HBK Investments L P Acquires Shares of 1,000,000 Silicon Laboratories, Inc. $SLAB

HBK Investments L P bought a new stake in Silicon Laboratories, Inc. (NASDAQ:SLAB) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 1,000,000 shares of the semiconductor company’s stock, valued at approximately $218,560,000. Silicon Laboratories accounts for about 2.1% of HBK Investments L P’s portfolio, making the stock its 14th biggest position. HBK Investments L P owned about 3.00% of Silicon Laboratories at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the company. Sequoia Financial Advisors LLC increased its holdings in Silicon Laboratories by 191.3% during the 2nd quarter. Sequoia Financial Advisors LLC now owns 3,539 shares of the semiconductor company’s stock worth $773,000 after purchasing an additional 2,324 shares during the period. Tidal Investments LLC grew its position in shares of Silicon Laboratories by 99.1% during the 2nd quarter. Tidal Investments LLC now owns 4,936 shares of the semiconductor company’s stock worth $1,079,000 after buying an additional 2,457 shares in the last quarter. WINTON GROUP Ltd increased its stake in shares of Silicon Laboratories by 2.4% during the second quarter. WINTON GROUP Ltd now owns 55,098 shares of the semiconductor company’s stock valued at $12,042,000 after buying an additional 1,272 shares during the period. Engineers Gate Manager LP increased its stake in shares of Silicon Laboratories by 45.6% during the second quarter. Engineers Gate Manager LP now owns 33,304 shares of the semiconductor company’s stock valued at $7,279,000 after buying an additional 10,424 shares during the period. Finally, Squarepoint Ops LLC increased its stake in shares of Silicon Laboratories by 2.9% during the second quarter. Squarepoint Ops LLC now owns 114,521 shares of the semiconductor company’s stock valued at $25,030,000 after buying an additional 3,231 shares during the period.

Analyst Ratings Changes

SLAB has been the subject of a number of research reports. Zacks Research lowered shares of Silicon Laboratories from a “hold” rating to a “strong sell” rating in a research note on Tuesday, August 18th. Weiss Ratings reissued a “sell (d-)” rating on shares of Silicon Laboratories in a research report on Wednesday, June 24th. Five equities research analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, Silicon Laboratories has a consensus rating of “Reduce” and a consensus target price of $218.00.

Silicon Laboratories Price Performance

NASDAQ SLAB traded down $0.26 during midday trading on Wednesday, hitting $219.71. 166,426 shares of the company traded hands, compared to its average volume of 510,584. Silicon Laboratories, Inc. has a 52 week low of $115.50 and a 52 week high of $222.49. The company’s 50-day simple moving average is $218.55 and its 200-day simple moving average is $215.17. The company has a market cap of $7.33 billion, a PE ratio of -186.19 and a beta of 1.36.

Silicon Laboratories (NASDAQ:SLAB) last released its quarterly earnings results on Tuesday, August 11th. The semiconductor company reported $0.71 EPS for the quarter, topping the consensus estimate of $0.69 by $0.02. The firm had revenue of $228.19 million during the quarter, compared to analyst estimates of $227.99 million. Silicon Laboratories had a negative return on equity of 0.66% and a negative net margin of 4.57%.The business’s revenue for the quarter was up 18.3% compared to the same quarter last year. During the same period in the previous year, the company posted $0.11 EPS. On average, research analysts predict that Silicon Laboratories, Inc. will post 0.52 earnings per share for the current year.

Silicon Laboratories Profile

Silicon Laboratories Inc is a fabless semiconductor company focused on technologies that connect and control devices in the Internet of Things (IoT). The company develops integrated circuits, modules and software designed to help manufacturers build connected products for residential, commercial and industrial applications.

Its portfolio includes wireless system-on-chips, microcontrollers, connectivity modules and development tools supporting technologies such as Bluetooth, Wi-Fi, Zigbee, Thread, Matter and proprietary wireless protocols.