3,700 Shares in Silicon Laboratories, Inc. $SLAB Bought by Carlson Capital L.P.

Carlson Capital L.P. bought a new position in shares of Silicon Laboratories, Inc. (NASDAQ:SLAB) in the first quarter, according to the company in its most recent filing with the SEC. The institutional investor bought 3,700 shares of the semiconductor company’s stock, valued at approximately $770,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of SLAB. Glenmede Trust Co. NA boosted its position in shares of Silicon Laboratories by 7.7% during the first quarter. Glenmede Trust Co. NA now owns 5,455 shares of the semiconductor company’s stock worth $1,135,000 after buying an additional 389 shares during the period. Groupe la Francaise acquired a new stake in Silicon Laboratories in the 1st quarter valued at approximately $1,898,000. Cim Investment Management Inc. bought a new stake in Silicon Laboratories in the 1st quarter valued at approximately $223,000. EverSource Wealth Advisors LLC lifted its stake in Silicon Laboratories by 66.7% in the 1st quarter. EverSource Wealth Advisors LLC now owns 225 shares of the semiconductor company’s stock valued at $47,000 after acquiring an additional 90 shares in the last quarter. Finally, California State Teachers Retirement System lifted its stake in Silicon Laboratories by 21.5% in the 1st quarter. California State Teachers Retirement System now owns 38,003 shares of the semiconductor company’s stock valued at $7,910,000 after acquiring an additional 6,737 shares in the last quarter.

Wall Street Analysts Forecast Growth

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

Insider Activity

In other 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 value of $1,739,843.92. Following the completion of the sale, the chief executive officer owned 80,519 shares of the company’s stock, valued at approximately $17,458,934.77. This represents a 9.06% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 1.60% of the stock is currently owned by corporate insiders.

Silicon Laboratories Price Performance

Silicon Laboratories stock opened at $217.50 on Friday. The company has a market cap of $7.17 billion, a price-to-earnings ratio of -142.16 and a beta of 1.36. The firm has a 50-day moving average of $218.26 and a 200-day moving average of $204.98. Silicon Laboratories, Inc. has a one year low of $115.50 and a one year high of $220.90.

Silicon Laboratories (NASDAQ:SLAB) last released its earnings results on Tuesday, May 5th. The semiconductor company reported $0.53 earnings per share (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 the consensus estimate of $214.02 million. During the same quarter in the previous year, the business earned ($0.08) earnings per share. Silicon Laboratories’s quarterly revenue was up 20.1% on a year-over-year basis. As a group, sell-side analysts expect that Silicon Laboratories, Inc. will post 0.74 earnings per share 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.