Silicon Laboratories, Inc. $SLAB Stake Cut by Leeward Investments LLC MA

Key Points

• Leeward Investments reduced its Silicon Laboratories stake by 17.2% in the third quarter, selling 20,682 shares and retaining 99,909 shares valued at approximately $22.1 million.
• Several major institutional investors, including BlackRock, HBK Investments, and Pentwater Capital Management, established new positions in SLAB during the second quarter.
• Analyst sentiment remains cautious, with six Hold ratings and one Sell rating, producing an average “Reduce” rating and a $218 price target. Silicon Laboratories recently beat quarterly EPS estimates and reported 18.3% year-over-year revenue growth.

Leeward Investments LLC MA lowered its position in shares of Silicon Laboratories, Inc. (NASDAQ:SLAB - Free Report) by 17.2% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 99,909 shares of the semiconductor company's stock after selling 20,682 shares during the period. Silicon Laboratories makes up approximately 1.1% of Leeward Investments LLC MA's portfolio, making the stock its 23rd largest position. Leeward Investments LLC MA owned about 0.30% of Silicon Laboratories worth $22,138,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of SLAB. BlackRock Inc. acquired a new position in Silicon Laboratories in the 2nd quarter valued at about $1,135,435,000. HBK Investments L P acquired a new position in Silicon Laboratories during the 2nd quarter worth approximately $218,560,000. Pentwater Capital Management LP purchased a new stake in shares of Silicon Laboratories in the 2nd quarter valued at approximately $162,111,000. Hsbc Holdings PLC purchased a new stake in shares of Silicon Laboratories in the 2nd quarter valued at approximately $67,455,000. Finally, Bank of New York Mellon Corp acquired a new stake in shares of Silicon Laboratories in the 2nd quarter valued at $45,699,000.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on SLAB shares. Wall Street Zen raised shares of Silicon Laboratories to a "hold" rating in a research report on Saturday, October 10th. Weiss Ratings reissued a "sell (d-)" rating on shares of Silicon Laboratories in a report on Monday, September 21st. Finally, Zacks Research upgraded Silicon Laboratories from a "strong sell" rating to a "hold" rating in a research note on Monday, October 12th. Six equities research analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Reduce" and an average price target of $218.00.

Silicon Laboratories Price Performance

Shares of NASDAQ SLAB opened at $221.27 on Monday. Silicon Laboratories, Inc. has a 52 week low of $115.50 and a 52 week high of $223.50. The firm has a 50-day moving average price of $220.48 and a 200 day moving average price of $218.32. The stock has a market capitalization of $7.38 billion, a price-to-earnings ratio of -187.52 and a beta of 1.33.

Silicon Laboratories (NASDAQ:SLAB - Get Free Report) last announced its quarterly earnings results on Tuesday, August 11th. The semiconductor company reported $0.71 EPS for the quarter, topping the consensus estimate of $0.69 by $0.02. Silicon Laboratories had a negative return on equity of 0.66% and a negative net margin of 4.57%. The business had revenue of $228.19 million for the quarter, compared to analyst estimates of $227.99 million. During the same quarter in the previous year, the company earned $0.11 EPS. The company's quarterly revenue was up 18.3% on a year-over-year basis. Equities research analysts expect that Silicon Laboratories, Inc. will post 0.52 EPS for the current fiscal year.

About Silicon Laboratories

Silicon Laboratories Inc is a fabless semiconductor company that develops technologies for the Internet of Things (IoT). The company provides integrated circuits, wireless modules, software and development tools that help manufacturers connect, monitor and control devices used in residential, commercial and industrial applications.

Its product portfolio includes wireless system-on-chip devices and modules supporting technologies such as Bluetooth, Wi-Fi, Zigbee, Thread, Matter, Z-Wave and proprietary sub-GHz protocols.

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