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

Principal Financial Group Inc. grew its position in Silicon Laboratories, Inc. (NASDAQ:SLAB) by 4.6% in the 1st quarter, Holdings Channel.com reports. The institutional investor owned 75,009 shares of the semiconductor company’s stock after purchasing an additional 3,332 shares during the quarter. Principal Financial Group Inc.’s holdings in Silicon Laboratories were worth $15,613,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in SLAB. Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its position in shares of Silicon Laboratories by 122.1% during the 1st quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 18,257 shares of the semiconductor company’s stock worth $3,800,000 after acquiring an additional 10,036 shares in the last quarter. Fifth Third Bancorp raised its position in Silicon Laboratories by 2,797.7% during the first quarter. Fifth Third Bancorp now owns 7,621 shares of the semiconductor company’s stock valued at $1,586,000 after purchasing an additional 7,358 shares in the last quarter. Sequoia Financial Advisors LLC bought a new stake in Silicon Laboratories during the first quarter worth $253,000. Kornitzer Capital Management Inc. KS lifted its stake in Silicon Laboratories by 1.1% during the first quarter. Kornitzer Capital Management Inc. KS now owns 63,010 shares of the semiconductor company’s stock worth $13,116,000 after purchasing an additional 680 shares during the last quarter. Finally, Hsbc Holdings PLC boosted its holdings in shares of Silicon Laboratories by 1,752.1% in the 1st quarter. Hsbc Holdings PLC now owns 214,071 shares of the semiconductor company’s stock valued at $44,358,000 after purchasing an additional 202,513 shares in the last quarter.

Analyst Upgrades and Downgrades

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

Insiders Place Their Bets

In other Silicon Laboratories news, CEO Robert Matthew Johnson sold 8,024 shares of the business’s stock in a transaction that occurred on Monday, May 18th. The shares were sold at an average price of $216.83, for a total transaction of $1,739,843.92. Following the sale, the chief executive officer directly owned 80,519 shares of the company’s stock, valued at $17,458,934.77. The trade was a 9.06% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 1.60% of the stock is owned by insiders.

Silicon Laboratories Stock Down 0.2%

Shares of SLAB opened at $216.76 on Friday. The stock has a market cap of $7.15 billion, a PE ratio of -141.67 and a beta of 1.36. Silicon Laboratories, Inc. has a 12-month low of $115.50 and a 12-month high of $220.90. The business has a 50-day simple moving average of $218.24 and a two-hundred day simple moving average of $202.36.

Silicon Laboratories (NASDAQ:SLAB) last released its quarterly earnings results 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. 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 analysts’ expectations of $214.02 million. During the same period in the previous year, the business posted ($0.08) earnings per share. The business’s quarterly revenue was up 20.1% compared to the same quarter last year. On average, equities research analysts expect that Silicon Laboratories, Inc. will post 0.74 EPS for the current 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.