Hsbc Holdings PLC Boosts Stake in Silicon Laboratories, Inc. $SLAB

Hsbc Holdings PLC raised its position in Silicon Laboratories, Inc. (NASDAQ:SLABFree Report) by 74.3% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 11,558 shares of the semiconductor company’s stock after purchasing an additional 4,927 shares during the quarter. Hsbc Holdings PLC’s holdings in Silicon Laboratories were worth $1,516,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Kestra Advisory Services LLC acquired a new position in Silicon Laboratories during the fourth quarter valued at approximately $32,000. Covestor Ltd increased its position in shares of Silicon Laboratories by 260.3% in the fourth quarter. Covestor Ltd now owns 281 shares of the semiconductor company’s stock worth $37,000 after acquiring an additional 203 shares in the last quarter. Kemnay Advisory Services Inc. acquired a new stake in shares of Silicon Laboratories in the fourth quarter worth $44,000. Jones Financial Companies Lllp raised its stake in shares of Silicon Laboratories by 121.4% in the 1st quarter. Jones Financial Companies Lllp now owns 496 shares of the semiconductor company’s stock valued at $56,000 after acquiring an additional 272 shares during the period. Finally, Global Retirement Partners LLC raised its stake in shares of Silicon Laboratories by 37.3% in the 4th quarter. Global Retirement Partners LLC now owns 497 shares of the semiconductor company’s stock valued at $65,000 after acquiring an additional 135 shares during the period.

Insider Activity at Silicon Laboratories

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 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 ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 1.60% of the company’s stock.

Silicon Laboratories Stock Performance

Shares of NASDAQ:SLAB traded down $0.05 during mid-day trading on Friday, hitting $218.63. 384,428 shares of the company traded hands, compared to its average volume of 505,684. The firm’s 50 day simple moving average is $218.16 and its 200 day simple moving average is $196.56. The firm has a market cap of $7.21 billion, a P/E ratio of -142.90 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:SLABGet Free Report) last released its quarterly earnings results on Tuesday, May 5th. The semiconductor company reported $0.53 earnings per share for the quarter, topping analysts’ consensus estimates 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 firm had revenue of $213.50 million during the quarter, compared to analysts’ expectations of $214.02 million. During the same quarter in the prior year, the business earned ($0.08) EPS. Silicon Laboratories’s quarterly revenue was up 20.1% compared to the same quarter last year. Equities research analysts expect that Silicon Laboratories, Inc. will post 0.74 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Silicon Laboratories in a research report on Wednesday, June 24th. One analyst has rated the stock with a Buy rating, eight have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, Silicon Laboratories currently has a consensus rating of “Hold” and a consensus price target of $170.00.

View Our Latest Stock Analysis on SLAB

Silicon Laboratories Company Profile

(Free Report)

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.

Recommended Stories

Want to see what other hedge funds are holding SLAB? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Silicon Laboratories, Inc. (NASDAQ:SLABFree Report).

Institutional Ownership by Quarter for Silicon Laboratories (NASDAQ:SLAB)

Receive News & Ratings for Silicon Laboratories Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Silicon Laboratories and related companies with MarketBeat.com's FREE daily email newsletter.