Credit Industriel ET Commercial Makes New Investment in Silicon Laboratories, Inc. $SLAB

Credit Industriel ET Commercial purchased a new stake in shares of Silicon Laboratories, Inc. (NASDAQ:SLAB) in the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 6,880 shares of the semiconductor company’s stock, valued at approximately $1,432,000.

Several other institutional investors have also recently made changes to their positions in SLAB. Praxis Investment Management Inc. bought a new stake in Silicon Laboratories during the first quarter valued at approximately $205,000. Pictet Asset Management Holding SA boosted its stake in shares of Silicon Laboratories by 12.3% during the 1st quarter. Pictet Asset Management Holding SA now owns 5,027 shares of the semiconductor company’s stock worth $1,046,000 after acquiring an additional 551 shares during the last quarter. Louisiana State Employees Retirement System bought a new stake in shares of Silicon Laboratories during the 1st quarter valued at $1,998,000. Ritholtz Wealth Management bought a new stake in shares of Silicon Laboratories during the 1st quarter valued at $229,000. Finally, Fifth Third Wealth Advisors LLC purchased a new stake in shares of Silicon Laboratories in the 1st quarter worth $210,000.

Insider Activity

In related news, CEO Robert Matthew Johnson sold 8,024 shares of the business’s stock in a transaction dated Monday, May 18th. The stock was sold at an average price of $216.83, for a total value of $1,739,843.92. Following the sale, 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 ownership of the stock. 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.

Analyst Ratings Changes

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

Silicon Laboratories Price Performance

SLAB opened at $217.51 on Tuesday. The firm has a market cap of $7.17 billion, a P/E ratio of -142.49 and a beta of 1.36. Silicon Laboratories, Inc. has a 1-year low of $115.50 and a 1-year high of $220.90. The company has a 50 day simple moving average of $217.96 and a two-hundred day simple moving average of $194.63.

Silicon Laboratories (NASDAQ:SLAB) last issued 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 company had revenue of $213.50 million during the quarter, compared to the consensus estimate of $214.02 million. During the same quarter in the prior year, the firm posted ($0.08) EPS. Silicon Laboratories’s quarterly revenue was up 20.1% compared to the same quarter last year. Equities analysts anticipate that Silicon Laboratories, Inc. will post 0.74 earnings per share for the current year.

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.