Silicon Laboratories, Inc. $SLAB Shares Sold by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company lessened its stake in Silicon Laboratories, Inc. (NASDAQ:SLAB) by 21.1% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 25,013 shares of the semiconductor company’s stock after selling 6,675 shares during the quarter. The Manufacturers Life Insurance Company owned 0.08% of Silicon Laboratories worth $5,206,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in SLAB. AQR Capital Management LLC grew its position in Silicon Laboratories by 43.7% during the first quarter. AQR Capital Management LLC now owns 17,892 shares of the semiconductor company’s stock worth $2,001,000 after buying an additional 5,439 shares during the period. Millennium Management LLC increased its holdings in Silicon Laboratories by 2,804.1% in the first quarter. Millennium Management LLC now owns 99,842 shares of the semiconductor company’s stock valued at $11,239,000 after buying an additional 96,404 shares in the last quarter. Jones Financial Companies Lllp lifted its position in shares of Silicon Laboratories by 121.4% during the 1st quarter. Jones Financial Companies Lllp now owns 496 shares of the semiconductor company’s stock valued at $56,000 after acquiring an additional 272 shares during the period. United Services Automobile Association acquired a new stake in shares of Silicon Laboratories during the 1st quarter valued at approximately $235,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in shares of Silicon Laboratories by 1.8% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 97,156 shares of the semiconductor company’s stock worth $10,937,000 after acquiring an additional 1,679 shares in the last quarter.

Insider Transactions at Silicon Laboratories

In related news, CEO Robert Matthew Johnson sold 8,024 shares of the business’s stock in a transaction that occurred 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 sale, the chief executive officer directly owned 80,519 shares in the company, valued at approximately $17,458,934.77. The trade was a 9.06% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 1.60% of the company’s stock.

Analyst Ratings Changes

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

Silicon Laboratories Stock Up 0.1%

SLAB opened at $218.47 on Friday. The firm has a market cap of $7.21 billion, a P/E ratio of -142.79 and a beta of 1.37. Silicon Laboratories, Inc. has a 52 week low of $115.50 and a 52 week high of $220.90. The business’s fifty day simple moving average is $218.26 and its 200 day simple moving average is $207.35.

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

Silicon Laboratories Company Profile

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.