2,100 Shares in Silicon Laboratories Inc. (NASDAQ:SLAB) Bought by MQS Management LLC

MQS Management LLC purchased a new stake in Silicon Laboratories Inc. (NASDAQ:SLAB) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund purchased 2,100 shares of the semiconductor company’s stock, valued at approximately $232,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in SLAB. Vanguard Group Inc. increased its position in shares of Silicon Laboratories by 0.7% in the first quarter. Vanguard Group Inc. now owns 3,489,160 shares of the semiconductor company’s stock valued at $501,462,000 after acquiring an additional 24,997 shares during the last quarter. Capital Research Global Investors increased its position in shares of Silicon Laboratories by 29.9% during the 1st quarter. Capital Research Global Investors now owns 1,217,939 shares of the semiconductor company’s stock worth $175,042,000 after purchasing an additional 280,000 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in shares of Silicon Laboratories by 2.0% during the 2nd quarter. Dimensional Fund Advisors LP now owns 639,065 shares of the semiconductor company’s stock worth $70,699,000 after purchasing an additional 12,680 shares in the last quarter. Van Berkom & Associates Inc. boosted its holdings in shares of Silicon Laboratories by 8.4% in the 2nd quarter. Van Berkom & Associates Inc. now owns 609,232 shares of the semiconductor company’s stock valued at $67,399,000 after buying an additional 47,058 shares during the last quarter. Finally, Federated Hermes Inc. grew its stake in shares of Silicon Laboratories by 2.2% in the second quarter. Federated Hermes Inc. now owns 545,833 shares of the semiconductor company’s stock valued at $60,386,000 after buying an additional 11,981 shares in the last quarter.

Insiders Place Their Bets

In other news, SVP Brandon Tolany sold 845 shares of Silicon Laboratories stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $115.00, for a total value of $97,175.00. Following the completion of the sale, the senior vice president now directly owns 43,615 shares in the company, valued at $5,015,725. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Company insiders own 1.72% of the company’s stock.

Silicon Laboratories Trading Down 2.3 %

Shares of NASDAQ SLAB opened at $111.76 on Friday. The firm has a market cap of $3.61 billion, a P/E ratio of -33.76 and a beta of 1.19. The business’s 50 day moving average is $110.83 and its 200-day moving average is $120.32. Silicon Laboratories Inc. has a 1-year low of $74.56 and a 1-year high of $154.91.

Silicon Laboratories (NASDAQ:SLAB) last posted its earnings results on Wednesday, July 24th. The semiconductor company reported ($0.56) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.64) by $0.08. Silicon Laboratories had a negative return on equity of 9.13% and a negative net margin of 36.53%. The company had revenue of $145.40 million during the quarter, compared to the consensus estimate of $140.18 million. During the same quarter last year, the firm earned $0.59 earnings per share. The company’s revenue was down 40.6% on a year-over-year basis. Analysts forecast that Silicon Laboratories Inc. will post -3.41 EPS for the current year.

Wall Street Analyst Weigh In

SLAB has been the subject of a number of recent analyst reports. StockNews.com upgraded shares of Silicon Laboratories to a “sell” rating in a research note on Tuesday, July 23rd. Needham & Company LLC reiterated a “buy” rating and issued a $150.00 target price on shares of Silicon Laboratories in a research note on Thursday, July 25th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $135.00.

About Silicon Laboratories

Silicon Laboratories Inc, a fabless semiconductor company, provides various analog-intensive mixed-signal solutions in the United States, China, Taiwan, and internationally. The company's products include wireless microcontrollers and sensor products. Its products are used in various electronic products in a range of applications for the industrial Internet of Things (IoT), including industrial automation and control, smart buildings, access control, HVAC control, and industrial wearables and power tools; smart cities applications, such as smart metering, smart street lighting, renewable energy, electric vehicle supply equipment, and smart agriculture; commercial IoT applications, including smart lighting, asset tracking, electronic shelf labels, theft protection, and enterprise access points; smart home applications, comprising home automation/security systems, smart speakers, smart lighting, HVAC control, smart cameras, smart appliances, smart home sensing, smart locks, and window/blind controls; and connected health applications, including diabetes management, consumer health and fitness, elderly care, patient monitoring, and activity tracking; as well as in commercial building automation, consumer electronics, and medical instrumentation.