Bank of New York Mellon Corp Sells 5,996 Shares of Silicon Laboratories, Inc. $SLAB

Bank of New York Mellon Corp reduced its position in shares of Silicon Laboratories, Inc. (NASDAQ:SLAB) by 2.7% in the first quarter, HoldingsChannel.com reports. The firm owned 214,231 shares of the semiconductor company’s stock after selling 5,996 shares during the period. Bank of New York Mellon Corp’s holdings in Silicon Laboratories were worth $44,592,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in SLAB. Kestra Advisory Services LLC bought a new position in shares of Silicon Laboratories in the 4th quarter worth about $32,000. Covestor Ltd raised its position in shares of Silicon Laboratories by 260.3% in the 4th quarter. Covestor Ltd now owns 281 shares of the semiconductor company’s stock worth $37,000 after purchasing an additional 203 shares during the last quarter. Kemnay Advisory Services Inc. bought a new position in Silicon Laboratories in the 4th quarter worth about $44,000. Jones Financial Companies Lllp boosted its stake in Silicon Laboratories by 121.4% in the 1st quarter. Jones Financial Companies Lllp now owns 496 shares of the semiconductor company’s stock worth $56,000 after purchasing an additional 272 shares in the last quarter. Finally, Global Retirement Partners LLC grew its position in Silicon Laboratories by 37.3% during the 4th quarter. Global Retirement Partners LLC now owns 497 shares of the semiconductor company’s stock valued at $65,000 after purchasing an additional 135 shares during the last quarter.

Silicon Laboratories Trading Up 0.1%

NASDAQ:SLAB opened at $216.88 on Friday. The business’s 50-day moving average is $218.24 and its 200 day moving average is $202.46. Silicon Laboratories, Inc. has a 12 month low of $115.50 and a 12 month high of $220.90. The company has a market capitalization of $7.15 billion, a P/E ratio of -141.75 and a beta of 1.36.

Silicon Laboratories (NASDAQ:SLAB) last released its quarterly earnings results on Tuesday, May 5th. The semiconductor company reported $0.53 earnings per share for the quarter, beating 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 business had revenue of $213.50 million during the quarter, compared to analysts’ expectations of $214.02 million. During the same quarter last year, the business posted ($0.08) EPS. The firm’s revenue for the quarter was up 20.1% compared to the same quarter last year. On average, research analysts forecast that Silicon Laboratories, Inc. will post 0.74 earnings per share for the current year.

Insider Activity at Silicon Laboratories

In other Silicon Laboratories news, CEO Robert Matthew Johnson sold 8,024 shares of Silicon Laboratories stock in a transaction on Monday, May 18th. The shares were sold at an average price of $216.83, for a total value of $1,739,843.92. Following the completion of the transaction, the chief executive officer directly owned 80,519 shares of the company’s stock, valued at $17,458,934.77. This trade represents a 9.06% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. 1.60% of the stock is owned by insiders.

Analyst Ratings Changes

Separately, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Silicon Laboratories in a report on Wednesday, June 24th. Seven research analysts have rated the stock with a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of “Reduce” and an average target price of $177.50.

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.