Algert Global LLC Trims Position in Silicon Laboratories, Inc. $SLAB

Algert Global LLC lowered its holdings in Silicon Laboratories, Inc. (NASDAQ:SLAB) by 6.5% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 92,515 shares of the semiconductor company’s stock after selling 6,444 shares during the period. Algert Global LLC owned approximately 0.28% of Silicon Laboratories worth $12,131,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. grew its position in Silicon Laboratories by 1.9% during the third quarter. Vanguard Group Inc. now owns 3,870,975 shares of the semiconductor company’s stock valued at $507,601,000 after acquiring an additional 73,773 shares during the last quarter. State Street Corp boosted its holdings in shares of Silicon Laboratories by 0.5% during the second quarter. State Street Corp now owns 1,517,813 shares of the semiconductor company’s stock worth $223,665,000 after purchasing an additional 7,139 shares during the period. Geode Capital Management LLC grew its stake in shares of Silicon Laboratories by 0.9% in the second quarter. Geode Capital Management LLC now owns 810,736 shares of the semiconductor company’s stock worth $119,484,000 after purchasing an additional 7,519 shares during the last quarter. Invesco Ltd. grew its stake in shares of Silicon Laboratories by 3.5% in the third quarter. Invesco Ltd. now owns 755,142 shares of the semiconductor company’s stock worth $99,022,000 after purchasing an additional 25,273 shares during the last quarter. Finally, AQR Capital Management LLC increased its stake in shares of Silicon Laboratories by 89.5% during the third quarter. AQR Capital Management LLC now owns 701,919 shares of the semiconductor company’s stock valued at $91,109,000 after buying an additional 331,427 shares during the period.

Analyst Ratings Changes

Several brokerages recently issued reports on SLAB. Weiss Ratings reiterated a “sell (d-)” rating on shares of Silicon Laboratories in a research report on Monday, December 29th. Royal Bank Of Canada increased their target price on Silicon Laboratories from $160.00 to $205.00 and gave the stock a “sector perform” rating in a research note on Thursday, February 5th. Citigroup raised their price target on shares of Silicon Laboratories from $135.00 to $231.00 and gave the company a “neutral” rating in a research report on Friday, February 6th. KeyCorp downgraded Silicon Laboratories from an “overweight” rating to a “hold” rating in a report on Wednesday, February 4th. Finally, Benchmark downgraded shares of Silicon Laboratories from a “buy” rating to a “hold” rating in a research report on Wednesday, February 4th. One research analyst has rated the stock with a Buy rating, eight have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $167.78.

Insider Activity at Silicon Laboratories

In related news, Director Nina Richardson sold 1,355 shares of the business’s stock in a transaction dated Tuesday, January 13th. The stock was sold at an average price of $149.00, for a total value of $201,895.00. Following the sale, the director directly owned 8,543 shares in the company, valued at approximately $1,272,907. The trade was a 13.69% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.60% of the stock is owned by company insiders.

Silicon Laboratories Price Performance

Shares of NASDAQ:SLAB opened at $203.00 on Monday. The company has a market capitalization of $6.69 billion, a P/E ratio of -102.01 and a beta of 1.45. The firm’s 50 day simple moving average is $178.65 and its two-hundred day simple moving average is $148.50. Silicon Laboratories, Inc. has a 1-year low of $82.82 and a 1-year high of $208.84.

Silicon Laboratories (NASDAQ:SLAB) last issued its quarterly earnings results on Wednesday, February 4th. The semiconductor company reported $0.56 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.54 by $0.02. The business had revenue of $208.21 million during the quarter, compared to analyst estimates of $207.63 million. Silicon Laboratories had a negative return on equity of 4.07% and a negative net margin of 8.27%.Silicon Laboratories’s revenue for the quarter was up 25.3% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($0.11) EPS. On average, sell-side analysts anticipate that Silicon Laboratories, Inc. will post -0.97 earnings per share for the current fiscal 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.