Polar Asset Management Partners Inc. Purchases New Position in Silicon Laboratories, Inc. $SLAB

Polar Asset Management Partners Inc. acquired a new stake in Silicon Laboratories, Inc. (NASDAQ:SLAB) in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 5,000 shares of the semiconductor company’s stock, valued at approximately $1,041,000.

Other hedge funds also recently made changes to their positions in the company. Kestra Advisory Services LLC acquired a new stake in shares of Silicon Laboratories during the fourth quarter worth about $32,000. Covestor Ltd lifted its holdings in shares of Silicon Laboratories by 260.3% in the 4th 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. Kemnay Advisory Services Inc. purchased a new stake in shares of Silicon Laboratories in the 4th quarter valued at about $44,000. Jones Financial Companies Lllp boosted its position 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 purchasing an additional 272 shares during the period. Finally, Global Retirement Partners LLC boosted its position 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 purchasing an additional 135 shares during the period.

Insiders Place Their Bets

In related news, CEO Robert Matthew Johnson sold 8,024 shares of Silicon Laboratories 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 transaction, the chief executive officer directly owned 80,519 shares in the company, valued at $17,458,934.77. This trade represents a 9.06% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 1.60% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Separately, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Silicon Laboratories in a research report on Wednesday, June 24th. Seven investment analysts have rated the stock with a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Reduce” and a consensus price target of $177.50.

Silicon Laboratories Trading Up 0.2%

Silicon Laboratories stock opened at $217.29 on Tuesday. Silicon Laboratories, Inc. has a twelve month low of $115.50 and a twelve month high of $220.90. The stock has a 50 day moving average of $218.26 and a two-hundred day moving average of $203.40. The stock has a market capitalization of $7.17 billion, a price-to-earnings ratio of -142.02 and a beta of 1.36.

Silicon Laboratories (NASDAQ:SLAB) last announced its earnings results on Tuesday, May 5th. The semiconductor company reported $0.53 earnings per share for the quarter, beating the consensus estimate 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 company had revenue of $213.50 million for the quarter, compared to the consensus estimate of $214.02 million. During the same period last year, the business posted ($0.08) EPS. The company’s revenue was up 20.1% on a year-over-year basis. Equities analysts predict that Silicon Laboratories, Inc. will post 0.74 earnings per share 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.