Sona Asset Management US LLC Takes $36.44 Million Position in Silicon Laboratories, Inc. $SLAB

Key Points

• Sona Asset Management US LLC acquired 175,059 Silicon Laboratories shares worth approximately $36.44 million, representing 0.53% of the company and 0.8% of the fund’s portfolio.
• Analyst sentiment remains cautious: seven analysts rate SLAB a Hold and one rates it Sell, resulting in a consensus “Reduce” rating and an average price target of $177.50.
• Silicon Laboratories reported first-quarter earnings of $0.53 per share, exceeding estimates of $0.49, while revenue rose 20.1% year over year to $213.5 million. CEO Robert Matthew Johnson separately sold 8,024 shares for approximately $1.74 million.

Sona Asset Management US LLC purchased a new position in shares of Silicon Laboratories, Inc. (NASDAQ:SLAB - Free Report) during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 175,059 shares of the semiconductor company's stock, valued at approximately $36,439,000. Silicon Laboratories comprises 0.8% of Sona Asset Management US LLC's investment portfolio, making the stock its 22nd largest holding. Sona Asset Management US LLC owned about 0.53% of Silicon Laboratories as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently made changes to their positions in SLAB. Kestra Advisory Services LLC acquired a new stake in Silicon Laboratories during the 4th quarter worth approximately $32,000. Covestor Ltd increased its position in Silicon Laboratories by 260.3% in the 4th quarter. Covestor Ltd now owns 281 shares of the semiconductor company's stock valued at $37,000 after acquiring an additional 203 shares during the period. Kemnay Advisory Services Inc. bought a new position in shares of Silicon Laboratories during the fourth quarter valued at $44,000. Jones Financial Companies Lllp raised its stake in shares of Silicon Laboratories by 121.4% during the first 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 lifted its holdings in shares of Silicon Laboratories by 37.3% during the fourth quarter. Global Retirement Partners LLC now owns 497 shares of the semiconductor company's stock worth $65,000 after purchasing an additional 135 shares during the period.

Insider Activity

In other Silicon Laboratories news, CEO Robert Matthew Johnson sold 8,024 shares of the business's stock in a transaction 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 sale, the chief executive officer owned 80,519 shares in the company, valued at approximately $17,458,934.77. The trade was a 9.06% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 1.60% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Separately, Weiss Ratings restated a "sell (d-)" rating on shares of Silicon Laboratories in a report on Wednesday, June 24th. Seven equities research analysts have rated the stock with a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Reduce" and an average target price of $177.50.

Silicon Laboratories Stock Performance

Shares of SLAB opened at $216.88 on Monday. The firm has a market cap of $7.15 billion, a PE ratio of -141.75 and a beta of 1.36. Silicon Laboratories, Inc. has a 52-week low of $115.50 and a 52-week high of $220.90. The business's 50 day moving average price is $218.24 and its two-hundred day moving average price is $202.91.

Silicon Laboratories (NASDAQ:SLAB - Get Free Report) last announced its quarterly earnings data on Tuesday, May 5th. The semiconductor company reported $0.53 earnings per share for the quarter, beating the consensus estimate of $0.49 by $0.04. The firm had revenue of $213.50 million for the quarter, compared to analyst estimates of $214.02 million. Silicon Laboratories had a negative net margin of 6.13% and a negative return on equity of 2.18%. The business's quarterly revenue was up 20.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.08) earnings per share. Research analysts predict that Silicon Laboratories, Inc. will post 0.74 EPS for the current fiscal year.

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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