Man Group plc acquired a new stake in Silicon Laboratories, Inc. (NASDAQ:SLAB – Free Report) in the second quarter, HoldingsChannel.com reports. The fund acquired 143,337 shares of the semiconductor company’s stock, valued at approximately $31,328,000.
A number of other hedge funds also recently made changes to their positions in SLAB. Harbor Investment Advisory LLC bought a new stake in Silicon Laboratories in the 2nd quarter valued at $28,000. Allworth Financial LP bought a new position in Silicon Laboratories during the second quarter worth $42,000. EverSource Wealth Advisors LLC boosted its position in 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 during the period. Kestra Advisory Services LLC acquired a new position in shares of Silicon Laboratories in the fourth quarter valued at $32,000. Finally, Covestor Ltd increased its holdings in shares of 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 during the last quarter.
Analysts Set New Price Targets
A number of analysts have recently issued reports on the stock. Weiss Ratings restated a “sell (d-)” rating on shares of Silicon Laboratories in a research note on Wednesday, June 24th. Zacks Research lowered shares of Silicon Laboratories from a “hold” rating to a “strong sell” rating in a research note on Tuesday, August 18th. Five analysts have rated the stock with a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, Silicon Laboratories currently has an average rating of “Reduce” and an average target price of $218.00.
Silicon Laboratories Trading Up 0.2%
Shares of NASDAQ SLAB opened at $218.83 on Thursday. The firm has a market cap of $7.30 billion, a P/E ratio of -185.45 and a beta of 1.37. The business’s 50 day moving average is $218.23 and its 200-day moving average is $213.79. Silicon Laboratories, Inc. has a 1-year low of $115.50 and a 1-year high of $220.90.
Silicon Laboratories (NASDAQ:SLAB – Get Free Report) last released its quarterly earnings results on Tuesday, August 11th. The semiconductor company reported $0.71 earnings per share (EPS) for the quarter, beating the consensus estimate 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 business had revenue of $228.19 million during the quarter, compared to the consensus estimate of $227.99 million. During the same period in the previous year, the company posted $0.11 EPS. The firm’s quarterly revenue was up 18.3% on a year-over-year basis. Analysts forecast that Silicon Laboratories, Inc. will post 0.52 EPS for the current year.
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.
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