GSA Capital Partners LLP Acquires New Shares in Silicon Laboratories, Inc. $SLAB

GSA Capital Partners LLP acquired a new position in Silicon Laboratories, Inc. (NASDAQ:SLAB) in the 2nd quarter, Holdings Channel reports. The firm acquired 10,880 shares of the semiconductor company’s stock, valued at approximately $2,378,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in SLAB. Harbor Investment Advisory LLC purchased a new stake in Silicon Laboratories in the second quarter valued at $28,000. Empowered Funds LLC grew its holdings in shares of Silicon Laboratories by 38.5% during the 1st quarter. Empowered Funds LLC now owns 4,082 shares of the semiconductor company’s stock worth $850,000 after purchasing an additional 1,134 shares during the period. Carmignac Gestion acquired a new stake in shares of Silicon Laboratories during the 1st quarter worth about $5,796,000. Parallel Advisors LLC increased its position in shares of Silicon Laboratories by 18.4% during the 1st quarter. Parallel Advisors LLC now owns 1,276 shares of the semiconductor company’s stock worth $266,000 after purchasing an additional 198 shares during the last quarter. Finally, Carlson Capital L.P. purchased a new stake in Silicon Laboratories in the 1st quarter valued at about $770,000.

Silicon Laboratories Stock Up 0.1%

Shares of NASDAQ SLAB opened at $218.41 on Friday. The firm has a market cap of $7.29 billion, a price-to-earnings ratio of -185.09 and a beta of 1.37. Silicon Laboratories, Inc. has a 52-week low of $115.50 and a 52-week high of $220.90. The business’s 50 day moving average is $218.29 and its two-hundred day moving average is $209.88.

Silicon Laboratories (NASDAQ:SLAB) last released its quarterly earnings results on Tuesday, August 11th. The semiconductor company reported $0.71 EPS for the quarter, topping analysts’ consensus estimates of $0.69 by $0.02. Silicon Laboratories had a negative return on equity of 0.66% and a negative net margin of 4.57%.The company had revenue of $228.19 million for the quarter, compared to analysts’ expectations of $227.99 million. During the same period in the prior year, the firm earned $0.11 earnings per share. The firm’s revenue was up 18.3% compared to the same quarter last year. Analysts anticipate that Silicon Laboratories, Inc. will post 0.74 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reaffirmed 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 one has issued a Sell rating to the stock. Based on data from MarketBeat, Silicon Laboratories currently has an average rating of “Reduce” and a consensus target price of $218.00.

Insider Activity

In related news, CEO Robert Matthew Johnson sold 8,024 shares of the stock in a transaction dated Monday, May 18th. The stock was sold at an average price of $216.83, for a total transaction of $1,739,843.92. Following the transaction, 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, 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.