Groupe la Francaise decreased its position in shares of Silicon Laboratories, Inc. (NASDAQ:SLAB – Free Report) by 87.5% during the 2nd quarter, HoldingsChannel reports. The fund owned 1,140 shares of the semiconductor company’s stock after selling 7,980 shares during the quarter. Groupe la Francaise’s holdings in Silicon Laboratories were worth $249,000 at the end of the most recent quarter.
A number of other hedge funds have also recently modified their holdings of the company. California State Teachers Retirement System increased its position in Silicon Laboratories by 21,812.4% during the second quarter. California State Teachers Retirement System now owns 8,327,355 shares of the semiconductor company’s stock worth $1,820,027,000 after purchasing an additional 8,289,352 shares during the last quarter. BlackRock Inc. purchased a new stake in shares of Silicon Laboratories in the 2nd quarter valued at approximately $1,135,435,000. Pentwater Capital Management LP purchased a new stake in shares of Silicon Laboratories in the 2nd quarter valued at approximately $162,111,000. Norges Bank acquired a new stake in shares of Silicon Laboratories during the 4th quarter worth approximately $56,008,000. Finally, Thrivent Financial for Lutherans increased its holdings in shares of Silicon Laboratories by 312.9% during the 4th quarter. Thrivent Financial for Lutherans now owns 467,958 shares of the semiconductor company’s stock worth $61,162,000 after buying an additional 354,621 shares during the last quarter.
Silicon Laboratories Stock Performance
NASDAQ:SLAB opened at $220.00 on Wednesday. Silicon Laboratories, Inc. has a fifty-two week low of $115.50 and a fifty-two week high of $222.49. The company has a 50 day moving average price of $218.38 and a 200 day moving average price of $214.63. The stock has a market capitalization of $7.34 billion, a P/E ratio of -186.44 and a beta of 1.36.
Analysts Set New Price Targets
SLAB has been the topic of a number of recent analyst reports. Zacks Research cut Silicon Laboratories from a “hold” rating to a “strong sell” rating in a report on Tuesday, August 18th. Weiss Ratings reissued a “sell (d-)” rating on shares of Silicon Laboratories in a research note on Wednesday, June 24th. Five analysts have rated the stock with a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat, the company has an average rating of “Reduce” and an average price target of $218.00.
Check Out Our Latest Stock Analysis on SLAB
Silicon Laboratories Company 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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