BlackRock Inc. Makes New $1.14 Billion Investment in Silicon Laboratories, Inc. $SLAB

BlackRock Inc. purchased a new stake in shares of Silicon Laboratories, Inc. (NASDAQ:SLAB) during the 2nd quarter, according to its most recent filing with the SEC. The institutional investor purchased 5,195,073 shares of the semiconductor company’s stock, valued at approximately $1,135,435,000. BlackRock Inc. owned about 0.16% of Silicon Laboratories at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Vanguard Group Inc. boosted its holdings in shares of Silicon Laboratories by 3.1% in the fourth quarter. Vanguard Group Inc. now owns 3,992,407 shares of the semiconductor company’s stock valued at $521,808,000 after purchasing an additional 121,432 shares during the period. State Street Corp lifted its position in Silicon Laboratories by 0.5% during the second quarter. State Street Corp now owns 1,517,813 shares of the semiconductor company’s stock valued at $223,665,000 after acquiring an additional 7,139 shares during the last quarter. Invesco Ltd. boosted its position 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 purchasing an additional 97,351 shares in the last quarter. Geode Capital Management LLC grew its stake in shares of Silicon Laboratories by 1.0% during the fourth quarter. Geode Capital Management LLC now owns 824,771 shares of the semiconductor company’s stock worth $107,814,000 after acquiring an additional 7,921 shares during the last quarter. Finally, AQR Capital Management LLC grew its position in Silicon Laboratories by 89.5% during the 3rd quarter. AQR Capital Management LLC now owns 701,919 shares of the semiconductor company’s stock worth $91,109,000 after purchasing an additional 331,427 shares during the last quarter.

Silicon Laboratories Trading Down 0.0%

Shares of SLAB stock opened at $218.00 on Friday. Silicon Laboratories, Inc. has a twelve month low of $115.50 and a twelve month high of $220.90. The company’s 50-day moving average price is $218.29 and its 200-day moving average price is $212.53. The stock has a market cap of $7.27 billion, a price-to-earnings ratio of -184.75 and a beta of 1.37.

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

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on SLAB. Weiss Ratings restated a “sell (d-)” rating on shares of Silicon Laboratories in a research note on Wednesday, June 24th. Zacks Research downgraded shares of Silicon Laboratories from a “hold” rating to a “strong sell” rating in a report on Tuesday. Five investment analysts have rated the stock with a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Reduce” and an average target price of $218.00.

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.