Carmignac Gestion Acquires New Stake in Silicon Laboratories, Inc. $SLAB

Carmignac Gestion bought a new position in shares of Silicon Laboratories, Inc. (NASDAQ:SLAB) in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 27,843 shares of the semiconductor company’s stock, valued at approximately $5,796,000. Carmignac Gestion owned approximately 0.08% of Silicon Laboratories as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in SLAB. EverSource Wealth Advisors LLC grew its holdings in shares of Silicon Laboratories by 66.7% during the first quarter. EverSource Wealth Advisors LLC now owns 225 shares of the semiconductor company’s stock worth $47,000 after purchasing an additional 90 shares in the last quarter. Kestra Advisory Services LLC purchased a new stake in Silicon Laboratories in the fourth quarter valued at approximately $32,000. Covestor Ltd raised its stake in Silicon Laboratories by 260.3% in the fourth quarter. Covestor Ltd now owns 281 shares of the semiconductor company’s stock valued at $37,000 after purchasing an additional 203 shares in the last quarter. Kemnay Advisory Services Inc. bought a new stake in Silicon Laboratories during the fourth quarter valued at approximately $44,000. Finally, Jones Financial Companies Lllp lifted its position in Silicon Laboratories by 121.4% during the first quarter. Jones Financial Companies Lllp now owns 496 shares of the semiconductor company’s stock valued at $56,000 after purchasing an additional 272 shares during the last quarter.

Silicon Laboratories Stock Performance

Shares of Silicon Laboratories stock opened at $217.50 on Monday. The firm has a market capitalization of $7.17 billion, a PE ratio of -142.16 and a beta of 1.36. Silicon Laboratories, Inc. has a 12 month low of $115.50 and a 12 month high of $220.90. The business’s 50-day moving average price is $218.26 and its 200-day moving average price is $205.40.

Silicon Laboratories (NASDAQ:SLAB) last issued its earnings results on Tuesday, May 5th. The semiconductor company reported $0.53 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.49 by $0.04. Silicon Laboratories had a negative return on equity of 2.18% and a negative net margin of 6.13%.The business had revenue of $213.50 million during the quarter, compared to analyst estimates of $214.02 million. During the same quarter in the prior year, the firm earned ($0.08) earnings per share. Silicon Laboratories’s revenue for the quarter was up 20.1% on a year-over-year basis. As a group, analysts predict that Silicon Laboratories, Inc. will post 0.74 earnings per share for the current fiscal year.

Insider Activity

In other news, CEO Robert Matthew Johnson sold 8,024 shares of the company’s stock in a transaction on Monday, May 18th. The shares were sold at an average price of $216.83, for a total value of $1,739,843.92. Following the completion of the sale, the chief executive officer owned 80,519 shares of the company’s stock, 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 Securities & Exchange Commission, which is accessible through this link. Company insiders own 1.60% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reissued a “sell (d-)” rating on shares of Silicon Laboratories in a research note on Wednesday, June 24th. Seven equities research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Reduce” and a consensus price target of $177.50.

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.