GABELLI & Co INVESTMENT ADVISERS INC. Buys New Shares in Silicon Laboratories, Inc. $SLAB

GABELLI & Co INVESTMENT ADVISERS INC. bought a new position in Silicon Laboratories, Inc. (NASDAQ:SLAB) in the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor bought 11,650 shares of the semiconductor company’s stock, valued at approximately $2,425,000.

A number of other institutional investors have also bought and sold shares of the business. Vident Advisory LLC lifted its position in shares of Silicon Laboratories by 2.5% in the fourth quarter. Vident Advisory LLC now owns 3,018 shares of the semiconductor company’s stock valued at $394,000 after acquiring an additional 74 shares in the last quarter. Bank of Montreal Can boosted its stake in shares of Silicon Laboratories by 2.9% in the fourth quarter. Bank of Montreal Can now owns 3,355 shares of the semiconductor company’s stock worth $438,000 after acquiring an additional 96 shares during the period. State of Michigan Retirement System grew its position in shares of Silicon Laboratories by 1.3% during the first quarter. State of Michigan Retirement System now owns 7,897 shares of the semiconductor company’s stock worth $1,644,000 after purchasing an additional 100 shares in the last quarter. Inspire Investing LLC grew its position in shares of Silicon Laboratories by 3.1% during the fourth quarter. Inspire Investing LLC now owns 3,585 shares of the semiconductor company’s stock worth $469,000 after purchasing an additional 109 shares in the last quarter. Finally, Global Retirement Partners LLC raised its stake in Silicon Laboratories by 37.3% during the 4th quarter. Global Retirement Partners LLC now owns 497 shares of the semiconductor company’s stock valued at $65,000 after purchasing an additional 135 shares during the period.

Silicon Laboratories Stock Performance

Shares of NASDAQ SLAB opened at $216.88 on Friday. The company has a market cap of $7.15 billion, a P/E 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 firm’s fifty day moving average is $218.24 and its two-hundred day moving average is $202.46.

Silicon Laboratories (NASDAQ:SLAB) last released its quarterly earnings data on Tuesday, May 5th. The semiconductor company reported $0.53 EPS for the quarter, beating the consensus estimate of $0.49 by $0.04. The business had revenue of $213.50 million during the quarter, compared to the consensus estimate 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 revenue was up 20.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($0.08) EPS. As a group, analysts forecast that Silicon Laboratories, Inc. will post 0.74 EPS for the current fiscal year.

Insider Activity at Silicon Laboratories

In related news, CEO Robert Matthew Johnson sold 8,024 shares of the stock in a transaction that occurred on Monday, May 18th. The stock was 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 directly owned 80,519 shares of the company’s stock, valued at approximately $17,458,934.77. This represents a 9.06% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 1.60% of the company’s stock.

Analysts Set New Price Targets

Separately, Weiss Ratings reissued a “sell (d-)” rating on shares of Silicon Laboratories in a report on Wednesday, June 24th. Seven investment analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Reduce” and an average target price of $177.50.

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.