Silicon Laboratories Inc. (NASDAQ:SLAB) Stake Cut by Amalgamated Bank

Amalgamated Bank decreased its holdings in shares of Silicon Laboratories Inc. (NASDAQ:SLAB) by 7.7% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 15,429 shares of the semiconductor company’s stock after selling 1,293 shares during the period. Amalgamated Bank’s holdings in Silicon Laboratories were worth $1,707,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of SLAB. Mutual of America Capital Management LLC raised its stake in Silicon Laboratories by 6.9% during the second quarter. Mutual of America Capital Management LLC now owns 34,849 shares of the semiconductor company’s stock worth $3,855,000 after acquiring an additional 2,259 shares during the period. Dimensional Fund Advisors LP raised its position in shares of Silicon Laboratories by 2.0% during the 2nd quarter. Dimensional Fund Advisors LP now owns 639,065 shares of the semiconductor company’s stock worth $70,699,000 after purchasing an additional 12,680 shares during the period. Envestnet Asset Management Inc. lifted its holdings in shares of Silicon Laboratories by 15.6% in the 2nd quarter. Envestnet Asset Management Inc. now owns 110,375 shares of the semiconductor company’s stock worth $12,211,000 after purchasing an additional 14,877 shares during the last quarter. Oppenheimer Asset Management Inc. boosted its position in Silicon Laboratories by 16.5% during the 2nd quarter. Oppenheimer Asset Management Inc. now owns 7,183 shares of the semiconductor company’s stock valued at $795,000 after purchasing an additional 1,017 shares during the period. Finally, Federated Hermes Inc. grew its stake in Silicon Laboratories by 2.2% during the 2nd quarter. Federated Hermes Inc. now owns 545,833 shares of the semiconductor company’s stock worth $60,386,000 after buying an additional 11,981 shares during the last quarter.

Insider Buying and Selling

In other Silicon Laboratories news, SVP Brandon Tolany sold 845 shares of the company’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $115.00, for a total value of $97,175.00. Following the completion of the sale, the senior vice president now directly owns 43,615 shares of the company’s stock, valued at approximately $5,015,725. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.72% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the stock. Needham & Company LLC reissued a “buy” rating and set a $150.00 price target on shares of Silicon Laboratories in a report on Thursday, July 25th. StockNews.com raised shares of Silicon Laboratories to a “sell” rating in a research note on Tuesday, July 23rd. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and five have issued a buy rating to the company. According to MarketBeat, Silicon Laboratories presently has a consensus rating of “Hold” and a consensus price target of $135.00.

Silicon Laboratories Trading Up 0.8 %

SLAB stock opened at $114.09 on Thursday. The firm’s 50-day moving average is $110.27 and its two-hundred day moving average is $119.57. The company has a market capitalization of $3.68 billion, a price-to-earnings ratio of -34.47 and a beta of 1.19. Silicon Laboratories Inc. has a 52 week low of $74.56 and a 52 week high of $154.91.

Silicon Laboratories (NASDAQ:SLAB) last released its earnings results on Wednesday, July 24th. The semiconductor company reported ($0.56) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.64) by $0.08. Silicon Laboratories had a negative return on equity of 9.13% and a negative net margin of 36.53%. The firm had revenue of $145.40 million during the quarter, compared to the consensus estimate of $140.18 million. During the same period in the prior year, the firm posted $0.59 earnings per share. The firm’s revenue for the quarter was down 40.6% compared to the same quarter last year. On average, equities research analysts predict that Silicon Laboratories Inc. will post -3.41 earnings per share for the current year.

Silicon Laboratories Company Profile

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 industrial Internet of Things (IoT), including industrial automation and control, smart buildings, access control, HVAC control, and industrial wearables and power tools; smart cities applications, such as smart metering, smart street lighting, renewable energy, electric vehicle supply equipment, and smart agriculture; commercial IoT applications, including smart lighting, asset tracking, electronic shelf labels, theft protection, and enterprise access points; smart home applications, comprising home automation/security systems, smart speakers, smart lighting, HVAC control, smart cameras, smart appliances, smart home sensing, smart locks, and window/blind controls; and connected health applications, including diabetes management, consumer health and fitness, elderly care, patient monitoring, and activity tracking; as well as in commercial building automation, consumer electronics, and medical instrumentation.