Susquehanna Fundamental Investments LLC Acquires 15,128 Shares of Silicon Laboratories, Inc. $SLAB

Key Points

• Susquehanna Fundamental Investments increased its Silicon Laboratories stake by 588.6% in the second quarter, adding 15,128 shares to own 17,698 shares worth approximately $3.87 million.
• Silicon Laboratories reported quarterly revenue of $228.19 million, up 18.3% year over year, and adjusted earnings of $0.71 per share, beating analyst estimates of $0.69.
• SLAB shares opened at $219.05, near their 52-week high, while analyst sentiment remained cautious: the consensus rating was “Reduce” with a $218 target price.

Susquehanna Fundamental Investments LLC grew its holdings in Silicon Laboratories, Inc. (NASDAQ:SLAB - Free Report) by 588.6% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 17,698 shares of the semiconductor company's stock after buying an additional 15,128 shares during the period. Susquehanna Fundamental Investments LLC owned approximately 0.05% of Silicon Laboratories worth $3,868,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in SLAB. Harbor Investment Advisory LLC purchased a new position in Silicon Laboratories in the second quarter worth about $28,000. Allworth Financial LP purchased a new stake in Silicon Laboratories during the second quarter valued at approximately $42,000. EverSource Wealth Advisors LLC lifted its stake in shares of Silicon Laboratories by 66.7% in the 1st quarter. EverSource Wealth Advisors LLC now owns 225 shares of the semiconductor company's stock valued at $47,000 after purchasing an additional 90 shares during the last quarter. Kestra Advisory Services LLC bought a new stake in shares of Silicon Laboratories in the 4th quarter valued at approximately $32,000. Finally, Covestor Ltd boosted its holdings in shares of Silicon Laboratories by 260.3% in the 4th quarter. Covestor Ltd now owns 281 shares of the semiconductor company's stock worth $37,000 after purchasing an additional 203 shares during the period.

Silicon Laboratories Stock Performance

NASDAQ:SLAB opened at $219.05 on Tuesday. Silicon Laboratories, Inc. has a one year low of $115.50 and a one year high of $220.90. The firm has a market cap of $7.31 billion, a P/E ratio of -185.64 and a beta of 1.37. The firm has a 50-day simple moving average of $218.17 and a 200-day simple moving average of $214.06.

Silicon Laboratories (NASDAQ:SLAB - Get Free Report) last released 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 firm had revenue of $228.19 million during the quarter, compared to analyst estimates of $227.99 million. During the same period in the previous year, the company posted $0.11 EPS. The business's revenue for the quarter was up 18.3% compared to the same quarter last year. On average, research analysts predict that Silicon Laboratories, Inc. will post 0.52 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on SLAB shares. Zacks Research lowered Silicon Laboratories from a "hold" rating to a "strong sell" rating in a report on Tuesday, August 18th. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Silicon Laboratories in a research note on Wednesday, June 24th. Five research analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Reduce" and a consensus target price of $218.00.

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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