11,650 Shares in Silicon Laboratories, Inc. $SLAB Bought by GABELLI & Co INVESTMENT ADVISERS INC.

GABELLI & Co INVESTMENT ADVISERS INC. purchased a new stake in shares of Silicon Laboratories, Inc. (NASDAQ:SLAB) during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 11,650 shares of the semiconductor company’s stock, valued at approximately $2,425,000.

Several other institutional investors have also bought and sold shares of the business. Gamco Investors INC. ET AL purchased a new position in shares of Silicon Laboratories in the 1st quarter worth $312,000. Arrowstreet Capital Limited Partnership increased its holdings in shares of Silicon Laboratories by 226.5% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 71,830 shares of the semiconductor company’s stock worth $14,951,000 after buying an additional 49,829 shares during the last quarter. Caxton Associates LLP raised its position in shares of Silicon Laboratories by 469.2% during the 1st quarter. Caxton Associates LLP now owns 27,277 shares of the semiconductor company’s stock valued at $5,678,000 after buying an additional 22,485 shares in the last quarter. DLD Asset Management LP purchased a new stake in shares of Silicon Laboratories during the 1st quarter valued at about $760,000. Finally, First Trust Advisors LP lifted its holdings in shares of Silicon Laboratories by 22.1% in the 1st quarter. First Trust Advisors LP now owns 37,839 shares of the semiconductor company’s stock valued at $7,876,000 after acquiring an additional 6,844 shares during the last quarter.

Silicon Laboratories Stock Up 0.1%

Shares of SLAB opened at $216.88 on Friday. The business has a fifty day moving average of $218.24 and a 200 day moving average of $202.46. The company has a market cap of $7.15 billion, a PE ratio of -141.75 and a beta of 1.36. Silicon Laboratories, Inc. has a 52-week low of $115.50 and a 52-week high of $220.90.

Silicon Laboratories (NASDAQ:SLAB) last posted its quarterly earnings data on Tuesday, May 5th. The semiconductor company reported $0.53 earnings per share for the quarter, beating analysts’ consensus estimates of $0.49 by $0.04. Silicon Laboratories had a negative net margin of 6.13% and a negative return on equity of 2.18%. The business had revenue of $213.50 million for the quarter, compared to analysts’ expectations of $214.02 million. During the same quarter in the previous year, the business posted ($0.08) earnings per share. The business’s revenue was up 20.1% compared to the same quarter last year. As a group, research analysts anticipate 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 Wednesday, June 24th. Seven analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Reduce” and an average price target of $177.50.

Insider Activity at Silicon Laboratories

In related news, CEO Robert Matthew Johnson sold 8,024 shares of the company’s 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 transaction, 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 position. The sale 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 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.