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

Amalgamated Bank lessened its stake in Silicon Laboratories Inc. (NASDAQ:SLAB) by 4.0% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. 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 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in SLAB. Harbor Capital Advisors Inc. grew its position in shares of Silicon Laboratories by 8.5% during the 2nd quarter. Harbor Capital Advisors Inc. now owns 1,292 shares of the semiconductor company’s stock valued at $143,000 after acquiring an additional 101 shares during the period. Orion Portfolio Solutions LLC grew its position in shares of Silicon Laboratories by 1.1% during the 1st quarter. Orion Portfolio Solutions LLC now owns 9,858 shares of the semiconductor company’s stock valued at $1,417,000 after acquiring an additional 103 shares during the period. Victory Capital Management Inc. grew its position in shares of Silicon Laboratories by 2.3% during the 2nd quarter. Victory Capital Management Inc. now owns 6,638 shares of the semiconductor company’s stock valued at $734,000 after acquiring an additional 150 shares during the period. Arizona State Retirement System grew its position in shares of Silicon Laboratories by 2.3% during the 2nd quarter. Arizona State Retirement System now owns 8,936 shares of the semiconductor company’s stock valued at $989,000 after acquiring an additional 202 shares during the period. Finally, GAMMA Investing LLC grew its position in shares of Silicon Laboratories by 84.1% during the 3rd quarter. GAMMA Investing LLC now owns 497 shares of the semiconductor company’s stock valued at $57,000 after acquiring an additional 227 shares during the period.

Silicon Laboratories Trading Down 3.0 %

Shares of NASDAQ SLAB opened at $105.16 on Wednesday. The firm’s 50-day moving average price is $111.87 and its 200-day moving average price is $115.17. The stock has a market capitalization of $3.41 billion, a price-to-earnings ratio of -14.21 and a beta of 1.20. Silicon Laboratories Inc. has a 12-month low of $93.30 and a 12-month high of $154.91.

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

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on SLAB. KeyCorp cut their price objective on shares of Silicon Laboratories from $150.00 to $115.00 and set an “overweight” rating for the company in a research report on Tuesday, November 5th. Needham & Company LLC reaffirmed a “buy” rating and issued a $150.00 target price on shares of Silicon Laboratories in a report on Thursday, July 25th. Stifel Nicolaus dropped their target price on shares of Silicon Laboratories from $160.00 to $135.00 and set a “buy” rating for the company in a report on Tuesday, November 5th. JPMorgan Chase & Co. dropped their target price on shares of Silicon Laboratories from $150.00 to $135.00 and set an “overweight” rating for the company in a report on Tuesday, November 5th. Finally, Benchmark reaffirmed a “hold” rating on shares of Silicon Laboratories in a report on Tuesday, November 5th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and five have issued a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $121.50.

Insider Activity

In other 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 transaction of $97,175.00. Following the sale, the senior vice president now directly owns 43,615 shares in the company, valued at approximately $5,015,725. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 1.72% of the company’s stock.

Silicon Laboratories 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.