Polar Asset Management Partners Inc. Invests $5.63 Million in Silicon Laboratories, Inc. $SLAB

Polar Asset Management Partners Inc. bought a new position in Silicon Laboratories, Inc. (NASDAQ:SLAB) in the 2nd quarter, Holdings Channel reports. The firm bought 25,783 shares of the semiconductor company’s stock, valued at approximately $5,635,000.

A number of other large investors have also recently made changes to their positions in SLAB. Jupiter Topco LLC bought a new position in Silicon Laboratories during the 2nd quarter valued at about $3,340,000. Kintayl Capital LP bought a new stake in Silicon Laboratories in the second quarter worth about $11,556,000. Hsbc Holdings PLC purchased a new position in shares of Silicon Laboratories during the second quarter valued at approximately $67,455,000. Legal & General Group Plc purchased a new position in shares of Silicon Laboratories during the second quarter valued at approximately $11,067,000. Finally, The Manufacturers Life Insurance Company bought a new position in shares of Silicon Laboratories during the second quarter valued at approximately $5,431,000.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on SLAB. Weiss Ratings reiterated a “sell (d-)” rating on shares of Silicon Laboratories in a report on Wednesday, June 24th. Zacks Research downgraded Silicon Laboratories from a “hold” rating to a “strong sell” rating in a research report on Tuesday, August 18th. Five research analysts have rated the stock with a Hold rating and two have given a Sell rating to the company. According to MarketBeat, the stock has an average rating of “Reduce” and an average target price of $218.00.

Silicon Laboratories Price Performance

NASDAQ:SLAB opened at $218.37 on Wednesday. Silicon Laboratories, Inc. has a 1-year low of $115.50 and a 1-year high of $220.90. The company has a 50-day moving average of $218.22 and a 200 day moving average of $213.70. The firm has a market cap of $7.29 billion, a PE ratio of -185.06 and a beta of 1.37.

Silicon Laboratories (NASDAQ:SLAB) last issued its earnings results on Tuesday, August 11th. The semiconductor company reported $0.71 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.69 by $0.02. The company had revenue of $228.19 million for the quarter, compared to analysts’ expectations of $227.99 million. Silicon Laboratories had a negative net margin of 4.57% and a negative return on equity of 0.66%. The firm’s quarterly revenue was up 18.3% on a year-over-year basis. During the same period in the prior year, the business earned $0.11 EPS. Sell-side analysts anticipate that Silicon Laboratories, Inc. will post 0.52 EPS for the current fiscal year.

About Silicon Laboratories

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.