Silicon Laboratories, Inc. $SLAB Shares Purchased by Commonwealth of Pennsylvania Public School Empls Retrmt SYS

Key Points

• Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its Silicon Laboratories stake by 122.1% in the first quarter, buying 10,036 additional shares and bringing its holdings to 18,257 shares worth about $3.8 million.
• Silicon Laboratories reported Q1 earnings of $0.53 per share, beating analyst estimates of $0.49, while revenue rose 20.1% year over year to $213.5 million.
• The stock was trading near its high at $218.19, and Wall Street sentiment remains cautious with a “Hold” consensus rating and an average price target of $170.

Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its stake in shares of Silicon Laboratories, Inc. (NASDAQ:SLAB - Free Report) by 122.1% during the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 18,257 shares of the semiconductor company's stock after buying an additional 10,036 shares during the quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS owned about 0.06% of Silicon Laboratories worth $3,800,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Kestra Advisory Services LLC acquired a new stake in shares of Silicon Laboratories in the 4th quarter worth $32,000. Covestor Ltd raised its holdings in shares of Silicon Laboratories by 260.3% during the 4th quarter. Covestor Ltd now owns 281 shares of the semiconductor company's stock worth $37,000 after acquiring an additional 203 shares during the period. Kemnay Advisory Services Inc. acquired a new position in shares of Silicon Laboratories during the 4th quarter valued at about $44,000. Jones Financial Companies Lllp boosted its position in shares of Silicon Laboratories by 121.4% during the 1st quarter. Jones Financial Companies Lllp now owns 496 shares of the semiconductor company's stock valued at $56,000 after acquiring an additional 272 shares during the last quarter. Finally, Global Retirement Partners LLC grew its holdings 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 valued at $65,000 after purchasing an additional 135 shares during the period.

Silicon Laboratories Trading Up 0.1%

Shares of NASDAQ:SLAB opened at $218.19 on Thursday. The company has a market capitalization of $7.20 billion, a price-to-earnings ratio of -142.61 and a beta of 1.36. Silicon Laboratories, Inc. has a 12-month low of $115.50 and a 12-month high of $220.90. The business has a 50-day moving average price of $218.21 and a 200 day moving average price of $198.76.

Silicon Laboratories (NASDAQ:SLAB - Get Free Report) last announced its earnings results on Tuesday, May 5th. The semiconductor company reported $0.53 earnings per share for the quarter, topping 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 company had revenue of $213.50 million during the quarter, compared to analyst estimates of $214.02 million. During the same quarter last year, the firm posted ($0.08) earnings per share. Silicon Laboratories's revenue was up 20.1% compared to the same quarter last year. As a group, equities research analysts predict that Silicon Laboratories, Inc. will post 0.74 earnings per share 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 shares were sold at an average price of $216.83, for a total transaction of $1,739,843.92. Following the completion of the transaction, the chief executive officer 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 position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 1.60% of the company's stock.

Wall Street Analyst Weigh In

Separately, Weiss Ratings restated a "sell (d-)" rating on shares of Silicon Laboratories in a research report on Wednesday, June 24th. One research analyst has rated the stock with a Buy rating, eight have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $170.00.

Silicon Laboratories 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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