Assenagon Asset Management S.A. Grows Stock Position in Silicon Laboratories, Inc. $SLAB

Assenagon Asset Management S.A. raised its position in Silicon Laboratories, Inc. (NASDAQ:SLAB) by 395.2% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 239,318 shares of the semiconductor company’s stock after acquiring an additional 190,994 shares during the quarter. Assenagon Asset Management S.A.’s holdings in Silicon Laboratories were worth $49,814,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in SLAB. Hsbc Holdings PLC lifted its position in shares of Silicon Laboratories by 74.3% during the fourth quarter. Hsbc Holdings PLC now owns 11,558 shares of the semiconductor company’s stock worth $1,516,000 after purchasing an additional 4,927 shares in the last quarter. Worthington Financial Partners LLC purchased a new stake in Silicon Laboratories during the 4th quarter worth $405,000. Pacer Advisors Inc. increased its stake in Silicon Laboratories by 70.3% during the 4th quarter. Pacer Advisors Inc. now owns 7,374 shares of the semiconductor company’s stock worth $964,000 after buying an additional 3,044 shares during the period. Invesco Ltd. boosted its position in Silicon Laboratories by 12.9% in the 4th quarter. Invesco Ltd. now owns 852,493 shares of the semiconductor company’s stock valued at $111,421,000 after buying an additional 97,351 shares during the last quarter. Finally, First Growth Capital LLC purchased a new position in Silicon Laboratories in the 4th quarter valued at about $130,000.

Insider Buying and Selling

In related news, CEO Robert Matthew Johnson sold 8,024 shares of the company’s stock in a transaction on Monday, May 18th. The stock was sold at an average price of $216.83, for a total transaction of $1,739,843.92. Following the completion of the transaction, the chief executive officer directly owned 80,519 shares in the company, valued at $17,458,934.77. This represents a 9.06% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.60% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings restated a “sell (d-)” rating on shares of Silicon Laboratories in a research note on Friday, March 27th. One investment analyst has rated the stock with a Buy rating, eight have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, Silicon Laboratories presently has an average rating of “Hold” and a consensus price target of $171.43.

Silicon Laboratories Stock Down 0.0%

SLAB opened at $217.95 on Friday. The company’s 50-day moving average price is $217.28 and its 200 day moving average price is $190.73. Silicon Laboratories, Inc. has a fifty-two week low of $115.50 and a fifty-two week high of $220.90. The firm has a market cap of $7.19 billion, a price-to-earnings ratio of -142.45 and a beta of 1.37.

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