% during the first quarter. California Public Employees Retirement System now owns 64,276 shares of the semiconductor company's stock worth $13,379,000 after purchasing an additional 4,091 shares during the period. State of Michigan Retirement System raised its position in shares of Silicon Laboratories by 1.3% during the first quarter. State of Michigan Retirement System now owns 7,897 shares of the semiconductor company's stock worth $1,644,000 after purchasing an additional 100 shares during the period. Principal Financial Group Inc. lifted its holdings in shares of Silicon Laboratories by 4.6% in the 1st quarter. Principal Financial Group Inc. now owns 75,009 shares of the semiconductor company's stock worth $15,613,000 after purchasing an additional 3,332 shares in the last quarter. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its stake in Silicon Laboratories by 122.1% during the 1st quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 18,257 shares of the semiconductor company's stock valued at $3,800,000 after purchasing an additional 10,036 shares in the last quarter.

Wall Street Analyst Weigh In

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

Silicon Laboratories Stock Performance

Silicon Laboratories stock opened at $216.76 on Friday. Silicon Laboratories, Inc. has a fifty-two week low of $115.50 and a fifty-two week high of $220.90. The firm's 50-day simple moving average is $218.24 and its 200 day simple moving average is $202.36. The stock has a market cap of $7.15 billion, a PE ratio of -141.67 and a beta of 1.36.

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

Insider Activity at Silicon Laboratories

In related news, CEO Robert Matthew Johnson sold 8,024 shares of the stock in a transaction that occurred on Monday, May 18th. The stock was sold at an average price of $216.83, for a total transaction of $1,739,843.92. Following the completion of the sale, the chief executive officer directly owned 80,519 shares of the company's stock, valued at approximately $17,458,934.77. This trade represents a 9.06% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 1.60% of the company's stock.

About Silicon Laboratories

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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