Amalgamated Bank Cuts Holdings in Silicon Laboratories Inc. (NASDAQ:SLAB)

Amalgamated Bank cut its position in shares of Silicon Laboratories Inc. (NASDAQ:SLABGet Rating) by 9.3% during the 1st quarter, Holdings Channel reports. The firm owned 25,979 shares of the semiconductor company’s stock after selling 2,649 shares during the quarter. Amalgamated Bank’s holdings in Silicon Laboratories were worth $3,902,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Alliancebernstein L.P. boosted its holdings in Silicon Laboratories by 40.9% during the fourth quarter. Alliancebernstein L.P. now owns 891,278 shares of the semiconductor company’s stock worth $183,978,000 after purchasing an additional 258,534 shares during the last quarter. GW&K Investment Management LLC raised its position in Silicon Laboratories by 5.6% in the first quarter. GW&K Investment Management LLC now owns 786,539 shares of the semiconductor company’s stock worth $118,138,000 after acquiring an additional 41,516 shares during the period. Dimensional Fund Advisors LP raised its position in Silicon Laboratories by 1.5% in the first quarter. Dimensional Fund Advisors LP now owns 516,660 shares of the semiconductor company’s stock worth $77,605,000 after acquiring an additional 7,766 shares during the period. Stephens Investment Management Group LLC raised its position in Silicon Laboratories by 1.7% in the first quarter. Stephens Investment Management Group LLC now owns 460,702 shares of the semiconductor company’s stock worth $69,197,000 after acquiring an additional 7,922 shares during the period. Finally, Eagle Asset Management Inc. raised its position in Silicon Laboratories by 4.1% in the first quarter. Eagle Asset Management Inc. now owns 418,470 shares of the semiconductor company’s stock worth $62,854,000 after acquiring an additional 16,392 shares during the period. 99.62% of the stock is currently owned by hedge funds and other institutional investors.

Silicon Laboratories Stock Performance

NASDAQ SLAB opened at $127.68 on Thursday. The company’s 50 day moving average is $136.08 and its 200-day moving average is $138.78. Silicon Laboratories Inc. has a 12-month low of $113.47 and a 12-month high of $211.98. The company has a quick ratio of 7.05, a current ratio of 7.37 and a debt-to-equity ratio of 0.33. The firm has a market cap of $4.37 billion, a P/E ratio of 2.67 and a beta of 1.19.

Silicon Laboratories (NASDAQ:SLABGet Rating) last posted its earnings results on Wednesday, July 27th. The semiconductor company reported $1.17 earnings per share for the quarter, topping analysts’ consensus estimates of $0.91 by $0.26. The business had revenue of $263.00 million for the quarter, compared to analyst estimates of $250.46 million. Silicon Laboratories had a net margin of 239.09% and a return on equity of 3.61%. Silicon Laboratories’s revenue was up 55.6% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.81 EPS. Sell-side analysts predict that Silicon Laboratories Inc. will post 3.28 earnings per share for the current year.

Insider Buying and Selling

In related news, Director Christy Wyatt sold 1,495 shares of the company’s stock in a transaction that occurred on Wednesday, August 24th. The shares were sold at an average price of $134.44, for a total transaction of $200,987.80. Following the sale, the director now owns 5,222 shares of the company’s stock, valued at approximately $702,045.68. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, Director William G. Bock sold 1,000 shares of the company’s stock in a transaction that occurred on Monday, August 15th. The shares were sold at an average price of $146.70, for a total transaction of $146,700.00. Following the sale, the director now owns 31,468 shares of the company’s stock, valued at approximately $4,616,355.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Christy Wyatt sold 1,495 shares of the business’s stock in a transaction that occurred on Wednesday, August 24th. The stock was sold at an average price of $134.44, for a total transaction of $200,987.80. Following the completion of the transaction, the director now directly owns 5,222 shares of the company’s stock, valued at approximately $702,045.68. The disclosure for this sale can be found here. 1.61% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several brokerages have commented on SLAB. Needham & Company LLC lifted their price objective on shares of Silicon Laboratories from $150.00 to $165.00 and gave the stock a “buy” rating in a research report on Thursday, July 28th. Cowen lifted their price objective on shares of Silicon Laboratories from $170.00 to $175.00 in a research report on Thursday, July 28th. Summit Insights lowered shares of Silicon Laboratories from a “buy” rating to a “hold” rating in a research report on Thursday, July 28th. Cowen boosted their price target on shares of Silicon Laboratories from $170.00 to $175.00 in a research report on Thursday, July 28th. Finally, Morgan Stanley boosted their price target on shares of Silicon Laboratories from $156.00 to $161.00 and gave the company an “equal weight” rating in a research report on Thursday, July 28th. Four investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $181.38.

About Silicon Laboratories

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Silicon Laboratories Inc, a fabless semiconductor company, provides various analog-intensive mixed-signal solutions in the United States, China, 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.

Further Reading

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Institutional Ownership by Quarter for Silicon Laboratories (NASDAQ:SLAB)

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