Hsbc Holdings PLC Acquires 4,927 Shares of Silicon Laboratories, Inc. $SLAB

Hsbc Holdings PLC increased its holdings in Silicon Laboratories, Inc. (NASDAQ:SLAB) by 74.3% in the 4th quarter, HoldingsChannel.com reports. The firm owned 11,558 shares of the semiconductor company’s stock after buying an additional 4,927 shares during the quarter. Hsbc Holdings PLC’s holdings in Silicon Laboratories were worth $1,516,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the business. Worthington Financial Partners LLC acquired a new stake in Silicon Laboratories during the fourth quarter valued at approximately $405,000. Pacer Advisors Inc. raised its holdings in shares of Silicon Laboratories by 70.3% in the 4th quarter. Pacer Advisors Inc. now owns 7,374 shares of the semiconductor company’s stock worth $964,000 after buying an additional 3,044 shares in the last quarter. Invesco Ltd. raised its holdings in shares of Silicon Laboratories by 12.9% in the 4th quarter. Invesco Ltd. now owns 852,493 shares of the semiconductor company’s stock worth $111,421,000 after buying an additional 97,351 shares in the last quarter. First Growth Capital LLC bought a new position in shares of Silicon Laboratories during the 4th quarter worth approximately $130,000. Finally, Mercer Global Advisors Inc. ADV acquired a new stake in Silicon Laboratories in the 4th quarter valued at $206,000.

Analysts Set New Price Targets

Separately, Weiss Ratings reiterated a “sell (d-)” rating on shares of Silicon Laboratories in a research note on Wednesday, June 24th. One investment analyst has rated the stock with a Buy rating, eight have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $171.43.

Insiders Place Their Bets

In related 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 value of $1,739,843.92. Following the completion of the transaction, the chief executive officer owned 80,519 shares in the company, valued at $17,458,934.77. The trade was a 9.06% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 1.60% of the stock is owned by company insiders.

Silicon Laboratories Stock Down 0.2%

Shares of NASDAQ:SLAB opened at $218.56 on Wednesday. The firm has a market cap of $7.21 billion, a P/E ratio of -142.85 and a beta of 1.37. Silicon Laboratories, Inc. has a 12 month low of $115.50 and a 12 month high of $220.90. The company’s 50-day moving average price is $217.66 and its two-hundred day moving average price is $192.34.

Silicon Laboratories (NASDAQ:SLAB) last announced its earnings results on Tuesday, May 5th. The semiconductor company reported $0.53 earnings per share (EPS) 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 company had revenue of $213.50 million for the quarter, compared to analyst estimates of $214.02 million. During the same period in the prior 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, equities analysts predict that Silicon Laboratories, Inc. will post 0.74 earnings per share for the current fiscal year.

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.