Silicon Laboratories, Inc. $SLAB Shares Sold by UBS Group AG

Key Points

• UBS Group AG reduced its stake in Silicon Laboratories by 22.1% in the fourth quarter, selling 73,136 shares and ending with 257,682 shares valued at about $33.7 million.
• Silicon Laboratories reported mixed quarterly results, beating EPS estimates at $0.53 versus $0.49 expected, while revenue of $213.5 million came in slightly below forecasts. Revenue still rose 20.1% year over year.
• Wall Street remains cautious on SLAB, with a consensus “Hold” rating and an average price target of $167.78, even after several analysts raised targets and one maintained a sell rating.

UBS Group AG trimmed its stake in shares of Silicon Laboratories, Inc. (NASDAQ:SLAB - Free Report) by 22.1% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 257,682 shares of the semiconductor company's stock after selling 73,136 shares during the quarter. UBS Group AG owned 0.78% of Silicon Laboratories worth $33,679,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of SLAB. AQR Capital Management LLC grew its stake in Silicon Laboratories by 1,970.7% during the 2nd quarter. AQR Capital Management LLC now owns 370,492 shares of the semiconductor company's stock worth $54,516,000 after purchasing an additional 352,600 shares in the last quarter. Westfield Capital Management Co. LP acquired a new position in Silicon Laboratories during the 3rd quarter worth $44,887,000. Squarepoint Ops LLC grew its stake in Silicon Laboratories by 113.6% during the 3rd quarter. Squarepoint Ops LLC now owns 358,016 shares of the semiconductor company's stock worth $46,947,000 after purchasing an additional 190,421 shares in the last quarter. Vanguard Group Inc. grew its stake in Silicon Laboratories by 3.1% during the 4th quarter. Vanguard Group Inc. now owns 3,992,407 shares of the semiconductor company's stock worth $521,808,000 after purchasing an additional 121,432 shares in the last quarter. Finally, Comerica Bank grew its stake in Silicon Laboratories by 1,172.6% during the 3rd quarter. Comerica Bank now owns 118,262 shares of the semiconductor company's stock worth $15,508,000 after purchasing an additional 108,969 shares in the last quarter.

Silicon Laboratories Stock Performance

NASDAQ:SLAB opened at $217.45 on Friday. Silicon Laboratories, Inc. has a 1 year low of $112.78 and a 1 year high of $218.68. The stock has a market cap of $7.17 billion, a P/E ratio of -142.12 and a beta of 1.40. The stock has a 50-day simple moving average of $208.98 and a 200-day simple moving average of $168.64.

Silicon Laboratories (NASDAQ:SLAB - Get Free Report) last posted its earnings results on Tuesday, May 12th. The semiconductor company reported $0.53 earnings per share for the quarter, beating the consensus estimate of $0.49 by $0.04. Silicon Laboratories had a negative return on equity of 2.18% and a negative net margin of 6.13%.The business had revenue of $213.50 million during the quarter, compared to the consensus estimate of $214.02 million. During the same period in the previous year, the business earned ($0.08) EPS. The business's quarterly revenue was up 20.1% on a year-over-year basis. On average, equities research analysts predict that Silicon Laboratories, Inc. will post 0.71 EPS for the current year.

Wall Street Analysts Forecast Growth

SLAB has been the subject of several analyst reports. Citigroup boosted their target price on Silicon Laboratories from $135.00 to $231.00 and gave the stock a "neutral" rating in a research note on Friday, February 6th. Weiss Ratings reissued a "sell (d-)" rating on shares of Silicon Laboratories in a research note on Friday, March 27th. Benchmark cut Silicon Laboratories from a "buy" rating to a "hold" rating in a research note on Wednesday, February 4th. KeyCorp cut Silicon Laboratories from an "overweight" rating to a "hold" rating in a research note on Wednesday, February 4th. Finally, Royal Bank Of Canada upped their price objective on Silicon Laboratories from $160.00 to $205.00 and gave the stock a "sector perform" rating in a research report on Thursday, February 5th. One investment analyst has rated the stock with a Buy rating, eight have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $167.78.

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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