Hsbc Holdings PLC Acquires 202,513 Shares of Silicon Laboratories, Inc. $SLAB

Hsbc Holdings PLC increased its holdings in shares of Silicon Laboratories, Inc. (NASDAQ:SLABFree Report) by 1,752.1% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 214,071 shares of the semiconductor company’s stock after acquiring an additional 202,513 shares during the period. Hsbc Holdings PLC’s holdings in Silicon Laboratories were worth $44,358,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in SLAB. Vanguard Group Inc. raised its position in Silicon Laboratories by 3.1% in the fourth quarter. Vanguard Group Inc. now owns 3,992,407 shares of the semiconductor company’s stock worth $521,808,000 after purchasing an additional 121,432 shares in the last quarter. State Street Corp grew its stake in shares of Silicon Laboratories by 0.5% in the 2nd quarter. State Street Corp now owns 1,517,813 shares of the semiconductor company’s stock valued at $223,665,000 after purchasing an additional 7,139 shares during the period. Invesco Ltd. grew its stake in shares of Silicon Laboratories by 12.9% in the 4th quarter. Invesco Ltd. now owns 852,493 shares of the semiconductor company’s stock valued at $111,421,000 after purchasing an additional 97,351 shares during the period. Geode Capital Management LLC raised its holdings in shares of Silicon Laboratories by 1.0% in the 4th quarter. Geode Capital Management LLC now owns 824,771 shares of the semiconductor company’s stock worth $107,814,000 after buying an additional 7,921 shares in the last quarter. Finally, AQR Capital Management LLC raised its holdings in shares of Silicon Laboratories by 89.5% in the 3rd quarter. AQR Capital Management LLC now owns 701,919 shares of the semiconductor company’s stock worth $91,109,000 after buying an additional 331,427 shares in the last quarter.

Silicon Laboratories Stock Performance

Shares of SLAB stock opened at $217.36 on Tuesday. The stock’s fifty day moving average is $218.23 and its 200-day moving average is $200.54. The stock has a market capitalization of $7.17 billion, a PE ratio of -142.07 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 (EPS) for the quarter, beating analysts’ consensus estimates of $0.49 by $0.04. The business had revenue of $213.50 million during the quarter, compared to analysts’ expectations of $214.02 million. Silicon Laboratories had a negative return on equity of 2.18% and a negative net margin of 6.13%.The firm’s revenue for the quarter was up 20.1% compared to the same quarter last year. During the same period in the previous year, the business posted ($0.08) earnings per share. As a group, analysts forecast that Silicon Laboratories, Inc. will post 0.74 earnings per share for the current fiscal year.

Insider Buying and Selling at Silicon Laboratories

In other news, CEO Robert Matthew Johnson sold 8,024 shares of the company’s stock in a transaction that occurred on 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 ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 1.60% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Silicon Laboratories in a research note on Wednesday, June 24th. Eight research analysts have rated the stock with a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Reduce” and a consensus target price of $172.00.

Read Our Latest 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.

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

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