Hsbc Holdings PLC Purchases New Shares in Silicon Laboratories, Inc. $SLAB

Hsbc Holdings PLC purchased a new position in Silicon Laboratories, Inc. (NASDAQ:SLAB) during the second quarter, Holdings Channel.com reports. The firm purchased 307,503 shares of the semiconductor company’s stock, valued at approximately $67,455,000.

A number of other hedge funds also recently bought and sold shares of the company. Legal & General Group Plc acquired a new position in shares of Silicon Laboratories in the second quarter worth about $11,067,000. The Manufacturers Life Insurance Company acquired a new stake in shares of Silicon Laboratories during the second quarter valued at approximately $5,431,000. S Squared Technology LLC acquired a new stake in shares of Silicon Laboratories during the second quarter valued at approximately $2,345,149,000. Athos Capital Ltd acquired a new stake in shares of Silicon Laboratories during the second quarter valued at approximately $1,356,000. Finally, Connor Clark & Lunn Investment Management Ltd. purchased a new stake in shares of Silicon Laboratories in the 2nd quarter valued at approximately $1,085,000.

Silicon Laboratories Price Performance

Shares of SLAB opened at $218.83 on Thursday. The business’s 50-day moving average is $218.23 and its 200-day moving average is $213.79. The company has a market capitalization of $7.30 billion, a price-to-earnings ratio of -185.45 and a beta of 1.37. Silicon Laboratories, Inc. has a fifty-two week low of $115.50 and a fifty-two week high of $220.90.

Silicon Laboratories (NASDAQ:SLAB) last posted its quarterly earnings results on Tuesday, August 11th. The semiconductor company reported $0.71 EPS for the quarter, topping the consensus estimate of $0.69 by $0.02. Silicon Laboratories had a negative net margin of 4.57% and a negative return on equity of 0.66%. The business had revenue of $228.19 million during the quarter, compared to analysts’ expectations of $227.99 million. During the same period last year, the company posted $0.11 earnings per share. The firm’s quarterly revenue was up 18.3% compared to the same quarter last year. Equities research analysts expect that Silicon Laboratories, Inc. will post 0.52 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

SLAB has been the subject of a number of recent analyst reports. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Silicon Laboratories in a research note on Wednesday, June 24th. Zacks Research downgraded shares of Silicon Laboratories from a “hold” rating to a “strong sell” rating in a research note on Tuesday, August 18th. Five equities research analysts have rated the stock with a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, Silicon Laboratories presently has a consensus rating of “Reduce” and an average price target of $218.00.

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.