Gabelli Funds LLC Acquires New Shares in Silicon Laboratories, Inc. $SLAB

Gabelli Funds LLC acquired a new position in shares of Silicon Laboratories, Inc. (NASDAQ:SLAB) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm acquired 13,900 shares of the semiconductor company’s stock, valued at approximately $2,893,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. GABELLI & Co INVESTMENT ADVISERS INC. acquired a new stake in shares of Silicon Laboratories during the first quarter worth about $2,425,000. Gamco Investors INC. ET AL acquired a new stake in Silicon Laboratories during the 1st quarter worth approximately $312,000. Arrowstreet Capital Limited Partnership lifted its stake in Silicon Laboratories by 226.5% in the first quarter. Arrowstreet Capital Limited Partnership now owns 71,830 shares of the semiconductor company’s stock valued at $14,951,000 after buying an additional 49,829 shares in the last quarter. Caxton Associates LLP lifted its stake in Silicon Laboratories by 469.2% in the first quarter. Caxton Associates LLP now owns 27,277 shares of the semiconductor company’s stock valued at $5,678,000 after buying an additional 22,485 shares in the last quarter. Finally, DLD Asset Management LP acquired a new position in shares of Silicon Laboratories in the first quarter valued at approximately $760,000.

Silicon Laboratories Stock Down 0.0%

NASDAQ:SLAB opened at $217.25 on Wednesday. Silicon Laboratories, Inc. has a twelve month low of $115.50 and a twelve month high of $220.90. The business has a 50 day moving average price of $218.27 and a two-hundred day moving average price of $203.91. The company has a market cap of $7.16 billion, a P/E ratio of -141.99 and a beta of 1.36.

Silicon Laboratories (NASDAQ:SLAB) last posted its quarterly earnings data 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. The company had revenue of $213.50 million for the quarter, compared to the consensus estimate of $214.02 million. Silicon Laboratories had a negative net margin of 6.13% and a negative return on equity of 2.18%. The firm’s revenue was up 20.1% compared to the same quarter last year. During the same period last year, the company earned ($0.08) earnings per share. As a group, analysts anticipate that Silicon Laboratories, Inc. will post 0.74 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Separately, Weiss Ratings restated a “sell (d-)” rating on shares of Silicon Laboratories in a report on Wednesday, June 24th. Seven analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Reduce” and an average price target of $177.50.

Insiders Place Their Bets

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

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.