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Hedge Funds Aren’t Crazy About Silicon Laboratories (SLAB) Anymore

Hedge funds are not perfect. They have their bad picks just like everyone else. Micron, a stock hedge funds have loved, lost 50% during the last 12 months ending in October 30. Although hedge funds are not perfect, their consensus picks do deliver solid returns, however. Our data show the top 30 S&P 500 stocks among hedge funds at the end of September 2014 yielded an average return of 9.5% in the same time period, vs. a gain of 5.2% for the S&P 500 Index. Because hedge funds have a lot of resources and their consensus picks do well, we pay attention to what they think. In this article, we analyze what the elite funds think of Silicon Laboratories (NASDAQ:SLAB).

Silicon Laboratories (NASDAQ:SLAB) has experienced a decrease in enthusiasm from smart money lately. It is important to note that the stock market has traded Silicon Laboratories (NASDAQ:SLAB) in a similar manner, with its stock losing 23.09% value during the quarter. In order to find out more about the hedge fund sentiment, we will cover hedge funds that held positions in Silicon Laboratories (NASDAQ:SLAB), at the end of the last quarter.

At the end of this article, we will also compare Silicon Laboratories (NASDAQ:SLAB) to other stocks including CVB Financial Corp. (NASDAQ:CVBF), Selective Insurance Group (NASDAQ:SIGI), and Matador Resources Co (NYSE:MTDR) to get a better sense of its popularity.

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If you’d ask most investors, hedge funds are perceived as underperforming, old financial vehicles of the past. While there are over 8000 funds trading at present, our experts look at the moguls of this club, about 700 funds. These hedge fund managers shepherd the majority of the hedge fund industry’s total capital, and by observing their inimitable picks, Insider Monkey has found several investment strategies that have historically outrun the market. Insider Monkey’s small-cap hedge fund strategy outstripped the S&P 500 index by 12 percentage points per year for a decade in their back tests.

Now, let’s take a glance at the latest action surrounding Silicon Laboratories (NASDAQ:SLAB).

What does the smart money think about Silicon Laboratories (NASDAQ:SLAB)?

At the end of the third quarter, a total of 8 of the hedge funds tracked by Insider Monkey were long this stock, a drop of 43% from the second quarter. With hedgies’ sentiment swirling, there exists a few key hedge fund managers who were boosting their stakes meaningfully (or already accumulated large positions).

According to publicly available hedge fund and institutional investor holdings data compiled by Insider Monkey, Clint Carlson’s Carlson Capital has the largest position in Silicon Laboratories (NASDAQ:SLAB), worth close to $16.6 million, accounting for 0.2% of its total 13F portfolio. The second most bullish fund manager is Arrowstreet Capital, managed by Peter Rathjens, Bruce Clarke and John Campbell, which holds an $8.8 million position; the fund has less than 0.1% of its 13F portfolio invested in the stock. Some other members of the smart money that hold long positions consist of D E Shaw, and Peter Muller’s PDT Partners.

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