Arrowstreet Capital Limited Partnership raised its stake in shares of Silicon Laboratories, Inc. (NASDAQ:SLAB - Free Report) by 226.5% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 71,830 shares of the semiconductor company's stock after purchasing an additional 49,829 shares during the period. Arrowstreet Capital Limited Partnership owned 0.22% of Silicon Laboratories worth $14,951,000 at the end of the most recent quarter.
Several other hedge funds have also recently modified their holdings of the stock. Kestra Advisory Services LLC acquired a new stake in Silicon Laboratories during the 4th quarter worth $32,000. Covestor Ltd raised its position in shares of Silicon Laboratories by 260.3% in the fourth quarter. Covestor Ltd now owns 281 shares of the semiconductor company's stock valued at $37,000 after buying an additional 203 shares during the last quarter. Kemnay Advisory Services Inc. acquired a new stake in shares of Silicon Laboratories in the fourth quarter valued at about $44,000. Jones Financial Companies Lllp lifted its stake in shares of 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 buying an additional 272 shares in the last quarter. Finally, Global Retirement Partners LLC lifted its stake in shares of Silicon Laboratories by 37.3% in the fourth quarter. Global Retirement Partners LLC now owns 497 shares of the semiconductor company's stock worth $65,000 after buying an additional 135 shares in the last quarter.
Silicon Laboratories Price Performance
Shares of SLAB stock opened at $216.93 on Friday. The firm has a market cap of $7.15 billion, a PE ratio of -141.78 and a beta of 1.36. The company has a 50-day moving average of $218.26 and a two-hundred day moving average of $204.90. 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 results on Tuesday, May 5th. The semiconductor company reported $0.53 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.49 by $0.04. The business had revenue of $213.50 million for 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 business's revenue was up 20.1% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.08) EPS. Sell-side analysts anticipate 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 business's stock in a transaction that occurred on 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 in the company, valued at approximately $17,458,934.77. The trade was a 9.06% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 1.60% of the company's stock.
Wall Street Analysts Forecast Growth
Separately, Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Silicon Laboratories in a research note on Wednesday, June 24th. Seven investment analysts have rated the stock with a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Reduce" and a consensus target price of $177.50.
Get Our Latest Stock Analysis on Silicon Laboratories
About Silicon Laboratories
(
Free Report)
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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