Cinctive Capital Management LP Invests $6.44 Million in Silicon Laboratories, Inc. $SLAB

Cinctive Capital Management LP bought a new position in shares of Silicon Laboratories, Inc. (NASDAQ:SLAB) in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 49,232 shares of the semiconductor company’s stock, valued at approximately $6,435,000.

A number of other institutional investors also recently bought and sold shares of SLAB. Norges Bank bought a new position in Silicon Laboratories in the fourth quarter worth about $56,008,000. Thrivent Financial for Lutherans raised its stake in Silicon Laboratories by 312.9% in the fourth quarter. Thrivent Financial for Lutherans now owns 467,958 shares of the semiconductor company’s stock worth $61,162,000 after buying an additional 354,621 shares in the last quarter. AQR Capital Management LLC raised its stake in Silicon Laboratories by 1,970.7% in the second quarter. AQR Capital Management LLC now owns 370,492 shares of the semiconductor company’s stock worth $54,516,000 after buying an additional 352,600 shares in the last quarter. Westfield Capital Management Co. LP bought a new position in Silicon Laboratories in the third quarter worth about $44,887,000. Finally, Squarepoint Ops LLC raised its stake in Silicon Laboratories by 113.6% in the third quarter. Squarepoint Ops LLC now owns 358,016 shares of the semiconductor company’s stock worth $46,947,000 after buying an additional 190,421 shares in the last quarter.

Insider Activity at Silicon Laboratories

In other news, CEO Robert Matthew Johnson sold 8,024 shares of the stock in a transaction that occurred on Monday, May 18th. The shares were sold at an average price of $216.83, for a total transaction of $1,739,843.92. Following the sale, the chief executive officer owned 80,519 shares in the company, valued at $17,458,934.77. This represents a 9.06% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 1.60% of the stock is currently owned by insiders.

Silicon Laboratories Stock Down 0.4%

NASDAQ:SLAB opened at $218.61 on Thursday. The company’s 50 day moving average price is $216.29 and its 200-day moving average price is $187.12. Silicon Laboratories, Inc. has a 52 week low of $115.50 and a 52 week high of $220.90. The stock has a market cap of $7.21 billion, a price-to-earnings ratio of -142.88 and a beta of 1.37.

Silicon Laboratories (NASDAQ:SLAB) last posted its quarterly earnings results on Tuesday, May 5th. The semiconductor company reported $0.53 EPS for the quarter, beating analysts’ consensus estimates of $0.49 by $0.04. Silicon Laboratories had a negative net margin of 6.13% and a negative return on equity of 2.18%. The firm had revenue of $213.50 million for the quarter, compared to analysts’ expectations of $214.02 million. During the same quarter in the prior year, the company posted ($0.08) earnings per share. The business’s revenue for the quarter was up 20.1% on a year-over-year basis. As a group, sell-side analysts anticipate that Silicon Laboratories, Inc. will post 0.74 earnings per share for the current year.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reissued a “sell (d-)” rating on shares of Silicon Laboratories in a research note on Friday, March 27th. One research analyst has rated the stock with a Buy rating, eight have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $171.43.

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.