Amundi Sells 5,795 Shares of Silicon Laboratories, Inc. $SLAB

Key Points

• Amundi cut its Silicon Laboratories position by 35.6% in the first quarter, selling 5,795 shares and retaining 10,465 shares valued at approximately $2.18 million.
• Institutional sentiment was mixed: Vanguard and several other funds increased their holdings, while CEO Robert Matthew Johnson sold 8,024 shares for roughly $1.74 million.
• Analysts maintain a cautious outlook, with a consensus “Reduce” rating and a $218 target price. SLAB recently traded near $218.47 after reporting quarterly EPS of $0.53, above the $0.49 estimate, while revenue rose 20.1% year over year.

Amundi reduced its position in shares of Silicon Laboratories, Inc. (NASDAQ:SLAB - Free Report) by 35.6% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 10,465 shares of the semiconductor company's stock after selling 5,795 shares during the quarter. Amundi's holdings in Silicon Laboratories were worth $2,178,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in SLAB. Tudor Investment Corp ET AL bought a new stake in shares of Silicon Laboratories during the 3rd quarter worth $4,718,000. California State Teachers Retirement System raised its position in Silicon Laboratories by 21.5% in the first quarter. California State Teachers Retirement System now owns 38,003 shares of the semiconductor company's stock worth $7,910,000 after acquiring an additional 6,737 shares during the period. Vanguard Group Inc. boosted its stake in Silicon Laboratories by 3.1% in the fourth quarter. Vanguard Group Inc. now owns 3,992,407 shares of the semiconductor company's stock valued at $521,808,000 after acquiring an additional 121,432 shares during the last quarter. Hsbc Holdings PLC grew its position in shares of Silicon Laboratories by 74.3% during the 4th quarter. Hsbc Holdings PLC now owns 11,558 shares of the semiconductor company's stock valued at $1,516,000 after acquiring an additional 4,927 shares during the period. Finally, Assenagon Asset Management S.A. grew its position in shares of Silicon Laboratories by 395.2% during the 1st quarter. Assenagon Asset Management S.A. now owns 239,318 shares of the semiconductor company's stock valued at $49,814,000 after acquiring an additional 190,994 shares during the period.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Silicon Laboratories in a report on Wednesday, June 24th. Five equities research analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Reduce" and a consensus target price of $218.00.

Insider Buying and Selling

In related news, CEO Robert Matthew Johnson sold 8,024 shares of Silicon Laboratories 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 sale, the chief executive officer directly owned 80,519 shares in the company, valued at $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 SEC, which is available through this hyperlink. 1.60% of the stock is owned by company insiders.

Silicon Laboratories Stock Performance

Shares of SLAB opened at $218.47 on Friday. The firm has a 50 day moving average price of $218.26 and a 200-day moving average price of $207.35. Silicon Laboratories, Inc. has a fifty-two week low of $115.50 and a fifty-two week high of $220.90. The firm has a market cap of $7.21 billion, a price-to-earnings ratio of -142.79 and a beta of 1.37.

Silicon Laboratories (NASDAQ:SLAB - Get Free Report) last announced its quarterly earnings data 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 firm had revenue of $213.50 million during the quarter, compared to the consensus estimate of $214.02 million. During the same quarter in the previous year, the company posted ($0.08) earnings per share. The business's revenue was up 20.1% on a year-over-year basis. As a group, equities research analysts predict that Silicon Laboratories, Inc. will post 0.74 earnings per share for the current 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.

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