Norges Bank Makes New $56.01 Million Investment in Silicon Laboratories, Inc. $SLAB

Norges Bank purchased a new stake in Silicon Laboratories, Inc. (NASDAQ:SLAB) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 428,524 shares of the semiconductor company’s stock, valued at approximately $56,008,000. Norges Bank owned approximately 1.30% of Silicon Laboratories at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of SLAB. Vanguard Group Inc. grew its holdings in Silicon Laboratories by 3.1% during the 4th quarter. Vanguard Group Inc. now owns 3,992,407 shares of the semiconductor company’s stock valued at $521,808,000 after buying an additional 121,432 shares during the last quarter. State Street Corp raised its holdings in shares of Silicon Laboratories by 0.5% in the second quarter. State Street Corp now owns 1,517,813 shares of the semiconductor company’s stock worth $223,665,000 after acquiring an additional 7,139 shares during the last quarter. Geode Capital Management LLC lifted its position in shares of Silicon Laboratories by 1.0% in the fourth quarter. Geode Capital Management LLC now owns 824,771 shares of the semiconductor company’s stock valued at $107,814,000 after acquiring an additional 7,921 shares in the last quarter. Invesco Ltd. lifted its position in shares of Silicon Laboratories by 3.5% in the third quarter. Invesco Ltd. now owns 755,142 shares of the semiconductor company’s stock valued at $99,022,000 after acquiring an additional 25,273 shares in the last quarter. Finally, AQR Capital Management LLC boosted its stake in shares of Silicon Laboratories by 89.5% during the third quarter. AQR Capital Management LLC now owns 701,919 shares of the semiconductor company’s stock valued at $91,109,000 after acquiring an additional 331,427 shares during the last quarter.

Insider Buying and Selling

In other news, CEO Robert Matthew Johnson sold 8,024 shares of the company’s stock in a transaction dated 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 transaction, the chief executive officer owned 80,519 shares of the company’s stock, valued at $17,458,934.77. This represents a 9.06% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 1.60% of the stock is owned by company insiders.

Silicon Laboratories Stock Performance

Shares of SLAB opened at $218.11 on Monday. Silicon Laboratories, Inc. has a fifty-two week low of $115.50 and a fifty-two week high of $219.68. The company has a market capitalization of $7.19 billion, a PE ratio of -142.56 and a beta of 1.37. The stock has a fifty day moving average of $214.50 and a two-hundred day moving average of $181.60.

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

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reissued a “sell (d-)” rating on shares of Silicon Laboratories in a research note on Friday, March 27th. One analyst has rated the stock with a Buy rating, eight have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $171.43.

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.