Squarepoint Ops LLC Raises Position in Silicon Laboratories, Inc. $SLAB

Squarepoint Ops LLC raised its holdings in Silicon Laboratories, Inc. (NASDAQ:SLAB) by 2.9% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 114,521 shares of the semiconductor company’s stock after purchasing an additional 3,231 shares during the quarter. Squarepoint Ops LLC owned 0.34% of Silicon Laboratories worth $25,030,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. AQR Capital Management LLC grew its holdings in Silicon Laboratories by 43.7% in the first quarter. AQR Capital Management LLC now owns 17,892 shares of the semiconductor company’s stock valued at $2,001,000 after purchasing an additional 5,439 shares during the last quarter. Millennium Management LLC raised its position in Silicon Laboratories by 2,804.1% during the first quarter. Millennium Management LLC now owns 99,842 shares of the semiconductor company’s stock worth $11,239,000 after acquiring an additional 96,404 shares during the last quarter. Jones Financial Companies Lllp grew its position in shares of Silicon Laboratories by 121.4% in the first quarter. Jones Financial Companies Lllp now owns 496 shares of the semiconductor company’s stock valued at $56,000 after purchasing an additional 272 shares during the last quarter. United Services Automobile Association purchased a new position in shares of Silicon Laboratories during the 1st quarter worth approximately $235,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in shares of Silicon Laboratories by 1.8% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 97,156 shares of the semiconductor company’s stock worth $10,937,000 after purchasing an additional 1,679 shares during the last quarter.

Silicon Laboratories Price Performance

Silicon Laboratories stock opened at $220.00 on Wednesday. The stock’s 50-day moving average is $218.38 and its 200-day moving average is $214.63. The company has a market cap of $7.34 billion, a price-to-earnings ratio of -186.44 and a beta of 1.36. Silicon Laboratories, Inc. has a 12 month low of $115.50 and a 12 month high of $222.49.

Silicon Laboratories (NASDAQ:SLAB) last issued its earnings results on Tuesday, August 11th. The semiconductor company reported $0.71 EPS for the quarter, beating analysts’ consensus estimates of $0.69 by $0.02. The business had revenue of $228.19 million for the quarter, compared to the consensus estimate of $227.99 million. Silicon Laboratories had a negative net margin of 4.57% and a negative return on equity of 0.66%. The business’s revenue for the quarter was up 18.3% compared to the same quarter last year. During the same quarter last year, the firm posted $0.11 EPS. Research analysts anticipate that Silicon Laboratories, Inc. will post 0.52 EPS for the current year.

Wall Street Analyst Weigh In

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

Silicon Laboratories Company 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.