Algert Global LLC Decreases Position in Silicon Laboratories Inc. (NASDAQ:SLAB)

Algert Global LLC trimmed its holdings in Silicon Laboratories Inc. (NASDAQ:SLAB) by 46.9% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 10,095 shares of the semiconductor company’s stock after selling 8,925 shares during the period. Algert Global LLC’s holdings in Silicon Laboratories were worth $1,117,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also bought and sold shares of the company. Pathstone Holdings LLC purchased a new position in shares of Silicon Laboratories during the 4th quarter valued at $58,205,000. CWM LLC increased its position in shares of Silicon Laboratories by 185.0% during the second quarter. CWM LLC now owns 8,435 shares of the semiconductor company’s stock valued at $933,000 after buying an additional 5,475 shares during the period. Natixis purchased a new position in shares of Silicon Laboratories during the first quarter valued at about $647,000. Vanguard Group Inc. increased its position in shares of Silicon Laboratories by 0.7% during the first quarter. Vanguard Group Inc. now owns 3,489,160 shares of the semiconductor company’s stock valued at $501,462,000 after buying an additional 24,997 shares during the period. Finally, SG Americas Securities LLC increased its position in shares of Silicon Laboratories by 284.6% during the second quarter. SG Americas Securities LLC now owns 7,076 shares of the semiconductor company’s stock valued at $783,000 after buying an additional 5,236 shares during the period.

Silicon Laboratories Price Performance

Shares of Silicon Laboratories stock opened at $116.58 on Friday. The company’s fifty day simple moving average is $110.31 and its 200-day simple moving average is $118.72. The stock has a market capitalization of $3.72 billion, a PE ratio of -35.22 and a beta of 1.19. Silicon Laboratories Inc. has a 1-year low of $74.56 and a 1-year high of $154.91.

Silicon Laboratories (NASDAQ:SLAB) last announced its quarterly earnings data on Wednesday, July 24th. The semiconductor company reported ($0.56) EPS for the quarter, beating the consensus estimate of ($0.64) by $0.08. The firm had revenue of $145.40 million for the quarter, compared to the consensus estimate of $140.18 million. Silicon Laboratories had a negative net margin of 36.53% and a negative return on equity of 9.13%. The company’s revenue was down 40.6% on a year-over-year basis. During the same period last year, the firm earned $0.59 EPS. As a group, research analysts anticipate that Silicon Laboratories Inc. will post -3.41 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the stock. StockNews.com upgraded shares of Silicon Laboratories to a “sell” rating in a report on Tuesday, July 23rd. Needham & Company LLC restated a “buy” rating and set a $150.00 price objective on shares of Silicon Laboratories in a research report on Thursday, July 25th. One research analyst has rated the stock with a sell rating, five have given a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $135.00.

Insider Activity

In other 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 directly owns 43,615 shares in the company, valued at $5,015,725. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 1.72% of the company’s stock.

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.