Legal & General Group Plc Makes New Investment in Silicon Laboratories, Inc. $SLAB

Legal & General Group Plc purchased a new stake in shares of Silicon Laboratories, Inc. (NASDAQ:SLAB) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 50,636 shares of the semiconductor company’s stock, valued at approximately $11,067,000. Legal & General Group Plc owned 0.15% of Silicon Laboratories as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also added to or reduced their stakes in the stock. The Manufacturers Life Insurance Company purchased a new position in Silicon Laboratories in the second quarter valued at about $5,431,000. S Squared Technology LLC purchased a new stake in shares of Silicon Laboratories during the 2nd quarter worth approximately $2,345,149. Athos Capital Ltd purchased a new stake in shares of Silicon Laboratories during the 2nd quarter worth approximately $1,356,000. Connor Clark & Lunn Investment Management Ltd. bought a new stake in shares of Silicon Laboratories in the 2nd quarter worth approximately $1,085,000. Finally, DLD Asset Management LP bought a new stake in shares of Silicon Laboratories in the 2nd quarter worth approximately $4,090,000.

Silicon Laboratories Price Performance

Silicon Laboratories stock opened at $219.05 on Tuesday. The firm has a market capitalization of $7.31 billion, a P/E ratio of -185.64 and a beta of 1.37. Silicon Laboratories, Inc. has a one year low of $115.50 and a one year high of $220.90. The business has a fifty day moving average price of $218.17 and a 200-day moving average price of $214.06.

Silicon Laboratories (NASDAQ:SLAB) last issued its quarterly earnings data on Tuesday, August 11th. The semiconductor company reported $0.71 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.69 by $0.02. Silicon Laboratories had a negative return on equity of 0.66% and a negative net margin of 4.57%.The business had revenue of $228.19 million for the quarter, compared to analysts’ expectations of $227.99 million. During the same quarter in the prior year, the firm posted $0.11 EPS. The firm’s quarterly revenue was up 18.3% on a year-over-year basis. Sell-side analysts expect that Silicon Laboratories, Inc. will post 0.52 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts have weighed in on the company. Weiss Ratings reissued a “sell (d-)” rating on shares of Silicon Laboratories in a report on Wednesday, June 24th. Zacks Research cut Silicon Laboratories from a “hold” rating to a “strong sell” rating in a research report on Tuesday, August 18th. Five research analysts have rated the stock with a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, Silicon Laboratories currently has an average rating of “Reduce” and an average price target of $218.00.

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.