California Public Employees Retirement System Purchases 4,091 Shares of Silicon Laboratories, Inc. $SLAB

California Public Employees Retirement System grew its holdings in shares of Silicon Laboratories, Inc. (NASDAQ:SLAB) by 6.8% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund 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’s holdings in Silicon Laboratories were worth $13,379,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. AQR Capital Management LLC boosted its stake in shares of Silicon Laboratories by 43.7% during the 1st quarter. AQR Capital Management LLC now owns 17,892 shares of the semiconductor company’s stock worth $2,001,000 after acquiring an additional 5,439 shares during the last quarter. Millennium Management LLC grew its stake in shares of Silicon Laboratories by 2,804.1% during the 1st quarter. Millennium Management LLC now owns 99,842 shares of the semiconductor company’s stock valued at $11,239,000 after acquiring an additional 96,404 shares during the period. Jones Financial Companies Lllp boosted its stake in shares of Silicon Laboratories by 121.4% in the first quarter. Jones Financial Companies Lllp now owns 496 shares of the semiconductor company’s stock worth $56,000 after acquiring an additional 272 shares during the period. United Services Automobile Association bought a new position in shares of Silicon Laboratories during the first quarter worth $235,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in shares of 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 worth $10,937,000 after buying an additional 1,679 shares in the last quarter.

Insider Buying and Selling at Silicon Laboratories

In related news, CEO Robert Matthew Johnson sold 8,024 shares of the business’s stock in a transaction on Monday, May 18th. The stock was sold at an average price of $216.83, for a total transaction of $1,739,843.92. Following the transaction, the chief executive officer directly owned 80,519 shares in the company, valued at $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 is available through this link. 1.60% of the stock is owned by insiders.

Silicon Laboratories Stock Up 0.1%

Shares of SLAB stock opened at $216.88 on Friday. The firm has a market cap of $7.15 billion, a price-to-earnings ratio of -141.75 and a beta of 1.36. Silicon Laboratories, Inc. has a 52-week low of $115.50 and a 52-week high of $220.90. The company’s 50 day moving average is $218.24 and its 200 day moving average is $202.46.

Silicon Laboratories (NASDAQ:SLAB) last announced its earnings results on Tuesday, May 5th. The semiconductor company reported $0.53 earnings per share (EPS) 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 analysts’ expectations 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 revenue for the quarter was up 20.1% on a year-over-year basis. During the same quarter last year, the firm earned ($0.08) EPS. Analysts anticipate that Silicon Laboratories, Inc. will post 0.74 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

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