Thrivent Financial for Lutherans Raises Stock Holdings in Silicon Laboratories, Inc. $SLAB

Thrivent Financial for Lutherans increased its stake in shares of Silicon Laboratories, Inc. (NASDAQ:SLAB) by 312.9% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 467,958 shares of the semiconductor company’s stock after purchasing an additional 354,621 shares during the quarter. Thrivent Financial for Lutherans owned approximately 1.42% of Silicon Laboratories worth $61,162,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. AQR Capital Management LLC raised its stake in Silicon Laboratories by 43.7% in the first quarter. AQR Capital Management LLC now owns 17,892 shares of the semiconductor company’s stock valued at $2,001,000 after buying an additional 5,439 shares during the last quarter. Millennium Management LLC raised its stake in Silicon Laboratories by 2,804.1% in the first quarter. Millennium Management LLC now owns 99,842 shares of the semiconductor company’s stock valued at $11,239,000 after buying an additional 96,404 shares during the last quarter. Jones Financial Companies Lllp raised its stake in Silicon Laboratories by 121.4% in the first quarter. Jones Financial Companies Lllp now owns 496 shares of the semiconductor company’s stock valued at $56,000 after buying an additional 272 shares during the last quarter. United Services Automobile Association purchased a new stake in Silicon Laboratories in the first quarter valued at about $235,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in Silicon Laboratories by 1.8% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 97,156 shares of the semiconductor company’s stock valued at $10,937,000 after buying an additional 1,679 shares during the last quarter.

Silicon Laboratories Trading Down 0.3%

Shares of SLAB opened at $216.59 on Friday. Silicon Laboratories, Inc. has a 12 month low of $115.50 and a 12 month high of $218.68. The stock’s 50 day moving average is $210.51 and its two-hundred day moving average is $171.86. The firm has a market cap of $7.14 billion, a P/E ratio of -141.56 and a beta of 1.40.

Silicon Laboratories (NASDAQ:SLAB) last released its earnings results on Tuesday, May 5th. The semiconductor company reported $0.53 earnings per share for the quarter, beating the consensus estimate of $0.49 by $0.04. The business had revenue of $213.50 million for the quarter, compared to the consensus estimate 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% compared to the same quarter last year. During the same quarter last year, the business posted ($0.08) earnings per share. Equities research analysts forecast that Silicon Laboratories, Inc. will post 0.74 EPS for the current year.

Analyst Upgrades and Downgrades

SLAB has been the subject of a number of research analyst reports. Royal Bank Of Canada increased their price target on Silicon Laboratories from $160.00 to $205.00 and gave the company a “sector perform” rating in a research note on Thursday, February 5th. Needham & Company LLC cut Silicon Laboratories from a “buy” rating to a “hold” rating in a research note on Wednesday, February 4th. Weiss Ratings restated a “sell (d-)” rating on shares of Silicon Laboratories in a research note on Friday, March 27th. KeyCorp lowered Silicon Laboratories from an “overweight” rating to a “hold” rating in a research report on Wednesday, February 4th. Finally, Benchmark lowered Silicon Laboratories from a “buy” rating to a “hold” rating in a research report on Wednesday, February 4th. One investment analyst has rated the stock with a Buy rating, eight have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, Silicon Laboratories has an average rating of “Hold” and a consensus target price of $170.00.

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.