Sona Asset Management US LLC Purchases New Stake in Silicon Laboratories, Inc. $SLAB

Sona Asset Management US LLC acquired a new position in shares of Silicon Laboratories, Inc. (NASDAQ:SLAB) in the first quarter, Holdings Channel.com reports. The institutional investor acquired 175,059 shares of the semiconductor company’s stock, valued at approximately $36,439,000. Silicon Laboratories makes up about 0.8% of Sona Asset Management US LLC’s holdings, making the stock its 22nd biggest holding.

Several other hedge funds have also added to or reduced their stakes in the stock. Kestra Advisory Services LLC purchased a new position in Silicon Laboratories in the fourth quarter valued at about $32,000. Covestor Ltd increased its stake in shares of Silicon Laboratories by 260.3% during the 4th quarter. Covestor Ltd now owns 281 shares of the semiconductor company’s stock worth $37,000 after purchasing an additional 203 shares during the last quarter. Kemnay Advisory Services Inc. bought a new stake in shares of Silicon Laboratories in the 4th quarter worth approximately $44,000. Jones Financial Companies Lllp raised its holdings in shares of 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 lifted its stake in Silicon Laboratories by 37.3% in the fourth quarter. Global Retirement Partners LLC now owns 497 shares of the semiconductor company’s stock valued at $65,000 after purchasing an additional 135 shares during the last quarter.

Insider Buying and Selling

In related news, CEO Robert Matthew Johnson sold 8,024 shares of Silicon Laboratories stock in a transaction that occurred 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 completion of the transaction, the chief executive officer directly owned 80,519 shares in the company, valued at approximately $17,458,934.77. The trade was a 9.06% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 1.60% of the company’s stock.

Silicon Laboratories Stock Performance

Shares of Silicon Laboratories stock opened at $216.88 on Monday. The stock has a market capitalization of $7.15 billion, a P/E ratio of -141.75 and a beta of 1.36. Silicon Laboratories, Inc. has a 52-week low of $115.50 and a 52-week high of $220.90. The stock’s 50-day simple moving average is $218.24 and its 200 day simple moving average is $202.91.

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

Analysts Set New Price Targets

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 stock. According to data from MarketBeat.com, Silicon Laboratories has an average rating of “Reduce” and an average price target of $177.50.

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.