Lazard Asset Management LLC Buys New Position in Silicon Laboratories, Inc. $SLAB

Lazard Asset Management LLC bought a new stake in shares of Silicon Laboratories, Inc. (NASDAQ:SLAB) in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 9,131 shares of the semiconductor company’s stock, valued at approximately $1,901,000.

Several other institutional investors have also added to or reduced their stakes in the business. Kestra Advisory Services LLC purchased a new position in shares of Silicon Laboratories during the 4th quarter worth $32,000. Covestor Ltd increased its stake in shares of Silicon Laboratories by 260.3% in the 4th quarter. Covestor Ltd now owns 281 shares of the semiconductor company’s stock worth $37,000 after purchasing an additional 203 shares in the last quarter. Kemnay Advisory Services Inc. purchased a new stake in shares of Silicon Laboratories in the 4th quarter worth $44,000. Jones Financial Companies Lllp raised its holdings in Silicon Laboratories by 121.4% in the 1st quarter. Jones Financial Companies Lllp now owns 496 shares of the semiconductor company’s stock worth $56,000 after purchasing an additional 272 shares during the period. Finally, Global Retirement Partners LLC raised its holdings in Silicon Laboratories by 37.3% in the 4th quarter. Global Retirement Partners LLC now owns 497 shares of the semiconductor company’s stock worth $65,000 after purchasing an additional 135 shares during the period.

Insider Buying and Selling

In other Silicon Laboratories news, CEO Robert Matthew Johnson sold 8,024 shares of the business’s 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 sale, the chief executive officer owned 80,519 shares in the company, valued at $17,458,934.77. The trade was a 9.06% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 1.60% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

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

Silicon Laboratories Price Performance

SLAB stock opened at $218.00 on Tuesday. The company has a market capitalization of $7.19 billion, a price-to-earnings ratio of -142.48 and a beta of 1.37. Silicon Laboratories, Inc. has a 1-year low of $115.50 and a 1-year high of $220.90. The business has a 50 day simple moving average of $218.27 and a two-hundred day simple moving average of $205.91.

Silicon Laboratories (NASDAQ:SLAB) last released its earnings results on Tuesday, May 5th. The semiconductor company reported $0.53 EPS for the quarter, topping the consensus estimate of $0.49 by $0.04. The firm had revenue of $213.50 million for the quarter, compared to the consensus estimate of $214.02 million. Silicon Laboratories had a negative net margin of 6.13% and a negative return on equity of 2.18%. The company’s quarterly revenue was up 20.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.08) earnings per share. Sell-side analysts anticipate that Silicon Laboratories, Inc. will post 0.74 EPS for the current fiscal 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.