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NASDAQ: SLAB Investor Alert: Investigation over possible Securities LawsViolations

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An investigation on behalf of investors of Silicon Laboratories Inc. (NASDAQ: SLAB) shares over potential securities laws violations by Silicon Laboratories Inc. and certain of its directors and officers in connection with certain financial statements was announced.

 

Investors who purchased shares of Silicon Laboratories Inc. (NASDAQ: SLAB), have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 – 1554.

 

The investigation by a law firm focuses on possible claims on behalf of purchasers of the securities of Silicon Laboratories Inc. (NASDAQ: SLAB) concerning whether a series of statements by Silicon Laboratories Inc. regarding its business, its prospects and its operations were materially false and misleading at the time they were made.

 

Austin, TX based Silicon Laboratories Inc., a fabless semiconductor company, provides various analog-intensive mixed-signal solutions in the United States, China, Taiwan, and internationally. The company’s products include wireless microcontrollers and sensor products. Its products are used in various electronic products in a range of applications for the Internet of Things (IoT), including connected home and security, industrial automation and control, smart metering, smart lighting, commercial building automation, consumer electronics, asset tracking, and medical instrumentation.

Shares of Silicon Laboratories Inc. (NASDAQ: SLAB) reached a high of $210.70 per share in late 2021.

Silicon Laboratories Inc. (NASDAQ: SLAB) reported that its annual Total Revenue rose from $720.86 million in 2021 to over $1.02 billion in 2022, and that its Net Income declined from over $2.11 billion in 2021 to $91.4 million in 2022.

As of January 14, 2023, the average one-year price target for Silicon Laboratories is $150.96. The forecasts range from a low of $85.85 to a high of $183.75.

On January 29, 2024, Silicon Laboratories Inc. announced a one-week delay to its scheduled earnings conference call for the quarter ended on December 30, 2023. The company stated that it has identified a material weakness in internal control related to the operation and documentation of certain inventory controls as of December 30, 2023. The delay in reporting is intended to provide additional time to evaluate the impact of the material weakness on the company’s financial reporting as of the end of the quarterly period.

Shares of Silicon Laboratories Inc. (NASDAQ: SLAB) declined to $115.35 per share on February 06, 2024.

On February 7, 2024, Silicon Laboratories Inc. (NASDAQ: SLAB) reported its financial results for the fourth quarter, which ended December 30, 2023. Silicon Laboratories Inc. (NASDAQ: SLAB) reported that its annual Total Revenue declined from over $1.02 billion in 2022 to $782.25 million in 2023, and that its Net Income declined from $91.4 million in 2022 to a Net Loss of $34.51 million in 2023.

As of February 15, 2024, Vanguard Group Inc. holds over 10% ownership in Silicon Laboratories Inc with over 3.4 million shares held. As of February 13, 2024 FMR, LLC  holds 15% ownership in Silicon Laboratories Inc with over 4.7 million shares held, and Blackrock  Inc holds over 13% ownership in Silicon Laboratories Inc with over 4.3 million shares held as of February 13, 2024.

Shares of Silicon Laboratories Inc. (NASDAQ: SLAB) closed on February 21, 2024, at $134.68 per share.

 

Those who purchased shares of Silicon Laboratories Inc. (NASDAQ: SLAB) have certain options and should contact the Shareholders Foundation.

 

Contact:

Shareholders Foundation, Inc.
Michael Daniels
3111 Camino Del Rio North – Suite 423
92108 San Diego
Phone:  +1-(858)-779-1554
Fax:  +1-(858)-605-5739
mail@shareholdersfoundation.com

About:

The Shareholders Foundation, Inc. is a professional portfolio monitoring and settlement claim filing service, , which does research related to shareholder issues and informs investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. Shareholders Foundation, Inc. is in contact with a large number of shareholders and offers help, support, and assistance for every shareholder. The Shareholders Foundation, Inc. is not a law firm. Referenced cases, investigation, and/or settlements are not filed/reached and/or related to Shareholders Foundation. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.

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