Silicon Laboratories, Inc. $SLAB Stake Boosted by Hsbc Holdings PLC

Key Points

• Hsbc Holdings PLC sharply boosted its Silicon Laboratories stake by 1,752.1% in the first quarter, ending with 214,071 shares valued at about $44.4 million.
• Other institutional investors also increased holdings, including Millennium Management and AQR Capital Management, while analysts overall remain cautious with an average rating of "Reduce" and a target price of $172.
• Insider activity showed CEO Robert Matthew Johnson sold 8,024 shares in May, and the company recently reported quarterly earnings that beat EPS estimates while revenue rose 20.1% year over year.

Hsbc Holdings PLC grew its position in shares of Silicon Laboratories, Inc. (NASDAQ:SLAB - Free Report) by 1,752.1% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 214,071 shares of the semiconductor company's stock after buying an additional 202,513 shares during the quarter. Hsbc Holdings PLC owned approximately 0.65% of Silicon Laboratories worth $44,358,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also made changes to their positions in SLAB. AQR Capital Management LLC lifted its stake in Silicon Laboratories by 43.7% in the first quarter. AQR Capital Management LLC now owns 17,892 shares of the semiconductor company's stock valued at $2,001,000 after acquiring an additional 5,439 shares during the last quarter. Millennium Management LLC increased its stake in shares of Silicon Laboratories by 2,804.1% during the 1st quarter. Millennium Management LLC now owns 99,842 shares of the semiconductor company's stock worth $11,239,000 after purchasing an additional 96,404 shares during the last quarter. Jones Financial Companies Lllp increased its stake 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 worth $56,000 after purchasing an additional 272 shares during the last quarter. United Services Automobile Association bought a new position in shares of Silicon Laboratories during the 1st quarter valued at $235,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in shares of Silicon Laboratories by 1.8% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 97,156 shares of the semiconductor company's stock valued at $10,937,000 after purchasing an additional 1,679 shares in the last quarter.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reiterated a "sell (d-)" rating on shares of Silicon Laboratories in a report on Wednesday, June 24th. Eight 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, the stock presently has an average rating of "Reduce" and an average target price of $172.00.

Insider Activity at Silicon Laboratories

In other news, CEO Robert Matthew Johnson sold 8,024 shares of Silicon Laboratories stock in a transaction that occurred on Monday, May 18th. The stock was sold at an average price of $216.83, for a total transaction of $1,739,843.92. Following the sale, 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 1.60% of the company's stock.

Silicon Laboratories Price Performance

NASDAQ SLAB opened at $217.36 on Tuesday. The company's fifty day moving average is $218.23 and its two-hundred day moving average is $200.54. Silicon Laboratories, Inc. has a 52-week low of $115.50 and a 52-week high of $220.90. The firm has a market capitalization of $7.17 billion, a price-to-earnings ratio of -142.07 and a beta of 1.36.

Silicon Laboratories (NASDAQ:SLAB - Get Free Report) last announced 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. Silicon Laboratories had a negative net margin of 6.13% and a negative return on equity of 2.18%. The business had revenue of $213.50 million during the quarter, compared to analyst estimates of $214.02 million. During the same quarter in the prior year, the business earned ($0.08) earnings per share. The firm's revenue for the quarter was up 20.1% on a year-over-year basis. As a group, sell-side analysts expect that Silicon Laboratories, Inc. will post 0.74 earnings per share for the current fiscal year.

Silicon Laboratories Company 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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