SEB Asset Management AB Purchases New Stake in Silicon Laboratories, Inc. $SLAB

SEB Asset Management AB acquired a new position in shares of Silicon Laboratories, Inc. (NASDAQ:SLAB) in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 7,504 shares of the semiconductor company’s stock, valued at approximately $1,562,000.

Several other hedge funds have also added to or reduced their stakes in SLAB. Vanguard Group Inc. grew its position in shares of Silicon Laboratories by 3.1% during the 4th quarter. Vanguard Group Inc. now owns 3,992,407 shares of the semiconductor company’s stock valued at $521,808,000 after acquiring an additional 121,432 shares during the period. State Street Corp raised its holdings in shares of Silicon Laboratories by 0.5% in the 2nd quarter. State Street Corp now owns 1,517,813 shares of the semiconductor company’s stock worth $223,665,000 after purchasing an additional 7,139 shares during the period. 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 purchasing an additional 97,351 shares during the period. Geode Capital Management LLC lifted its stake in Silicon Laboratories by 1.0% in the fourth quarter. Geode Capital Management LLC now owns 824,771 shares of the semiconductor company’s stock valued at $107,814,000 after purchasing an additional 7,921 shares during the last quarter. Finally, AQR Capital Management LLC lifted its stake in Silicon Laboratories by 89.5% in the third quarter. AQR Capital Management LLC now owns 701,919 shares of the semiconductor company’s stock valued at $91,109,000 after purchasing an additional 331,427 shares during the last quarter.

Insider Buying and Selling

In related news, CEO Robert Matthew Johnson sold 8,024 shares of Silicon Laboratories 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 directly owned 80,519 shares in the company, valued at approximately $17,458,934.77. The trade was a 9.06% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 1.60% of the company’s stock.

Silicon Laboratories Stock Down 0.2%

NASDAQ SLAB opened at $216.76 on Friday. The company has a market cap of $7.15 billion, a PE ratio of -141.67 and a beta of 1.36. Silicon Laboratories, Inc. has a 52 week low of $115.50 and a 52 week high of $220.90. The firm’s 50-day simple moving average is $218.24 and its two-hundred day simple moving average is $202.36.

Silicon Laboratories (NASDAQ:SLAB) last posted its earnings results on Tuesday, May 5th. The semiconductor company reported $0.53 earnings per share for the quarter, topping the consensus estimate 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 firm had revenue of $213.50 million during the quarter, compared to the consensus estimate of $214.02 million. During the same quarter last year, the company earned ($0.08) earnings per share. The company’s revenue was up 20.1% on a year-over-year basis. As a group, equities research analysts anticipate that Silicon Laboratories, Inc. will post 0.74 EPS for the current year.

Analysts Set New Price Targets

Separately, Weiss Ratings reissued a “sell (d-)” rating on shares of Silicon Laboratories in a report on Wednesday, June 24th. Seven analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, Silicon Laboratories currently has a consensus rating of “Reduce” and an average price target of $177.50.

About Silicon Laboratories

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.