Louisiana State Employees Retirement System Takes Position in Silicon Laboratories, Inc. $SLAB

Louisiana State Employees Retirement System purchased a new position in Silicon Laboratories, Inc. (NASDAQ:SLAB) in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 9,600 shares of the semiconductor company’s stock, valued at approximately $1,998,000.

A number of other large investors have also modified their holdings of the stock. Vanguard Group Inc. raised its stake in shares of Silicon Laboratories by 3.1% in the fourth 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 in the last quarter. State Street Corp grew its stake in Silicon Laboratories by 0.5% during 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 in the last quarter. Invesco Ltd. increased its holdings in Silicon Laboratories by 12.9% during 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 raised its position in Silicon Laboratories by 1.0% in the 4th 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 in the last quarter. Finally, AQR Capital Management LLC raised its position in Silicon Laboratories by 89.5% in the 3rd 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 in the last quarter.

Analysts Set New Price Targets

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

Insiders Place Their Bets

In other news, CEO Robert Matthew Johnson sold 8,024 shares of the business’s stock in a transaction that occurred on Monday, May 18th. The shares were sold at an average price of $216.83, for a total transaction of $1,739,843.92. Following the completion of the sale, the chief executive officer 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 sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 1.60% of the company’s stock.

Silicon Laboratories Stock Performance

NASDAQ:SLAB opened at $218.56 on Wednesday. Silicon Laboratories, Inc. has a 1 year low of $115.50 and a 1 year high of $220.90. The stock has a market cap of $7.21 billion, a P/E ratio of -142.85 and a beta of 1.37. The stock has a 50-day simple moving average of $217.66 and a 200-day simple moving average of $192.34.

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. The business had revenue of $213.50 million for the quarter, compared to analyst estimates of $214.02 million. Silicon Laboratories had a negative return on equity of 2.18% and a negative net margin of 6.13%.The business’s quarterly revenue was up 20.1% on a year-over-year basis. During the same quarter last year, the company earned ($0.08) EPS. On average, equities research analysts predict that Silicon Laboratories, Inc. will post 0.74 EPS 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.