Principal Financial Group Inc. Buys 3,332 Shares of Silicon Laboratories, Inc. $SLAB

Principal Financial Group Inc. lifted its stake in shares of Silicon Laboratories, Inc. (NASDAQ:SLAB) by 4.6% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 75,009 shares of the semiconductor company’s stock after purchasing an additional 3,332 shares during the period. Principal Financial Group Inc. owned 0.23% of Silicon Laboratories worth $15,613,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Kestra Advisory Services LLC bought a new stake in Silicon Laboratories during the fourth quarter worth $32,000. Covestor Ltd lifted its stake in Silicon Laboratories by 260.3% in the fourth quarter. Covestor Ltd now owns 281 shares of the semiconductor company’s stock valued at $37,000 after acquiring an additional 203 shares during the last quarter. Kemnay Advisory Services Inc. bought a new position in shares of Silicon Laboratories in the 4th quarter valued at about $44,000. Jones Financial Companies Lllp increased its stake in shares of Silicon Laboratories by 121.4% during 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 last quarter. Finally, Global Retirement Partners LLC increased its stake in shares of Silicon Laboratories by 37.3% during 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 last quarter.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reiterated a “sell (d-)” rating on shares of Silicon Laboratories in a research note on Wednesday, June 24th. Seven investment 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, the stock has an average rating of “Reduce” and an average target price of $177.50.

Insider Activity

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

Silicon Laboratories Price Performance

Shares of NASDAQ SLAB opened at $216.76 on Friday. The stock’s fifty day moving average price is $218.24 and its two-hundred day moving average price is $202.36. Silicon Laboratories, Inc. has a one year low of $115.50 and a one year high of $220.90. The firm has a market cap of $7.15 billion, a price-to-earnings ratio of -141.67 and a beta of 1.36.

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

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.