The Manufacturers Life Insurance Company Lowers Stake in Silicon Laboratories, Inc. $SLAB

The Manufacturers Life Insurance Company cut its position in shares of Silicon Laboratories, Inc. (NASDAQ:SLAB) by 21.1% in the 1st quarter, HoldingsChannel.com reports. The fund owned 25,013 shares of the semiconductor company’s stock after selling 6,675 shares during the period. The Manufacturers Life Insurance Company’s holdings in Silicon Laboratories were worth $5,206,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Kestra Advisory Services LLC purchased a new stake in shares of Silicon Laboratories during the 4th quarter worth about $32,000. Covestor Ltd raised its holdings in Silicon Laboratories by 260.3% in the fourth quarter. Covestor Ltd now owns 281 shares of the semiconductor company’s stock valued at $37,000 after buying an additional 203 shares during the period. Kemnay Advisory Services Inc. purchased a new stake in Silicon Laboratories during the fourth quarter worth approximately $44,000. Jones Financial Companies Lllp increased its position in shares of Silicon Laboratories by 121.4% in the first quarter. Jones Financial Companies Lllp now owns 496 shares of the semiconductor company’s stock worth $56,000 after acquiring an additional 272 shares in the last quarter. Finally, Global Retirement Partners LLC raised its stake in shares of Silicon Laboratories by 37.3% in the 4th quarter. Global Retirement Partners LLC now owns 497 shares of the semiconductor company’s stock valued at $65,000 after acquiring an additional 135 shares during the period.

Analyst Ratings Changes

Separately, Weiss Ratings reiterated a “sell (d-)” rating on shares of Silicon Laboratories in a report on Wednesday, June 24th. Five research analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, Silicon Laboratories currently has a consensus rating of “Reduce” and an average price target of $218.00.

Silicon Laboratories Stock Performance

Shares of SLAB opened at $218.47 on Friday. The company has a market capitalization of $7.21 billion, a P/E ratio of -142.79 and a beta of 1.37. Silicon Laboratories, Inc. has a one year low of $115.50 and a one year high of $220.90. The stock has a 50-day moving average price of $218.26 and a 200 day moving average price of $207.35.

Silicon Laboratories (NASDAQ:SLAB) last posted its quarterly earnings data on Tuesday, May 5th. The semiconductor company reported $0.53 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.49 by $0.04. Silicon Laboratories had a negative return on equity of 2.18% and a negative net margin of 6.13%.The company had revenue of $213.50 million for the quarter, compared to the consensus estimate of $214.02 million. During the same period in the previous year, the business earned ($0.08) EPS. Silicon Laboratories’s revenue for the quarter was up 20.1% compared to the same quarter last year. As a group, equities research analysts forecast that Silicon Laboratories, Inc. will post 0.74 earnings per share for the current fiscal year.

Insider Activity at Silicon Laboratories

In other news, CEO Robert Matthew Johnson sold 8,024 shares of the stock in a transaction that occurred on Monday, May 18th. The stock was sold at an average price of $216.83, for a total transaction of $1,739,843.92. Following the completion of the transaction, the chief executive officer directly owned 80,519 shares in the company, valued at approximately $17,458,934.77. This represents a 9.06% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Company insiders own 1.60% of the company’s stock.

About Silicon Laboratories

Silicon Laboratories (NASDAQ:SLAB) is a global semiconductor company that develops high-performance analog and mixed-signal integrated circuits, wireless system-on-chips (SoCs), microcontrollers, and radio frequency (RF) solutions. Its product portfolio is tailored to support the Internet of Things (IoT), infrastructure, industrial automation, consumer electronics, automotive, and energy markets. By combining silicon, software, and tools, Silicon Labs aims to accelerate development cycles and deliver low-power, highly integrated solutions that address demanding application requirements.

Founded in 1996 and headquartered in Austin, Texas, Silicon Labs has grown into a multinational organization with engineering and sales operations across North America, Europe, and Asia.