S Squared Technology LLC Invests $2.35 Million in Silicon Laboratories, Inc. $SLAB

S Squared Technology LLC purchased a new position in shares of Silicon Laboratories, Inc. (NASDAQ:SLAB) in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm purchased 10,730 shares of the semiconductor company’s stock, valued at approximately $2,345,149. Silicon Laboratories accounts for approximately 0.0% of S Squared Technology LLC’s investment portfolio, making the stock its 28th biggest position.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. BlackRock Inc. acquired a new stake in Silicon Laboratories in the second quarter worth approximately $1,135,435,000. Norges Bank bought a new stake in Silicon Laboratories during the fourth quarter worth about $56,008,000. Thrivent Financial for Lutherans increased its holdings in shares of Silicon Laboratories by 312.9% during the fourth quarter. Thrivent Financial for Lutherans now owns 467,958 shares of the semiconductor company’s stock worth $61,162,000 after purchasing an additional 354,621 shares during the period. AQR Capital Management LLC increased its position in Silicon Laboratories by 1,970.7% in the 2nd quarter. AQR Capital Management LLC now owns 370,492 shares of the semiconductor company’s stock valued at $54,516,000 after acquiring an additional 352,600 shares during the period. Finally, Bank of New York Mellon Corp acquired a new position in shares of Silicon Laboratories during the second quarter valued at about $45,699,000.

Silicon Laboratories Price Performance

Shares of Silicon Laboratories stock traded down $0.36 during midday trading on Friday, hitting $218.59. The company had a trading volume of 73,097 shares, compared to its average volume of 523,637. The business’s 50 day simple moving average is $218.21 and its two-hundred day simple moving average is $213.88. Silicon Laboratories, Inc. has a 1-year low of $115.50 and a 1-year high of $220.90. The stock has a market cap of $7.29 billion, a PE ratio of -185.25 and a beta of 1.37.

Silicon Laboratories (NASDAQ:SLAB) last released its quarterly earnings results on Tuesday, August 11th. The semiconductor company reported $0.71 earnings per share for the quarter, beating analysts’ consensus estimates 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 company had revenue of $228.19 million during the quarter, compared to the consensus estimate of $227.99 million. During the same period in the previous year, the business earned $0.11 earnings per share. The firm’s quarterly revenue was up 18.3% on a year-over-year basis. On average, sell-side analysts expect that Silicon Laboratories, Inc. will post 0.52 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

SLAB has been the subject of a number of research analyst reports. Zacks Research cut Silicon Laboratories from a “hold” rating to a “strong sell” rating in a research note on Tuesday, August 18th. Weiss Ratings restated a “sell (d-)” rating on shares of Silicon Laboratories in a research report on Wednesday, June 24th. Five equities research analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Reduce” and a consensus target price 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.