Silicon Laboratories, Inc. $SLAB Shares Sold by Assenagon Asset Management S.A.

Key Points

• Assenagon Asset Management S.A. reduced its stake in Silicon Laboratories by 41.9% in Q4, selling 34,865 shares and leaving it with 48,324 shares worth about $6.32 million.
• Silicon Labs beat Q4 estimates with EPS $0.56 versus $0.54 and revenue of $208.21M (up 25.3% YoY), though the company still shows a negative net margin and analysts project a -0.97 EPS for the current year.
• Director Nina Richardson sold 1,355 shares at an average $149, the stock is trading near its 12‑month high (~$205.93), and the consensus analyst rating is "Hold" with an average target of $167.78.

Assenagon Asset Management S.A. lessened its holdings in shares of Silicon Laboratories, Inc. (NASDAQ:SLAB - Free Report) by 41.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 48,324 shares of the semiconductor company's stock after selling 34,865 shares during the period. Assenagon Asset Management S.A. owned 0.15% of Silicon Laboratories worth $6,316,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of SLAB. Diversified Trust Co. boosted its stake in Silicon Laboratories by 52.5% during the fourth quarter. Diversified Trust Co. now owns 5,676 shares of the semiconductor company's stock worth $742,000 after buying an additional 1,955 shares during the last quarter. Wealth Enhancement Advisory Services LLC increased its stake in shares of Silicon Laboratories by 3.4% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 4,284 shares of the semiconductor company's stock worth $560,000 after acquiring an additional 142 shares during the last quarter. Avior Wealth Management LLC increased its stake in shares of Silicon Laboratories by 36.0% in the 4th quarter. Avior Wealth Management LLC now owns 3,031 shares of the semiconductor company's stock worth $396,000 after acquiring an additional 803 shares during the last quarter. Tudor Investment Corp ET AL purchased a new position in shares of Silicon Laboratories during the 3rd quarter worth $4,718,000. Finally, Polar Asset Management Partners Inc. purchased a new stake in shares of Silicon Laboratories in the third quarter valued at about $314,000.

Silicon Laboratories Trading Down 0.4%

Silicon Laboratories stock opened at $205.93 on Friday. Silicon Laboratories, Inc. has a twelve month low of $82.82 and a twelve month high of $208.84. The stock's fifty day simple moving average is $190.58 and its 200-day simple moving average is $153.43. The firm has a market capitalization of $6.79 billion, a P/E ratio of -103.48 and a beta of 1.46.

Silicon Laboratories (NASDAQ:SLAB - Get Free Report) last released its earnings results on Wednesday, February 4th. The semiconductor company reported $0.56 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.54 by $0.02. Silicon Laboratories had a negative return on equity of 4.07% and a negative net margin of 8.27%.The firm had revenue of $208.21 million during the quarter, compared to analyst estimates of $207.63 million. During the same period last year, the business posted ($0.11) earnings per share. Silicon Laboratories's revenue was up 25.3% compared to the same quarter last year. Sell-side analysts predict that Silicon Laboratories, Inc. will post -0.97 earnings per share for the current year.

Insider Activity

In other news, Director Nina Richardson sold 1,355 shares of Silicon Laboratories stock in a transaction dated Tuesday, January 13th. The stock was sold at an average price of $149.00, for a total value of $201,895.00. Following the completion of the transaction, the director owned 8,543 shares in the company, valued at approximately $1,272,907. This trade represents a 13.69% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 1.60% of the company's stock.

Analyst Upgrades and Downgrades

SLAB has been the subject of a number of recent analyst reports. Benchmark downgraded shares of Silicon Laboratories from a "buy" rating to a "hold" rating in a report on Wednesday, February 4th. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Silicon Laboratories in a research note on Monday, December 29th. Needham & Company LLC cut Silicon Laboratories from a "buy" rating to a "hold" rating in a report on Wednesday, February 4th. KeyCorp downgraded Silicon Laboratories from an "overweight" rating to a "hold" rating in a research report on Wednesday, February 4th. Finally, Citigroup boosted their price objective on shares of Silicon Laboratories from $135.00 to $231.00 and gave the company a "neutral" rating in a report on Friday, February 6th. One analyst has rated the stock with a Buy rating, eight have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, Silicon Laboratories currently has an average rating of "Hold" and an average target price of $167.78.

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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