Silicon Laboratories, Inc. $SLAB Shares Bought by Fifth Third Bancorp

Fifth Third Bancorp raised its stake in Silicon Laboratories, Inc. (NASDAQ:SLAB) by 2,797.7% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 7,621 shares of the semiconductor company’s stock after buying an additional 7,358 shares during the quarter. Fifth Third Bancorp’s holdings in Silicon Laboratories were worth $1,586,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of SLAB. Sequoia Financial Advisors LLC acquired a new position in shares of Silicon Laboratories during the 1st quarter valued at about $253,000. Kornitzer Capital Management Inc. KS raised 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 period. Hsbc Holdings PLC boosted its holdings in 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 during the last quarter. Oregon Public Employees Retirement Fund grew its stake in shares of Silicon Laboratories by 2.8% in the 1st quarter. Oregon Public Employees Retirement Fund now owns 6,787 shares of the semiconductor company’s stock valued at $1,413,000 after buying an additional 188 shares during the period. Finally, Resonant Capital Advisors LLC purchased a new stake in shares of Silicon Laboratories in the 1st quarter valued at approximately $219,000.

Silicon Laboratories Trading Down 0.2%

Shares of NASDAQ:SLAB opened at $216.76 on Friday. The company has a market capitalization of $7.15 billion, a price-to-earnings 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 moving average price of $218.24 and a 200 day moving average price of $202.36.

Silicon Laboratories (NASDAQ:SLAB) last posted its earnings results on Tuesday, May 5th. The semiconductor company reported $0.53 EPS for the quarter, beating analysts’ consensus estimates of $0.49 by $0.04. The company had revenue of $213.50 million for the quarter, compared to analysts’ expectations of $214.02 million. Silicon Laboratories had a negative net margin of 6.13% and a negative return on equity of 2.18%. Silicon Laboratories’s revenue for the quarter was up 20.1% compared to the same quarter last year. During the same quarter in the prior year, the company posted ($0.08) earnings per share. As a group, equities research analysts predict that Silicon Laboratories, Inc. will post 0.74 earnings per share for the current fiscal year.

Insider Activity at Silicon Laboratories

In other news, CEO Robert Matthew Johnson sold 8,024 shares of the company’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 value of $1,739,843.92. Following the transaction, the chief executive officer directly owned 80,519 shares in the company, valued at approximately $17,458,934.77. This represents a 9.06% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 1.60% of the company’s stock.

Analyst Ratings Changes

Separately, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Silicon Laboratories in a research report 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 stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Reduce” and a consensus price target of $177.50.

Silicon Laboratories 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.