1,000,000 Shares in Silicon Laboratories, Inc. $SLAB Acquired by HBK Investments L P

HBK Investments L P bought a new stake in shares of Silicon Laboratories, Inc. (NASDAQ:SLAB) in the second quarter, Holdings Channel.com reports. The institutional investor bought 1,000,000 shares of the semiconductor company’s stock, valued at approximately $218,560,000. Silicon Laboratories comprises about 2.1% of HBK Investments L P’s investment portfolio, making the stock its 14th biggest position.

Other institutional investors also recently bought and sold shares of the company. BlackRock Inc. acquired a new stake in shares of Silicon Laboratories in the 2nd quarter worth $1,135,435,000. Pentwater Capital Management LP acquired a new position in Silicon Laboratories during the 2nd quarter valued at about $162,111,000. Norges Bank purchased a new stake in Silicon Laboratories in the fourth quarter valued at about $56,008,000. Hsbc Holdings PLC purchased a new stake in Silicon Laboratories in the second quarter valued at about $67,455,000. Finally, Bank of New York Mellon Corp acquired a new stake in Silicon Laboratories in the second quarter worth about $45,699,000.

Analysts Set New Price Targets

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

Silicon Laboratories Stock Down 0.1%

Shares of SLAB traded down $0.26 during trading hours on Wednesday, reaching $219.71. 166,426 shares of the company traded hands, compared to its average volume of 510,584. The stock has a market capitalization of $7.33 billion, a P/E ratio of -186.19 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. The business has a fifty day moving average price of $218.55 and a 200-day moving average price of $215.17.

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

About Silicon Laboratories

Silicon Laboratories Inc is a fabless semiconductor company focused on technologies that connect and control devices in the Internet of Things (IoT). The company develops integrated circuits, modules and software designed to help manufacturers build connected products for residential, commercial and industrial applications.

Its portfolio includes wireless system-on-chips, microcontrollers, connectivity modules and development tools supporting technologies such as Bluetooth, Wi-Fi, Zigbee, Thread, Matter and proprietary wireless protocols.