XTX Topco Ltd Acquires New Holdings in Silicon Laboratories, Inc. (NASDAQ:SLAB)

Key Points

• XTX Topco Ltd acquired a new stake in Silicon Laboratories, Inc. by purchasing 6,090 shares valued at approximately $686,000 during the first quarter.
• Mackenzie Financial Corp significantly increased its stake in Silicon Laboratories by 11,746.2%, now owning 236,924 shares valued at $26.67 million.
• Research analysts have varied opinions on Silicon Laboratories, with an average rating of Moderate Buy and an average price target of $139.00.

XTX Topco Ltd bought a new position in shares of Silicon Laboratories, Inc. (NASDAQ:SLAB - Free Report) during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor bought 6,090 shares of the semiconductor company's stock, valued at approximately $686,000.

Other large investors have also recently added to or reduced their stakes in the company. Skandinaviska Enskilda Banken AB publ acquired a new stake in Silicon Laboratories during the 1st quarter worth $34,000. UMB Bank n.a. boosted its stake in Silicon Laboratories by 111.3% during the 1st quarter. UMB Bank n.a. now owns 336 shares of the semiconductor company's stock worth $38,000 after purchasing an additional 177 shares during the period. Parallel Advisors LLC boosted its stake in Silicon Laboratories by 143.7% during the 1st quarter. Parallel Advisors LLC now owns 463 shares of the semiconductor company's stock worth $52,000 after purchasing an additional 273 shares during the period. Larson Financial Group LLC acquired a new stake in Silicon Laboratories during the 1st quarter worth $55,000. Finally, Headlands Technologies LLC acquired a new stake in Silicon Laboratories during the 4th quarter worth $70,000.

Silicon Laboratories Stock Performance

NASDAQ SLAB traded up $0.47 on Friday, reaching $124.80. The company's stock had a trading volume of 104,765 shares, compared to its average volume of 411,279. Silicon Laboratories, Inc. has a twelve month low of $82.82 and a twelve month high of $160.00. The stock has a market cap of $4.09 billion, a PE ratio of -38.77 and a beta of 1.48. The firm's 50 day moving average is $138.58 and its two-hundred day moving average is $128.19.

Silicon Laboratories (NASDAQ:SLAB - Get Free Report) last released its quarterly earnings data on Tuesday, August 5th. The semiconductor company reported $0.11 EPS for the quarter, topping analysts' consensus estimates of $0.09 by $0.02. Silicon Laboratories had a negative return on equity of 7.21% and a negative net margin of 14.88%. The firm had revenue of $192.85 million for the quarter, compared to the consensus estimate of $192.57 million. During the same quarter in the prior year, the company posted ($0.56) earnings per share. The firm's revenue was up 32.6% on a year-over-year basis. Equities research analysts anticipate that Silicon Laboratories, Inc. will post -0.97 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the stock. Needham & Company LLC restated a "buy" rating and issued a $150.00 target price on shares of Silicon Laboratories in a research note on Wednesday, May 14th. Benchmark restated a "buy" rating and issued a $160.00 target price on shares of Silicon Laboratories in a research note on Tuesday, May 27th. Barclays raised their target price on shares of Silicon Laboratories from $100.00 to $130.00 and gave the stock an "equal weight" rating in a research note on Tuesday. Morgan Stanley reduced their target price on shares of Silicon Laboratories from $157.00 to $144.00 and set an "equal weight" rating for the company in a research note on Wednesday. Finally, Wall Street Zen upgraded shares of Silicon Laboratories from a "sell" rating to a "hold" rating in a research note on Wednesday, May 14th. Four investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $151.13.

Insider Buying and Selling at Silicon Laboratories

In related news, CEO Robert Matthew Johnson sold 5,879 shares of Silicon Laboratories stock in a transaction dated Friday, May 16th. The stock was sold at an average price of $131.20, for a total value of $771,324.80. Following the completion of the transaction, the chief executive officer directly owned 73,688 shares of the company's stock, valued at $9,667,865.60. The trade was a 7.39% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, SVP Robert J. Conrad sold 4,029 shares of Silicon Laboratories stock in a transaction dated Friday, May 16th. The shares were sold at an average price of $131.20, for a total value of $528,604.80. Following the completion of the transaction, the senior vice president directly owned 25,380 shares of the company's stock, valued at $3,329,856. This represents a 13.70% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 11,080 shares of company stock worth $1,452,290. 1.60% of the stock is currently owned by corporate insiders.

Silicon Laboratories Profile

Silicon Laboratories Inc, a fabless semiconductor company, provides various analog-intensive mixed-signal solutions in the United States, China, Taiwan, and internationally. The company's products include wireless microcontrollers and sensor products. Its products are used in various electronic products in a range of applications for the industrial Internet of Things (IoT), including industrial automation and control, smart buildings, access control, HVAC control, and industrial wearables and power tools; smart cities applications, such as smart metering, smart street lighting, renewable energy, electric vehicle supply equipment, and smart agriculture; commercial IoT applications, including smart lighting, asset tracking, electronic shelf labels, theft protection, and enterprise access points; smart home applications, comprising home automation/security systems, smart speakers, smart lighting, HVAC control, smart cameras, smart appliances, smart home sensing, smart locks, and window/blind controls; and connected health applications, including diabetes management, consumer health and fitness, elderly care, patient monitoring, and activity tracking; as well as in commercial building automation, consumer electronics, and medical instrumentation.