Amalgamated Bank Sells 619 Shares of Silicon Laboratories Inc. (NASDAQ:SLAB)

Amalgamated Bank cut its holdings in shares of Silicon Laboratories Inc. (NASDAQ:SLAB) by 4.0% during the third quarter, Holdings Channel.com reports. The firm owned 14,810 shares of the semiconductor company’s stock after selling 619 shares during the period. Amalgamated Bank’s holdings in Silicon Laboratories were worth $1,712,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of SLAB. Cullen Frost Bankers Inc. bought a new position in shares of Silicon Laboratories during the second quarter valued at approximately $28,000. GAMMA Investing LLC boosted its stake in shares of Silicon Laboratories by 84.1% during the third quarter. GAMMA Investing LLC now owns 497 shares of the semiconductor company’s stock valued at $57,000 after purchasing an additional 227 shares in the last quarter. Daiwa Securities Group Inc. bought a new position in shares of Silicon Laboratories during the second quarter valued at approximately $60,000. Migdal Insurance & Financial Holdings Ltd. purchased a new stake in Silicon Laboratories during the second quarter valued at approximately $82,000. Finally, International Assets Investment Management LLC lifted its position in Silicon Laboratories by 11,457.1% during the third quarter. International Assets Investment Management LLC now owns 809 shares of the semiconductor company’s stock valued at $93,000 after acquiring an additional 802 shares during the last quarter.

Insider Activity at Silicon Laboratories

In related news, SVP Brandon Tolany sold 845 shares of the firm’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $115.00, for a total transaction of $97,175.00. Following the sale, the senior vice president now owns 43,615 shares in the company, valued at approximately $5,015,725. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.72% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on SLAB shares. Needham & Company LLC reissued a “buy” rating and set a $150.00 target price on shares of Silicon Laboratories in a research report on Thursday, July 25th. Benchmark reissued a “hold” rating on shares of Silicon Laboratories in a research report on Tuesday, November 5th. JPMorgan Chase & Co. decreased their target price on shares of Silicon Laboratories from $150.00 to $135.00 and set an “overweight” rating for the company in a research report on Tuesday, November 5th. Stifel Nicolaus decreased their target price on shares of Silicon Laboratories from $160.00 to $135.00 and set a “buy” rating for the company in a research report on Tuesday, November 5th. Finally, StockNews.com raised shares of Silicon Laboratories to a “sell” rating in a research report on Friday, November 8th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, Silicon Laboratories presently has an average rating of “Hold” and a consensus price target of $121.50.

Silicon Laboratories Price Performance

Shares of Silicon Laboratories stock opened at $105.16 on Wednesday. The firm has a fifty day moving average price of $111.87 and a 200 day moving average price of $115.17. Silicon Laboratories Inc. has a 1 year low of $93.30 and a 1 year high of $154.91. The stock has a market cap of $3.41 billion, a PE ratio of -14.21 and a beta of 1.20.

Silicon Laboratories (NASDAQ:SLAB) last issued its earnings results on Monday, November 4th. The semiconductor company reported ($0.13) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.20) by $0.07. Silicon Laboratories had a negative net margin of 46.93% and a negative return on equity of 12.60%. The firm had revenue of $166.00 million during the quarter, compared to analysts’ expectations of $165.50 million. During the same quarter last year, the company posted $0.48 earnings per share. The firm’s revenue was down 18.5% compared to the same quarter last year. As a group, equities analysts expect that Silicon Laboratories Inc. will post -3.56 EPS for the current year.

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.