Sei Investments Co. Lowers Stock Position in Silicon Laboratories, Inc. $SLAB

Key Points

• Sei Investments reduced its Silicon Laboratories stake by 65.4% in the first quarter, selling 27,063 shares and retaining 14,339 shares valued at approximately $2.99 million.
• Silicon Laboratories reported quarterly EPS of $0.53, exceeding analyst expectations of $0.49, while revenue rose 20.1% year over year to $213.5 million, slightly below estimates.
• SLAB shares opened at $219.21, near their 12-month high, but analyst sentiment remained cautious: the consensus rating was “Reduce” with a $218 price target, and Weiss Ratings maintained a “sell (D-)” rating.

Sei Investments Co. cut its stake in shares of Silicon Laboratories, Inc. (NASDAQ:SLAB - Free Report) by 65.4% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 14,339 shares of the semiconductor company's stock after selling 27,063 shares during the period. Sei Investments Co.'s holdings in Silicon Laboratories were worth $2,985,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Kestra Advisory Services LLC purchased a new position in shares of Silicon Laboratories during the 4th quarter worth approximately $32,000. Covestor Ltd raised its position 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 purchasing an additional 203 shares during the period. Kemnay Advisory Services Inc. acquired a new position in Silicon Laboratories during the fourth quarter worth $44,000. Jones Financial Companies Lllp lifted its stake in Silicon Laboratories by 121.4% during the first 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 boosted its position in shares of Silicon Laboratories by 37.3% during the fourth quarter. Global Retirement Partners LLC now owns 497 shares of the semiconductor company's stock worth $65,000 after buying an additional 135 shares during the period.

Silicon Laboratories Trading Up 0.3%

Silicon Laboratories stock opened at $219.21 on Friday. Silicon Laboratories, Inc. has a twelve month low of $115.50 and a twelve month high of $220.90. The stock's fifty day simple moving average is $218.29 and its 200-day simple moving average is $207.43. The firm has a market capitalization of $7.23 billion, a P/E ratio of -143.27 and a beta of 1.37.

Silicon Laboratories (NASDAQ:SLAB - Get Free Report) last released its earnings results on Tuesday, May 5th. The semiconductor company reported $0.53 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 analyst estimates of $214.02 million. During the same period last year, the business posted ($0.08) earnings per share. Silicon Laboratories's revenue was up 20.1% compared to the same quarter last year. Sell-side analysts predict that Silicon Laboratories, Inc. will post 0.74 earnings per share for the current year.

Insider Transactions at Silicon Laboratories

In other news, CEO Robert Matthew Johnson sold 8,024 shares of Silicon Laboratories stock in a transaction dated Monday, May 18th. The stock was 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 owned 80,519 shares in the company, valued at approximately $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 can be accessed through the SEC website. 1.60% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Silicon Laboratories in a research note on Wednesday, June 24th. Five research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat, Silicon Laboratories presently has an average rating of "Reduce" and a consensus price target of $218.00.

Silicon Laboratories 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source