The Manufacturers Life Insurance Company Acquires Shares of 24,851 Silicon Laboratories, Inc. $SLAB

The Manufacturers Life Insurance Company bought a new position in shares of Silicon Laboratories, Inc. (NASDAQ:SLAB) during the 2nd quarter, Holdings Channel.com reports. The fund bought 24,851 shares of the semiconductor company’s stock, valued at approximately $5,431,000.

A number of other large investors have also modified their holdings of the business. BlackRock Inc. purchased a new stake in shares of Silicon Laboratories in the second quarter valued at approximately $1,135,435,000. Vanguard Group Inc. raised its position in Silicon Laboratories by 3.1% in the fourth quarter. Vanguard Group Inc. now owns 3,992,407 shares of the semiconductor company’s stock worth $521,808,000 after acquiring an additional 121,432 shares in the last quarter. State Street Corp lifted its holdings in Silicon Laboratories by 0.5% in the second quarter. State Street Corp now owns 1,517,813 shares of the semiconductor company’s stock valued at $223,665,000 after acquiring an additional 7,139 shares during the period. Invesco Ltd. lifted its holdings in Silicon Laboratories by 12.9% in the fourth quarter. Invesco Ltd. now owns 852,493 shares of the semiconductor company’s stock valued at $111,421,000 after acquiring an additional 97,351 shares during the period. Finally, Geode Capital Management LLC boosted its position in shares of Silicon Laboratories by 1.0% during the 4th quarter. Geode Capital Management LLC now owns 824,771 shares of the semiconductor company’s stock worth $107,814,000 after purchasing an additional 7,921 shares in the last quarter.

Silicon Laboratories Stock Performance

Shares of SLAB stock opened at $219.05 on Tuesday. The stock has a fifty day moving average price of $218.17 and a 200 day moving average price of $214.06. The stock has a market cap of $7.31 billion, a PE ratio of -185.64 and a beta of 1.37. Silicon Laboratories, Inc. has a 1 year low of $115.50 and a 1 year high of $220.90.

Silicon Laboratories (NASDAQ:SLAB) last posted its earnings results on Tuesday, August 11th. The semiconductor company reported $0.71 earnings per share for the quarter, beating the consensus estimate 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 company had revenue of $228.19 million for the quarter, compared to analyst estimates of $227.99 million. During the same quarter in the prior year, the company earned $0.11 earnings per share. Silicon Laboratories’s revenue was up 18.3% compared to the same quarter last year. As a group, equities research analysts predict that Silicon Laboratories, Inc. will post 0.52 earnings per share for the current year.

Analyst Ratings Changes

A number of research firms have recently weighed in on SLAB. Zacks Research cut shares of Silicon Laboratories from a “hold” rating to a “strong sell” rating in a research note on Tuesday, August 18th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Silicon Laboratories in a research note on Wednesday, June 24th. Five investment analysts have rated the stock with a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat, the company has an average rating of “Reduce” and a consensus price target of $218.00.

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.