DLD Asset Management LP Purchases Shares of 3,650 Silicon Laboratories, Inc. $SLAB

DLD Asset Management LP acquired a new position in Silicon Laboratories, Inc. (NASDAQ:SLAB) during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 3,650 shares of the semiconductor company’s stock, valued at approximately $760,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Norges Bank purchased a new stake in Silicon Laboratories during the fourth quarter valued at approximately $56,008,000. Thrivent Financial for Lutherans raised its position in Silicon Laboratories by 312.9% in the fourth quarter. Thrivent Financial for Lutherans now owns 467,958 shares of the semiconductor company’s stock worth $61,162,000 after acquiring an additional 354,621 shares during the period. AQR Capital Management LLC boosted its stake in shares of Silicon Laboratories by 1,970.7% during the 2nd quarter. AQR Capital Management LLC now owns 370,492 shares of the semiconductor company’s stock worth $54,516,000 after acquiring an additional 352,600 shares during the last quarter. Westfield Capital Management Co. LP boosted its stake in shares of Silicon Laboratories by 59.9% during the 4th quarter. Westfield Capital Management Co. LP now owns 547,403 shares of the semiconductor company’s stock worth $71,546,000 after acquiring an additional 205,093 shares during the last quarter. Finally, Hsbc Holdings PLC grew its position in shares of Silicon Laboratories by 1,752.1% during the 1st quarter. Hsbc Holdings PLC now owns 214,071 shares of the semiconductor company’s stock valued at $44,358,000 after acquiring an additional 202,513 shares during the period.

Analysts Set New Price Targets

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

Insider Buying and Selling

In other Silicon Laboratories news, CEO Robert Matthew Johnson sold 8,024 shares of the company’s stock in a transaction that occurred on Monday, May 18th. The stock was sold at an average price of $216.83, for a total value of $1,739,843.92. Following the completion of the transaction, the chief executive officer directly owned 80,519 shares in the company, valued at $17,458,934.77. This represents a 9.06% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Corporate insiders own 1.60% of the company’s stock.

Silicon Laboratories Stock Performance

Shares of Silicon Laboratories stock opened at $217.17 on Thursday. The company has a market capitalization of $7.16 billion, a P/E ratio of -141.94 and a beta of 1.36. The company has a fifty day moving average of $218.25 and a 200 day moving average of $201.76. Silicon Laboratories, Inc. has a fifty-two week low of $115.50 and a fifty-two week high of $220.90.

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

About Silicon Laboratories

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.