Pentwater Capital Management LP Acquires Shares of 741,725 Silicon Laboratories, Inc. $SLAB

Pentwater Capital Management LP bought a new stake in shares of Silicon Laboratories, Inc. (NASDAQ:SLAB) in the 2nd quarter, Holdings Channel reports. The institutional investor bought 741,725 shares of the semiconductor company’s stock, valued at approximately $162,111,000. Silicon Laboratories comprises about 1.0% of Pentwater Capital Management LP’s investment portfolio, making the stock its 19th biggest holding.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. California State Teachers Retirement System lifted its position in shares of Silicon Laboratories by 21.5% during the 1st quarter. California State Teachers Retirement System now owns 38,003 shares of the semiconductor company’s stock worth $7,910,000 after buying an additional 6,737 shares during the last quarter. Vanguard Group Inc. increased its position in Silicon Laboratories by 3.1% in the 4th quarter. Vanguard Group Inc. now owns 3,992,407 shares of the semiconductor company’s stock valued at $521,808,000 after acquiring an additional 121,432 shares during the period. BlackRock Inc. acquired a new stake in Silicon Laboratories in the second quarter valued at $1,135,435,000. Assenagon Asset Management S.A. increased its stake in shares of Silicon Laboratories by 395.2% in the first quarter. Assenagon Asset Management S.A. now owns 239,318 shares of the semiconductor company’s stock valued at $49,814,000 after buying an additional 190,994 shares during the period. Finally, Hsbc Holdings PLC lifted its stake in shares of Silicon Laboratories by 74.3% in the fourth quarter. Hsbc Holdings PLC now owns 11,558 shares of the semiconductor company’s stock worth $1,516,000 after acquiring an additional 4,927 shares during the period.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on SLAB. Zacks Research downgraded shares of Silicon Laboratories from a “hold” rating to a “strong sell” rating in a research report on Tuesday, August 18th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Silicon Laboratories in a research note on Wednesday, June 24th. Five research analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Reduce” and a consensus price target of $218.00.

Silicon Laboratories Stock Performance

Silicon Laboratories stock opened at $218.83 on Thursday. Silicon Laboratories, Inc. has a 52-week low of $115.50 and a 52-week high of $220.90. The stock’s 50 day moving average price is $218.23 and its two-hundred day moving average price is $213.79. The stock has a market capitalization of $7.30 billion, a price-to-earnings ratio of -185.45 and a beta of 1.37.

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