Silicon Laboratories, Inc. $SLAB Shares Bought by Squarepoint Ops LLC

Squarepoint Ops LLC increased its holdings in shares of Silicon Laboratories, Inc. (NASDAQ:SLAB) by 2.9% during the 2nd quarter, Holdings Channel.com reports. The fund owned 114,521 shares of the semiconductor company’s stock after buying an additional 3,231 shares during the period. Squarepoint Ops LLC’s holdings in Silicon Laboratories were worth $25,030,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in the stock. California State Teachers Retirement System increased its holdings in shares of Silicon Laboratories by 21.5% during the first quarter. California State Teachers Retirement System now owns 38,003 shares of the semiconductor company’s stock valued at $7,910,000 after purchasing an additional 6,737 shares during the period. BlackRock Inc. acquired a new stake in Silicon Laboratories in the second quarter worth about $1,135,435,000. GSA Capital Partners LLP bought a new position in Silicon Laboratories in the 2nd quarter valued at about $2,378,000. SEB Asset Management AB bought a new position in Silicon Laboratories in the 1st quarter valued at about $1,562,000. Finally, Assenagon Asset Management S.A. increased its stake in Silicon Laboratories by 395.2% during the 1st quarter. Assenagon Asset Management S.A. now owns 239,318 shares of the semiconductor company’s stock valued at $49,814,000 after buying an additional 190,994 shares during the period.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the stock. Zacks Research lowered 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 research analysts have rated the stock with a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, Silicon Laboratories presently has a consensus rating of “Reduce” and a consensus target price of $218.00.

Silicon Laboratories Stock Down 0.3%

NASDAQ:SLAB opened at $220.00 on Wednesday. The stock has a fifty day simple moving average of $218.38 and a 200 day simple moving average of $214.63. The firm has a market capitalization of $7.34 billion, a price-to-earnings ratio of -186.44 and a beta of 1.36. Silicon Laboratories, Inc. has a 1-year low of $115.50 and a 1-year high of $222.49.

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

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.