Silicon Laboratories, Inc. $SLAB Shares Bought by Renaissance Technologies LLC

Renaissance Technologies LLC raised its holdings in shares of Silicon Laboratories, Inc. (NASDAQ:SLAB) by 121.6% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 155,098 shares of the semiconductor company’s stock after buying an additional 85,100 shares during the quarter. Renaissance Technologies LLC’s holdings in Silicon Laboratories were worth $32,284,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Gabelli Funds LLC acquired a new position in Silicon Laboratories during the first quarter worth about $2,893,000. GABELLI & Co INVESTMENT ADVISERS INC. acquired a new stake in Silicon Laboratories in the 1st quarter valued at about $2,425,000. Gamco Investors INC. ET AL acquired a new stake in Silicon Laboratories in the 1st quarter valued at about $312,000. Arrowstreet Capital Limited Partnership lifted its stake in Silicon Laboratories by 226.5% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 71,830 shares of the semiconductor company’s stock worth $14,951,000 after purchasing an additional 49,829 shares in the last quarter. Finally, Caxton Associates LLP boosted its holdings in shares of Silicon Laboratories by 469.2% during the 1st quarter. Caxton Associates LLP now owns 27,277 shares of the semiconductor company’s stock worth $5,678,000 after purchasing an additional 22,485 shares during the last quarter.

Analyst Ratings Changes

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

Silicon Laboratories Stock Down 0.0%

NASDAQ SLAB opened at $217.25 on Wednesday. The business’s fifty day simple moving average is $218.27 and its 200-day simple moving average is $203.91. The firm has a market cap of $7.16 billion, a PE ratio of -141.99 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.

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

Insider Buying and Selling

In other Silicon Laboratories news, CEO Robert Matthew Johnson sold 8,024 shares of the business’s stock in a transaction dated Monday, May 18th. The shares were sold at an average price of $216.83, for a total value of $1,739,843.92. Following the transaction, the chief executive officer directly owned 80,519 shares in the company, valued at $17,458,934.77. The trade was a 9.06% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 1.60% of the stock is owned by company insiders.

Silicon Laboratories 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.