Should You Consider Adding Silicon Laboratories Inc. (SLAB) to Your Portfolio?

Carillon Tower Advisers, an investment management company, released its “Carillon Eagle Small Cap Growth Fund” third quarter 2022 investor letter. A copy of the same can be downloaded here. The fund delivered negative returns in the third quarter. The portfolio recorded impressive gains at the beginning of the quarter. In contrast, there was a disappointing selloff at the end of the quarter. The Russell 2000 Growth Index was 0.26% up compared to a 4.60% decline for its counterpart, the Russell 2000 Value Index. In addition, you can check the top 5 holdings of the fund to know its best picks in 2022.

In the third-quarter letter, Carillon Tower Advisers discussed stocks like Silicon Laboratories Inc. (NASDAQ:SLAB). Headquartered in Austin, Texas, Silicon Laboratories Inc. (NASDAQ:SLAB) is a semiconductor company. On October 27, 2022, Silicon Laboratories Inc. (NASDAQ:SLAB) stock closed at $112.89 per share. One-month return of Silicon Laboratories Inc. (NASDAQ:SLAB) was -8.55% and its shares lost 40.19% of their value over the last 52 weeks. Silicon Laboratories Inc. (NASDAQ:SLAB) has a market capitalization of $3.863 billion.

Carillon Tower Advisers made the following comment about Silicon Laboratories Inc. (NASDAQ:SLAB) in its Q3 2022 investor letter:

Silicon Laboratories Inc. (NASDAQ:SLAB) provides silicon, software, and solutions used in a variety of technologies. Despite posting strong quarterly updates, shares have pulled back as investors are becoming concerned about an overall slowdown in the semiconductor space. Although we believe the hyper growth of the recent past will normalize, the company’s portfolio of assets related to the “Internet of Things,” combined with a strong balance sheet, make it one of the fastest growing semiconductor companies. This should enable it to weather any potential slowdown and allow Silicon Labs to remain an attractive acquisition target for a larger company.”

Photo by Umberto on Unsplash

Silicon Laboratories Inc. (NASDAQ:SLAB) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 21 hedge fund portfolios held Silicon Laboratories Inc. (NASDAQ:SLAB) at the end of the second quarter which was 25 in the previous quarter.

We discussed Silicon Laboratories Inc. (NASDAQ:SLAB) in another article and shared Carillon Tower Advisers’ views on the company. In addition, please check out our hedge fund investor letters Q3 2022 page for more investor letters from hedge funds and other leading investors.

Suggested Articles:

Disclosure: None. This article is originally published at Insider Monkey.