M&T Bank Corp Trims Stock Holdings in Silicon Laboratories Inc. (NASDAQ:SLAB)

M&T Bank Corp reduced its position in shares of Silicon Laboratories Inc. (NASDAQ:SLAB) by 13.6% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 3,987 shares of the semiconductor company’s stock after selling 626 shares during the quarter. M&T Bank Corp’s holdings in Silicon Laboratories were worth $698,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently bought and sold shares of the company. International Assets Investment Management LLC purchased a new position in Silicon Laboratories during the 1st quarter worth $36,000. Venturi Wealth Management LLC purchased a new position in Silicon Laboratories during the 1st quarter worth $45,000. Live Oak Investment Partners purchased a new position in Silicon Laboratories during the 4th quarter worth $39,000. Quadrant Capital Group LLC increased its holdings in Silicon Laboratories by 72.9% during the 4th quarter. Quadrant Capital Group LLC now owns 377 shares of the semiconductor company’s stock worth $51,000 after purchasing an additional 159 shares during the period. Finally, Covestor Ltd increased its holdings in Silicon Laboratories by 214.8% during the 1st quarter. Covestor Ltd now owns 554 shares of the semiconductor company’s stock worth $83,000 after purchasing an additional 378 shares during the period.

Silicon Laboratories Price Performance

Shares of SLAB stock opened at $135.22 on Friday. The business has a fifty day moving average of $146.78 and a 200 day moving average of $155.36. The firm has a market capitalization of $4.31 billion, a price-to-earnings ratio of 64.39 and a beta of 1.10. Silicon Laboratories Inc. has a 1 year low of $109.44 and a 1 year high of $194.68.

Silicon Laboratories (NASDAQ:SLAB) last released its quarterly earnings data on Wednesday, July 26th. The semiconductor company reported $0.59 earnings per share for the quarter, missing analysts’ consensus estimates of $0.65 by ($0.06). The company had revenue of $244.87 million for the quarter, compared to analysts’ expectations of $243.32 million. Silicon Laboratories had a net margin of 7.00% and a return on equity of 7.36%. As a group, equities research analysts expect that Silicon Laboratories Inc. will post 1.99 earnings per share for the current year.

Insider Buying and Selling at Silicon Laboratories

In other Silicon Laboratories news, CEO Robert Matthew Johnson sold 3,498 shares of Silicon Laboratories stock in a transaction dated Wednesday, August 2nd. The stock was sold at an average price of $144.06, for a total transaction of $503,921.88. Following the completion of the transaction, the chief executive officer now owns 38,263 shares in the company, valued at approximately $5,512,167.78. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 1.96% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on SLAB shares. Raymond James started coverage on Silicon Laboratories in a research report on Friday, July 7th. They set a “market perform” rating on the stock. KeyCorp lowered their price objective on Silicon Laboratories from $200.00 to $180.00 and set an “overweight” rating for the company in a research report on Thursday, July 27th. Citigroup lowered their price objective on Silicon Laboratories from $165.00 to $148.00 and set a “neutral” rating for the company in a research report on Friday, July 28th. Finally, StockNews.com began coverage on Silicon Laboratories in a research report on Thursday, August 17th. They issued a “hold” rating for the company. One analyst has rated the stock with a sell rating, five have issued a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $167.50.

About Silicon Laboratories

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.