Silicon Laboratories, Inc. $SLAB Holdings Raised by California State Teachers Retirement System

California State Teachers Retirement System raised its stake in shares of Silicon Laboratories, Inc. (NASDAQ:SLAB) by 21,812.4% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 8,327,355 shares of the semiconductor company’s stock after buying an additional 8,289,352 shares during the period. California State Teachers Retirement System owned about 0.25% of Silicon Laboratories worth $1,820,027,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Harbor Investment Advisory LLC acquired a new position in shares of Silicon Laboratories in the second quarter worth $28,000. Allworth Financial LP purchased a new position in Silicon Laboratories in the second quarter valued at about $42,000. EverSource Wealth Advisors LLC grew its stake in Silicon Laboratories by 66.7% in the first quarter. EverSource Wealth Advisors LLC now owns 225 shares of the semiconductor company’s stock valued at $47,000 after purchasing an additional 90 shares in the last quarter. Kestra Advisory Services LLC acquired a new position in Silicon Laboratories in the 4th quarter worth about $32,000. Finally, Covestor Ltd raised its stake in shares of Silicon Laboratories by 260.3% during the 4th quarter. Covestor Ltd now owns 281 shares of the semiconductor company’s stock worth $37,000 after purchasing an additional 203 shares in the last quarter.

Analyst Ratings Changes

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

Silicon Laboratories Stock Performance

NASDAQ SLAB opened at $220.33 on Friday. Silicon Laboratories, Inc. has a twelve month low of $115.50 and a twelve month high of $222.49. The stock has a market capitalization of $7.35 billion, a PE ratio of -186.72 and a beta of 1.36. The stock has a 50-day simple moving average of $218.47 and a 200 day simple moving average of $214.88.

Silicon Laboratories (NASDAQ:SLAB) last released its earnings results on Tuesday, August 11th. The semiconductor company reported $0.71 earnings per share for the quarter, topping analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $227.99 million. During the same period last year, the business earned $0.11 earnings per share. The firm’s revenue for the quarter was up 18.3% compared to the same quarter last year. As a group, equities research analysts forecast that Silicon Laboratories, Inc. will post 0.52 EPS for the current fiscal year.

About Silicon Laboratories

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.