XTX Topco Ltd Purchases Shares of 6,090 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 purchased a new stake in shares of Silicon Laboratories, Inc. (NASDAQ:SLAB - Free Report) in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 6,090 shares of the semiconductor company's stock, valued at approximately $686,000.

A number of other large investors have also made changes to their positions in the company. Mackenzie Financial Corp grew its stake in shares of Silicon Laboratories by 11,746.2% during the 1st quarter. Mackenzie Financial Corp now owns 236,924 shares of the semiconductor company's stock valued at $26,671,000 after purchasing an additional 234,924 shares during the period. LPL Financial LLC grew its stake in shares of Silicon Laboratories by 7.1% during the 1st quarter. LPL Financial LLC now owns 33,150 shares of the semiconductor company's stock valued at $3,404,000 after purchasing an additional 2,208 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of Silicon Laboratories by 5.4% during the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,911 shares of the semiconductor company's stock valued at $1,003,000 after buying an additional 458 shares in the last quarter. Skandinaviska Enskilda Banken AB publ purchased a new position in shares of Silicon Laboratories during the 1st quarter valued at about $34,000. Finally, Royce & Associates LP lifted its position in shares of Silicon Laboratories by 26.6% during the 1st quarter. Royce & Associates LP now owns 31,007 shares of the semiconductor company's stock valued at $3,490,000 after buying an additional 6,507 shares in the last quarter.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on SLAB shares. Needham & Company LLC reaffirmed a "buy" rating and set a $150.00 price objective on shares of Silicon Laboratories in a research report on Wednesday, May 14th. Susquehanna lifted their price objective on Silicon Laboratories from $110.00 to $150.00 and gave the company a "neutral" rating in a research report on Tuesday, July 22nd. Wall Street Zen raised Silicon Laboratories from a "sell" rating to a "hold" rating in a research report on Wednesday, May 14th. Stifel Nicolaus lifted their price objective on Silicon Laboratories from $144.00 to $160.00 and gave the company a "buy" rating in a research report on Friday, July 18th. Finally, Barclays lowered their price target on Silicon Laboratories from $120.00 to $80.00 and set an "equal weight" rating on the stock in a report on Tuesday, April 22nd. Four analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $139.00.

Silicon Laboratories Stock Performance

NASDAQ SLAB opened at $133.55 on Tuesday. The company has a market cap of $4.35 billion, a P/E ratio of -26.13 and a beta of 1.48. The business's 50 day moving average price is $138.54 and its 200-day moving average price is $128.30. Silicon Laboratories, Inc. has a fifty-two week low of $82.82 and a fifty-two week high of $160.00.

Silicon Laboratories (NASDAQ:SLAB - Get Free Report) last released its earnings results on Tuesday, May 13th. The semiconductor company reported ($0.08) earnings per share for the quarter, beating the consensus estimate of ($0.09) by $0.01. The firm had revenue of $177.71 million for the quarter, compared to the consensus estimate of $177.48 million. Silicon Laboratories had a negative return on equity of 8.80% and a negative net margin of 25.16%. The company's revenue for the quarter was up 67.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.92) EPS. As a group, equities analysts predict that Silicon Laboratories, Inc. will post -0.97 EPS for the current year.

Insider Buying and Selling at Silicon Laboratories

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

Silicon Laboratories Company 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.

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