Bank of New York Mellon Corp Trims Stake in Silicon Laboratories Inc. (NASDAQ:SLAB)

Bank of New York Mellon Corp decreased its holdings in shares of Silicon Laboratories Inc. (NASDAQ:SLAB - Free Report) by 3.6% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 290,634 shares of the semiconductor company's stock after selling 10,934 shares during the quarter. Bank of New York Mellon Corp owned 0.90% of Silicon Laboratories worth $36,103,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. International Assets Investment Management LLC raised its position in shares of Silicon Laboratories by 11,457.1% in the 3rd quarter. International Assets Investment Management LLC now owns 809 shares of the semiconductor company's stock worth $93,000 after acquiring an additional 802 shares in the last quarter. Wealth Enhancement Advisory Services LLC lifted its holdings in Silicon Laboratories by 12.3% during the third quarter. Wealth Enhancement Advisory Services LLC now owns 2,128 shares of the semiconductor company's stock worth $246,000 after acquiring an additional 233 shares during the period. State of Alaska Department of Revenue increased its position in shares of Silicon Laboratories by 7.2% during the 3rd quarter. State of Alaska Department of Revenue now owns 3,711 shares of the semiconductor company's stock valued at $428,000 after purchasing an additional 250 shares during the last quarter. US Bancorp DE grew its position in Silicon Laboratories by 14.0% during the third quarter. US Bancorp DE now owns 1,892 shares of the semiconductor company's stock valued at $219,000 after buying an additional 232 shares during the period. Finally, Harbor Capital Advisors Inc. increased its holdings in Silicon Laboratories by 33.7% during the third quarter. Harbor Capital Advisors Inc. now owns 1,727 shares of the semiconductor company's stock worth $200,000 after buying an additional 435 shares during the last quarter.

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Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on SLAB shares. Susquehanna initiated coverage on shares of Silicon Laboratories in a research note on Tuesday, December 17th. They set a "neutral" rating and a $130.00 price target for the company. Stifel Nicolaus increased their price target on shares of Silicon Laboratories from $135.00 to $145.00 and gave the stock a "buy" rating in a report on Monday, January 6th. Needham & Company LLC raised their price target on shares of Silicon Laboratories from $140.00 to $150.00 and gave the company a "buy" rating in a report on Wednesday, February 5th. Benchmark raised Silicon Laboratories from a "hold" rating to a "buy" rating and set a $160.00 price objective on the stock in a report on Wednesday, February 5th. Finally, StockNews.com lowered Silicon Laboratories from a "hold" rating to a "sell" rating in a research note on Friday, February 28th. One analyst has rated the stock with a sell rating, five have given a hold rating and six have given a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $136.20.

Silicon Laboratories Price Performance

Silicon Laboratories stock traded down $10.01 during mid-day trading on Tuesday, reaching $123.80. 626,634 shares of the company traded hands, compared to its average volume of 375,777. The company has a market capitalization of $4.02 billion, a price-to-earnings ratio of -20.84 and a beta of 1.15. The firm's fifty day moving average is $138.72 and its two-hundred day moving average is $122.73. Silicon Laboratories Inc. has a fifty-two week low of $94.00 and a fifty-two week high of $160.00.

Silicon Laboratories (NASDAQ:SLAB - Get Free Report) last released its quarterly earnings data on Tuesday, February 4th. The semiconductor company reported ($0.11) EPS for the quarter, hitting the consensus estimate of ($0.11). The business had revenue of $166.25 million for the quarter, compared to analyst estimates of $166.09 million. Silicon Laboratories had a negative return on equity of 10.46% and a negative net margin of 32.69%. The business's quarterly revenue was up 91.4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($1.19) EPS. As a group, equities research analysts predict that Silicon Laboratories Inc. will post -0.97 earnings per share for the current year.

Insiders Place Their Bets

In related news, Director William G. Bock sold 1,000 shares of the business's stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $149.43, for a total value of $149,430.00. Following the sale, the director now owns 31,115 shares in the company, valued at approximately $4,649,514.45. The trade was a 3.11 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Navdeep S. Sooch sold 2,360 shares of the stock in a transaction on Wednesday, February 5th. The shares were sold at an average price of $149.00, for a total value of $351,640.00. Following the completion of the sale, the director now owns 400,567 shares in the company, valued at approximately $59,684,483. The trade was a 0.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 5,360 shares of company stock valued at $782,610 in the last ninety days. 1.72% of the stock is currently owned by corporate insiders.

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.