49,232 Shares in Silicon Laboratories, Inc. $SLAB Bought by Cinctive Capital Management LP

Cinctive Capital Management LP bought a new position in Silicon Laboratories, Inc. (NASDAQ:SLAB) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund bought 49,232 shares of the semiconductor company’s stock, valued at approximately $6,435,000. Cinctive Capital Management LP owned approximately 0.15% of Silicon Laboratories as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in SLAB. Kestra Advisory Services LLC purchased a new position in Silicon Laboratories in the fourth quarter worth $32,000. EverSource Wealth Advisors LLC grew its position in Silicon Laboratories by 45.7% in the third quarter. EverSource Wealth Advisors LLC now owns 274 shares of the semiconductor company’s stock worth $36,000 after acquiring an additional 86 shares in the last quarter. Covestor Ltd grew its position in Silicon Laboratories by 260.3% in the fourth quarter. Covestor Ltd now owns 281 shares of the semiconductor company’s stock worth $37,000 after acquiring an additional 203 shares in the last quarter. Kemnay Advisory Services Inc. purchased a new position in Silicon Laboratories in the fourth quarter worth $44,000. Finally, Jones Financial Companies Lllp grew its position in Silicon Laboratories by 121.4% in the first quarter. Jones Financial Companies Lllp now owns 496 shares of the semiconductor company’s stock worth $56,000 after acquiring an additional 272 shares in the last quarter.

Silicon Laboratories Stock Down 0.4%

NASDAQ SLAB opened at $218.61 on Thursday. The company has a 50-day simple moving average of $216.29 and a two-hundred day simple moving average of $187.12. Silicon Laboratories, Inc. has a 12-month low of $115.50 and a 12-month high of $220.90. The firm has a market cap of $7.21 billion, a price-to-earnings ratio of -142.88 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 earnings per share for the quarter, topping analysts’ consensus estimates 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 net margin of 6.13% and a negative return on equity of 2.18%. Silicon Laboratories’s revenue for the quarter was up 20.1% on a year-over-year basis. During the same period in the prior year, the business posted ($0.08) earnings per share. Equities analysts expect that Silicon Laboratories, Inc. will post 0.74 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reiterated a “sell (d-)” rating on shares of Silicon Laboratories in a research report on Friday, March 27th. One analyst has rated the stock with a Buy rating, eight have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $171.43.

Insider Buying and Selling at Silicon Laboratories

In other news, CEO Robert Matthew Johnson sold 8,024 shares of the stock in a transaction dated Monday, May 18th. The shares were 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. This represents a 9.06% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate 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.