Man Group plc Makes New $31.33 Million Investment in Silicon Laboratories, Inc. $SLAB

Man Group plc purchased a new stake in Silicon Laboratories, Inc. (NASDAQ:SLAB) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 143,337 shares of the semiconductor company’s stock, valued at approximately $31,328,000. Man Group plc owned 0.43% of Silicon Laboratories at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the company. Harbor Investment Advisory LLC bought a new position in shares of Silicon Laboratories during the 2nd quarter worth approximately $28,000. Kestra Advisory Services LLC bought a new stake in shares of Silicon Laboratories in the fourth quarter worth $32,000. Covestor Ltd boosted its holdings in Silicon Laboratories by 260.3% during the fourth quarter. Covestor Ltd now owns 281 shares of the semiconductor company’s stock worth $37,000 after purchasing an additional 203 shares during the last quarter. Allworth Financial LP acquired a new position in Silicon Laboratories during the second quarter worth $42,000. Finally, Kemnay Advisory Services Inc. bought a new position in Silicon Laboratories in the fourth quarter valued at $44,000.

Wall Street Analyst Weigh In

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

Silicon Laboratories Stock Up 0.2%

NASDAQ:SLAB opened at $218.83 on Thursday. Silicon Laboratories, Inc. has a twelve month low of $115.50 and a twelve month high of $220.90. The firm has a market capitalization of $7.30 billion, a price-to-earnings ratio of -185.45 and a beta of 1.37. The stock’s 50 day moving average price is $218.23 and its two-hundred day moving average price is $213.79.

Silicon Laboratories (NASDAQ:SLAB) last released its earnings results on Tuesday, August 11th. The semiconductor company reported $0.71 earnings per share for the quarter, beating the consensus estimate of $0.69 by $0.02. The business had revenue of $228.19 million during the quarter, compared to analysts’ expectations of $227.99 million. Silicon Laboratories had a negative net margin of 4.57% and a negative return on equity of 0.66%. The firm’s revenue was up 18.3% on a year-over-year basis. During the same period last year, the business earned $0.11 earnings per share. As a group, analysts anticipate that Silicon Laboratories, Inc. will post 0.52 earnings per share for the current year.

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.