Silicon Laboratories, Inc. $SLAB Shares Acquired by California State Teachers Retirement System

California State Teachers Retirement System lifted its position in Silicon Laboratories, Inc. (NASDAQ:SLAB - Free Report) by 0.3% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 38,101 shares of the semiconductor company's stock after buying an additional 98 shares during the quarter. California State Teachers Retirement System owned about 0.11% of Silicon Laboratories worth $8,327,355 as of its most recent filing with the SEC.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Nykredit A S acquired a new position in Silicon Laboratories during the second quarter valued at approximately $124,000. Headlands Technologies LLC bought a new position in Silicon Laboratories in the 2nd quarter valued at $3,022,000. Susquehanna Fundamental Investments LLC grew its position in Silicon Laboratories by 588.6% during the 2nd quarter. Susquehanna Fundamental Investments LLC now owns 17,698 shares of the semiconductor company's stock worth $3,868,000 after acquiring an additional 15,128 shares during the last quarter. Moore Capital Management LP grew its stake in shares of Silicon Laboratories by 30.0% in the 2nd quarter. Moore Capital Management LP now owns 26,000 shares of the semiconductor company's stock worth $5,683,000 after buying an additional 6,000 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in Silicon Laboratories by 1.4% during the second quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 80,508 shares of the semiconductor company's stock valued at $17,596,000 after buying an additional 1,099 shares during the last quarter.

Silicon Laboratories Stock Performance

SLAB traded up $0.41 on Tuesday, reaching $219.69. The company had a trading volume of 87,647 shares, compared to its average volume of 511,683. Silicon Laboratories, Inc. has a fifty-two week low of $115.50 and a fifty-two week high of $222.49. The company's fifty day moving average is $218.51 and its 200 day moving average is $215.06. The stock has a market cap of $7.33 billion, a P/E ratio of -186.14 and a beta of 1.36.

Silicon Laboratories (NASDAQ:SLAB - Get Free Report) last issued its quarterly earnings data 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 firm had revenue of $228.19 million during the quarter, compared to analyst estimates of $227.99 million. During the same period in the previous year, the company posted $0.11 EPS. The company's revenue for the quarter was up 18.3% on a year-over-year basis. On average, sell-side analysts expect that Silicon Laboratories, Inc. will post 0.52 EPS for the current year.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on SLAB. Weiss Ratings reiterated a "sell (d-)" rating on shares of Silicon Laboratories in a report on Wednesday, June 24th. Zacks Research cut shares of Silicon Laboratories from a "hold" rating to a "strong sell" rating in a research note on Tuesday, August 18th. Five investment analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the company's stock. According to MarketBeat, Silicon Laboratories has a consensus rating of "Reduce" and an average price target of $218.00.

Silicon Laboratories Company Profile

Silicon Laboratories Inc is a fabless semiconductor company focused on technologies that connect and control devices in the Internet of Things (IoT). The company develops integrated circuits, modules and software designed to help manufacturers build connected products for residential, commercial and industrial applications.

Its portfolio includes wireless system-on-chips, microcontrollers, connectivity modules and development tools supporting technologies such as Bluetooth, Wi-Fi, Zigbee, Thread, Matter and proprietary wireless protocols.

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