Van ECK Associates Corp Boosts Stake in Silicon Laboratories, Inc. $SLAB

Van ECK Associates Corp boosted its position in shares of Silicon Laboratories, Inc. (NASDAQ:SLABFree Report) by 70.6% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 26,811 shares of the semiconductor company’s stock after buying an additional 11,092 shares during the period. Van ECK Associates Corp’s holdings in Silicon Laboratories were worth $5,860,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. California State Teachers Retirement System boosted its position in shares of Silicon Laboratories by 21.5% during the 1st quarter. California State Teachers Retirement System now owns 38,003 shares of the semiconductor company’s stock valued at $7,910,000 after acquiring an additional 6,737 shares during the last quarter. BlackRock Inc. bought a new stake in Silicon Laboratories in the second quarter worth $1,135,435,000. Assenagon Asset Management S.A. increased its position in Silicon Laboratories by 395.2% in the first quarter. Assenagon Asset Management S.A. now owns 239,318 shares of the semiconductor company’s stock worth $49,814,000 after purchasing an additional 190,994 shares during the last quarter. Hsbc Holdings PLC raised its stake in Silicon Laboratories by 74.3% during the fourth quarter. Hsbc Holdings PLC now owns 11,558 shares of the semiconductor company’s stock valued at $1,516,000 after purchasing an additional 4,927 shares in the last quarter. Finally, SEB Asset Management AB purchased a new stake in Silicon Laboratories during the first quarter valued at $1,562,000.

Silicon Laboratories Stock Performance

NASDAQ SLAB opened at $220.23 on Thursday. The company has a market cap of $7.35 billion, a P/E ratio of -186.64 and a beta of 1.36. The business’s 50 day moving average price is $218.22 and its 200-day moving average price is $214.24. Silicon Laboratories, Inc. has a fifty-two week low of $115.50 and a fifty-two week high of $220.90.

Silicon Laboratories (NASDAQ:SLABGet Free Report) last issued its quarterly earnings results on Tuesday, August 11th. The semiconductor company reported $0.71 earnings per share (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 during the quarter, compared to the consensus estimate of $227.99 million. During the same period last year, the company earned $0.11 earnings per share. Silicon Laboratories’s revenue was up 18.3% on a year-over-year basis. As a group, equities analysts predict that Silicon Laboratories, Inc. will post 0.52 EPS for the current year.

Analyst Upgrades and Downgrades

A number of brokerages have commented on SLAB. Weiss Ratings reissued a “sell (d-)” rating on shares of Silicon Laboratories in a research note on Wednesday, June 24th. Zacks Research cut shares of Silicon Laboratories from a “hold” rating to a “strong sell” rating in a research report on Tuesday, August 18th. Five analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of “Reduce” and an average price target of $218.00.

Check Out 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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