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

Key Points

• California State Teachers Retirement System increased its Silicon Laboratories stake by 21.5% in the first quarter, acquiring 6,737 additional shares and holding 38,003 shares worth approximately $7.91 million.
• Silicon Laboratories reported quarterly EPS of $0.53, surpassing estimates of $0.49, while revenue rose 20.1% year over year to $213.5 million. Shares opened at $218.39, near their 12-month high of $220.90.
• Analyst sentiment remains cautious, with six Hold ratings and one Sell rating producing a consensus “Reduce” rating and an average target price of $193.33; CEO Robert Matthew Johnson also sold 8,024 shares for about $1.74 million.

California State Teachers Retirement System lifted its stake in shares of Silicon Laboratories, Inc. (NASDAQ:SLAB - Free Report) by 21.5% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 38,003 shares of the semiconductor company's stock after buying an additional 6,737 shares during the period. California State Teachers Retirement System owned approximately 0.12% of Silicon Laboratories worth $7,910,000 at the end of the most recent quarter.

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

Silicon Laboratories Trading Up 0.2%

Shares of SLAB stock opened at $218.39 on Wednesday. The company has a market capitalization of $7.20 billion, a P/E ratio of -142.74 and a beta of 1.37. The business's 50 day moving average is $218.25 and its two-hundred day moving average is $206.40. Silicon Laboratories, Inc. has a 12-month low of $115.50 and a 12-month high of $220.90.

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 analysts' consensus estimates of $0.49 by $0.04. The business had revenue of $213.50 million during the quarter, compared to analysts' expectations of $214.02 million. Silicon Laboratories had a negative return on equity of 2.18% and a negative net margin of 6.13%.The business's revenue was up 20.1% compared to the same quarter last year. During the same period in the previous year, the business earned ($0.08) earnings per share. On average, research analysts predict that Silicon Laboratories, Inc. will post 0.74 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reissued a "sell (d-)" rating on shares of Silicon Laboratories in a report on Wednesday, June 24th. Six investment 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.com, Silicon Laboratories has a consensus rating of "Reduce" and a consensus target price of $193.33.

Insider Activity

In other news, CEO Robert Matthew Johnson sold 8,024 shares of the business's stock in a transaction dated Monday, May 18th. The shares were 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 owned 80,519 shares of the company's stock, valued at $17,458,934.77. The trade was a 9.06% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 1.60% of the stock is currently owned by company insiders.

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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