California Public Employees Retirement System Has $13.38 Million Stock Holdings in Silicon Laboratories, Inc. $SLAB

California Public Employees Retirement System boosted its holdings in Silicon Laboratories, Inc. (NASDAQ:SLAB) by 6.8% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 64,276 shares of the semiconductor company’s stock after purchasing an additional 4,091 shares during the quarter. California Public Employees Retirement System owned about 0.19% of Silicon Laboratories worth $13,379,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the company. Kestra Advisory Services LLC purchased a new stake in shares of Silicon Laboratories during the 4th quarter valued at $32,000. Covestor Ltd boosted its position in shares of Silicon Laboratories by 260.3% during the 4th quarter. Covestor Ltd now owns 281 shares of the semiconductor company’s stock valued at $37,000 after acquiring an additional 203 shares during the last quarter. Kemnay Advisory Services Inc. purchased a new stake in Silicon Laboratories in the fourth quarter valued at approximately $44,000. Jones Financial Companies Lllp grew its stake in Silicon Laboratories by 121.4% in the 1st quarter. Jones Financial Companies Lllp now owns 496 shares of the semiconductor company’s stock worth $56,000 after buying an additional 272 shares in the last quarter. Finally, Global Retirement Partners LLC increased its holdings in shares of Silicon Laboratories by 37.3% in the 4th quarter. Global Retirement Partners LLC now owns 497 shares of the semiconductor company’s stock worth $65,000 after buying an additional 135 shares during the last quarter.

Silicon Laboratories Trading Up 0.1%

Shares of SLAB opened at $216.88 on Friday. The firm’s 50-day moving average price is $218.24 and its 200-day moving average price is $202.46. The firm has a market capitalization of $7.15 billion, a price-to-earnings ratio of -141.75 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.

Silicon Laboratories (NASDAQ:SLAB) last issued its quarterly 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 return on equity of 2.18% and a negative net margin of 6.13%.The company had revenue of $213.50 million for the quarter, compared to analysts’ expectations of $214.02 million. During the same period in the prior year, the firm earned ($0.08) earnings per share. The firm’s revenue for the quarter was up 20.1% on a year-over-year basis. On average, research analysts forecast that Silicon Laboratories, Inc. will post 0.74 EPS for the current fiscal year.

Insiders Place Their Bets

In other Silicon Laboratories news, CEO Robert Matthew Johnson sold 8,024 shares of Silicon Laboratories stock in a transaction dated 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 of the company’s stock, valued at approximately $17,458,934.77. The trade was a 9.06% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 1.60% of the company’s stock.

Analyst Ratings Changes

Separately, Weiss Ratings restated a “sell (d-)” rating on shares of Silicon Laboratories in a research report on Wednesday, June 24th. Seven equities research analysts have rated the stock with a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, Silicon Laboratories currently has an average rating of “Reduce” and an average target price 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.