Public Sector Pension Investment Board Acquires Shares of 36,600 Silicon Laboratories, Inc. $SLAB

Public Sector Pension Investment Board acquired a new stake in shares of Silicon Laboratories, Inc. (NASDAQ:SLAB) in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 36,600 shares of the semiconductor company’s stock, valued at approximately $4,799,000. Public Sector Pension Investment Board owned approximately 0.11% of Silicon Laboratories as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. AQR Capital Management LLC grew its holdings in Silicon Laboratories by 1,970.7% during the 2nd quarter. AQR Capital Management LLC now owns 370,492 shares of the semiconductor company’s stock valued at $54,516,000 after buying an additional 352,600 shares in the last quarter. Norges Bank bought a new position in shares of Silicon Laboratories during the 2nd quarter valued at approximately $45,857,000. American Century Companies Inc. grew its holdings in shares of Silicon Laboratories by 26.1% in the second quarter. American Century Companies Inc. now owns 643,142 shares of the semiconductor company’s stock valued at $94,774,000 after purchasing an additional 132,964 shares in the last quarter. Squarepoint Ops LLC increased its position in Silicon Laboratories by 244.1% in the second quarter. Squarepoint Ops LLC now owns 167,595 shares of the semiconductor company’s stock worth $24,697,000 after purchasing an additional 118,883 shares during the last quarter. Finally, Prudential Financial Inc. raised its stake in Silicon Laboratories by 2,972.9% during the second quarter. Prudential Financial Inc. now owns 99,807 shares of the semiconductor company’s stock valued at $14,708,000 after purchasing an additional 96,559 shares in the last quarter.

Silicon Laboratories Price Performance

Shares of NASDAQ:SLAB opened at $204.79 on Friday. The firm has a market capitalization of $6.75 billion, a PE ratio of -102.91 and a beta of 1.56. The business has a 50 day simple moving average of $156.32 and a two-hundred day simple moving average of $140.41. Silicon Laboratories, Inc. has a 1 year low of $82.82 and a 1 year high of $208.84.

Silicon Laboratories (NASDAQ:SLAB) last issued its quarterly earnings results on Wednesday, February 4th. The semiconductor company reported $0.56 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.54 by $0.02. Silicon Laboratories had a negative return on equity of 4.07% and a negative net margin of 8.27%.The firm had revenue of $208.21 million during the quarter, compared to analyst estimates of $207.63 million. During the same period last year, the company earned ($0.11) EPS. Silicon Laboratories’s quarterly revenue was up 25.3% compared to the same quarter last year. Equities research analysts expect that Silicon Laboratories, Inc. will post -0.97 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages have commented on SLAB. Weiss Ratings reissued a “sell (d-)” rating on shares of Silicon Laboratories in a research note on Monday, December 29th. Royal Bank Of Canada lifted their price target on Silicon Laboratories from $160.00 to $205.00 and gave the stock a “sector perform” rating in a research report on Thursday, February 5th. Needham & Company LLC downgraded Silicon Laboratories from a “buy” rating to a “hold” rating in a research report on Wednesday, February 4th. KeyCorp cut Silicon Laboratories from an “overweight” rating to a “hold” rating in a report on Wednesday, February 4th. Finally, Citigroup boosted their target price on Silicon Laboratories from $135.00 to $231.00 and gave the company a “neutral” rating in a research report on Friday, February 6th. One equities research analyst has rated the stock with a Buy rating, eight have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $167.78.

Insiders Place Their Bets

In other Silicon Laboratories news, SVP Brandon Tolany sold 1,954 shares of the firm’s stock in a transaction on Friday, December 5th. The stock was sold at an average price of $141.49, for a total transaction of $276,471.46. Following the transaction, the senior vice president directly owned 62,381 shares in the company, valued at $8,826,287.69. This trade represents a 3.04% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Nina Richardson sold 1,355 shares of Silicon Laboratories stock in a transaction on Tuesday, January 13th. The shares were sold at an average price of $149.00, for a total value of $201,895.00. Following the sale, the director directly owned 8,543 shares of the company’s stock, valued at approximately $1,272,907. This trade represents a 13.69% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 7,555 shares of company stock valued at $1,073,528 over the last three months. Insiders own 1.60% of the company’s stock.

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.