Amalgamated Bank Sells 326 Shares of Silicon Laboratories, Inc. (NASDAQ:SLAB)

Amalgamated Bank reduced its stake in shares of Silicon Laboratories, Inc. (NASDAQ:SLAB) by 2.2% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 14,484 shares of the semiconductor company’s stock after selling 326 shares during the period. Amalgamated Bank’s holdings in Silicon Laboratories were worth $1,630,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of SLAB. Jones Financial Companies Lllp raised its holdings in Silicon Laboratories by 44.5% during the fourth quarter. Jones Financial Companies Lllp now owns 224 shares of the semiconductor company’s stock valued at $28,000 after buying an additional 69 shares in the last quarter. UMB Bank n.a. raised its holdings in Silicon Laboratories by 111.3% during the first quarter. UMB Bank n.a. now owns 336 shares of the semiconductor company’s stock valued at $38,000 after buying an additional 177 shares in the last quarter. Parallel Advisors LLC raised its holdings in Silicon Laboratories by 143.7% during the first quarter. Parallel Advisors LLC now owns 463 shares of the semiconductor company’s stock valued at $52,000 after buying an additional 273 shares in the last quarter. Headlands Technologies LLC bought a new position in shares of Silicon Laboratories in the fourth quarter worth about $70,000. Finally, GAMMA Investing LLC increased its stake in shares of Silicon Laboratories by 99.6% in the first quarter. GAMMA Investing LLC now owns 1,126 shares of the semiconductor company’s stock worth $127,000 after purchasing an additional 562 shares during the period.

Silicon Laboratories Stock Up 0.6%

Shares of SLAB opened at $153.55 on Monday. Silicon Laboratories, Inc. has a 12-month low of $82.82 and a 12-month high of $160.00. The firm has a market capitalization of $5.00 billion, a price-to-earnings ratio of -30.05 and a beta of 1.47. The stock’s 50-day moving average price is $129.53 and its 200 day moving average price is $126.85.

Silicon Laboratories (NASDAQ:SLAB) last issued its quarterly earnings results on Tuesday, May 13th. The semiconductor company reported ($0.08) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.09) by $0.01. Silicon Laboratories had a negative return on equity of 8.80% and a negative net margin of 25.16%. The firm had revenue of $177.71 million for the quarter, compared to analyst estimates of $177.48 million. During the same period in the previous year, the company posted ($0.92) earnings per share. The company’s quarterly revenue was up 67.0% compared to the same quarter last year. Equities research analysts expect that Silicon Laboratories, Inc. will post -0.97 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the company. Stifel Nicolaus dropped their price objective on Silicon Laboratories from $145.00 to $120.00 and set a “buy” rating on the stock in a research note on Thursday, April 17th. Barclays dropped their price objective on Silicon Laboratories from $120.00 to $80.00 and set an “equal weight” rating on the stock in a research note on Tuesday, April 22nd. Wall Street Zen upgraded Silicon Laboratories from a “sell” rating to a “hold” rating in a research note on Wednesday, May 14th. Needham & Company LLC reiterated a “buy” rating and issued a $150.00 price objective on shares of Silicon Laboratories in a research note on Wednesday, May 14th. Finally, Susquehanna lifted their price objective on Silicon Laboratories from $100.00 to $110.00 and gave the stock a “neutral” rating in a research note on Wednesday, May 14th. Four equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $126.50.

Insider Buying and Selling at Silicon Laboratories

In other Silicon Laboratories news, Director Christy Wyatt sold 546 shares of Silicon Laboratories stock in a transaction that occurred on Tuesday, May 6th. The stock was sold at an average price of $104.45, for a total transaction of $57,029.70. Following the sale, the director directly owned 8,492 shares of the company’s stock, valued at approximately $886,989.40. The trade was a 6.04% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Robert J. Conrad sold 4,029 shares of Silicon Laboratories stock in a transaction that occurred on Friday, May 16th. The shares were sold at an average price of $131.20, for a total value of $528,604.80. Following the sale, the senior vice president directly owned 25,380 shares in the company, valued at $3,329,856. The trade was a 13.70% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 11,626 shares of company stock valued at $1,509,319. 1.60% of the stock is currently owned by corporate insiders.

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 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.