Here is What Hedge Funds Think About Silicon Laboratories (SLAB)

With a general bullishness amongst the heavyweights, key money managers have been driving this bullishness. AQR Capital Management, led by Cliff Asness, created the most valuable position in Silicon Laboratories (NASDAQ:SLAB). AQR Capital Management had $5.9 million invested in the company at the end of the quarter. John Overdeck and David Siegel’s Two Sigma Advisors also made a $2.9 million investment in the stock during the quarter. The following funds were also among the new SLAB investors: Frank Slattery’s Symmetry Peak Management, David Costen Haley’s HBK Investments, and Ken Griffin’s Citadel Investment Group.

Let’s check out hedge fund activity in other stocks – not necessarily in the same industry as Silicon Laboratories (NASDAQ:SLAB) but similarly valued. These stocks are Hawaiian Holdings, Inc. (NASDAQ:HA), Essent Group Ltd (NYSE:ESNT), Suburban Propane Partners LP (NYSE:SPH), and Electronics For Imaging, Inc. (NASDAQ:EFII). This group of stocks’ market caps are closest to SLAB’s market cap.

As you can see these stocks had an average of 13 hedge funds with bullish positions and the average amount invested in these stocks was $125 million. That figure was $112 million in SLAB’s case. Hawaiian Holdings, Inc. (NASDAQ:HA) is the most popular stock in this table. On the other hand Suburban Propane Partners LP (NYSE:SPH) is the least popular one with only 4 bullish hedge fund positions. Silicon Laboratories (NASDAQ:SLAB) is not the most popular stock in this group but hedge fund interest is still above average. This is a slightly positive signal but we’d rather spend our time researching stocks that hedge funds are piling on. In this regard HA might be a better candidate to consider taking a long position in.

Disclosure: None