California State Teachers Retirement System Grows Position in Silicon Laboratories, Inc. $SLAB

California State Teachers Retirement System increased its position in shares of Silicon Laboratories, Inc. (NASDAQ:SLAB) by 21.5% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 38,003 shares of the semiconductor company’s stock after acquiring an additional 6,737 shares during the quarter. California State Teachers Retirement System’s holdings in Silicon Laboratories were worth $7,910,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently modified their holdings of the company. Empowered Funds LLC raised its stake in Silicon Laboratories by 38.5% during the first quarter. Empowered Funds LLC now owns 4,082 shares of the semiconductor company’s stock worth $850,000 after purchasing an additional 1,134 shares during the period. Quantinno Capital Management LP grew its stake in shares of Silicon Laboratories by 22.5% in the 1st quarter. Quantinno Capital Management LP now owns 7,635 shares of the semiconductor company’s stock valued at $1,589,000 after buying an additional 1,400 shares during the period. Polar Asset Management Partners Inc. acquired a new stake in shares of Silicon Laboratories during the 1st quarter worth approximately $1,041,000. Lazard Asset Management LLC acquired a new stake in shares of Silicon Laboratories during the 1st quarter worth approximately $1,901,000. Finally, Sona Asset Management US LLC purchased a new stake in shares of Silicon Laboratories during the 1st quarter valued at approximately $36,439,000.

Silicon Laboratories Stock Performance

Shares of SLAB stock opened at $218.39 on Wednesday. Silicon Laboratories, Inc. has a fifty-two week low of $115.50 and a fifty-two week high of $220.90. The company has a 50 day moving average price of $218.25 and a 200 day moving average price of $206.40. The stock has a market capitalization of $7.20 billion, a P/E ratio of -142.74 and a beta of 1.37.

Silicon Laboratories (NASDAQ:SLAB) last released its earnings results on Tuesday, May 5th. The semiconductor company reported $0.53 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.49 by $0.04. Silicon Laboratories had a negative return on equity of 2.18% and a negative net margin of 6.13%.The firm had revenue of $213.50 million during the quarter, compared to analyst estimates of $214.02 million. During the same period last year, the business posted ($0.08) earnings per share. Silicon Laboratories’s revenue was up 20.1% compared to the same quarter last year. On average, research analysts forecast that Silicon Laboratories, Inc. will post 0.74 EPS for the current fiscal year.

Insider Transactions at Silicon Laboratories

In other Silicon Laboratories news, CEO Robert Matthew Johnson sold 8,024 shares of the stock in a transaction dated Monday, May 18th. The stock was sold at an average price of $216.83, for a total value of $1,739,843.92. Following the sale, the chief executive officer owned 80,519 shares of the company’s stock, valued at $17,458,934.77. This trade represents a 9.06% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 1.60% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Separately, Weiss Ratings reiterated a “sell (d-)” rating on shares of Silicon Laboratories in a research report on Wednesday, June 24th. Six equities research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of “Reduce” and a consensus target price of $193.33.

Silicon Laboratories 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.