Silicon Laboratories, Inc. $SLAB Shares Bought by Engineers Gate Manager LP

Engineers Gate Manager LP grew its position in shares of Silicon Laboratories, Inc. (NASDAQ:SLAB) by 45.6% during the second quarter, Holdings Channel reports. The firm owned 33,304 shares of the semiconductor company’s stock after acquiring an additional 10,424 shares during the quarter. Engineers Gate Manager LP’s holdings in Silicon Laboratories were worth $7,279,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Squarepoint Ops LLC increased its stake in Silicon Laboratories by 2.9% during the 2nd quarter. Squarepoint Ops LLC now owns 114,521 shares of the semiconductor company’s stock worth $25,030,000 after buying an additional 3,231 shares during the period. Arizona State Retirement System raised its position in Silicon Laboratories by 0.8% in the 2nd quarter. Arizona State Retirement System now owns 9,097 shares of the semiconductor company’s stock valued at $1,988,000 after purchasing an additional 74 shares in the last quarter. Carmignac Gestion boosted its stake in shares of Silicon Laboratories by 44.9% in the 2nd quarter. Carmignac Gestion now owns 40,340 shares of the semiconductor company’s stock valued at $8,817,000 after buying an additional 12,497 shares during the period. Nykredit A S purchased a new position in shares of Silicon Laboratories in the 2nd quarter valued at about $124,000. Finally, Corient Private Wealth LP acquired a new position in shares of Silicon Laboratories during the second quarter worth about $285,000.

Silicon Laboratories Stock Performance

Shares of SLAB stock opened at $220.33 on Friday. The stock’s 50-day moving average is $218.47 and its two-hundred day moving average is $214.88. The firm has a market cap of $7.35 billion, a price-to-earnings ratio of -186.72 and a beta of 1.36. Silicon Laboratories, Inc. has a 1 year low of $115.50 and a 1 year high of $222.49.

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

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the stock. Zacks Research lowered shares of Silicon Laboratories from a “hold” rating to a “strong sell” rating in a research note on Tuesday, August 18th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Silicon Laboratories in a report on Wednesday, June 24th. Five equities research analysts have rated the stock with a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Reduce” and a consensus target price of $218.00.

Silicon Laboratories Profile

Silicon Laboratories Inc is a fabless semiconductor company focused on technologies that connect and control devices in the Internet of Things (IoT). The company develops integrated circuits, modules and software designed to help manufacturers build connected products for residential, commercial and industrial applications.

Its portfolio includes wireless system-on-chips, microcontrollers, connectivity modules and development tools supporting technologies such as Bluetooth, Wi-Fi, Zigbee, Thread, Matter and proprietary wireless protocols.