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

Renaissance Technologies LLC increased its stake in shares of Silicon Laboratories, Inc. (NASDAQ:SLAB) by 121.6% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 155,098 shares of the semiconductor company’s stock after acquiring an additional 85,100 shares during the period. Renaissance Technologies LLC owned about 0.47% of Silicon Laboratories worth $32,284,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently bought and sold shares of the company. Kestra Advisory Services LLC purchased a new stake in Silicon Laboratories in the 4th quarter worth approximately $32,000. Covestor Ltd grew 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 during the period. Kemnay Advisory Services Inc. purchased a new position in shares of Silicon Laboratories during the 4th quarter valued at approximately $44,000. Jones Financial Companies Lllp lifted its stake in shares of Silicon Laboratories by 121.4% in the 1st quarter. Jones Financial Companies Lllp now owns 496 shares of the semiconductor company’s stock valued at $56,000 after purchasing an additional 272 shares during the period. Finally, Global Retirement Partners LLC lifted its stake in shares of Silicon Laboratories by 37.3% in the 4th quarter. Global Retirement Partners LLC now owns 497 shares of the semiconductor company’s stock valued at $65,000 after purchasing an additional 135 shares during the period.

Silicon Laboratories Stock Down 0.0%

SLAB opened at $217.25 on Wednesday. The firm’s fifty day simple moving average is $218.27 and its two-hundred day simple moving average is $203.91. Silicon Laboratories, Inc. has a 52-week low of $115.50 and a 52-week high of $220.90. The company has a market cap of $7.16 billion, a price-to-earnings ratio of -141.99 and a beta of 1.36.

Silicon Laboratories (NASDAQ:SLAB) last released its earnings results on Tuesday, May 5th. The semiconductor company reported $0.53 EPS for the quarter, topping 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 business had revenue of $213.50 million during the quarter, compared to analysts’ expectations of $214.02 million. During the same quarter in the previous year, the company earned ($0.08) earnings per share. The company’s quarterly revenue was up 20.1% on a year-over-year basis. On average, research analysts forecast that Silicon Laboratories, Inc. will post 0.74 EPS for the current year.

Wall Street Analyst Weigh In

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

Insider Transactions at Silicon Laboratories

In other Silicon Laboratories news, CEO Robert Matthew Johnson sold 8,024 shares of the business’s stock in a transaction that occurred 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 sale, the chief executive officer directly owned 80,519 shares in the company, valued at approximately $17,458,934.77. The trade was a 9.06% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 1.60% of the company’s stock.

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.