Insider Selling: Silicon Laboratories Inc. (NASDAQ:SLAB) Director Sells 2,360 Shares of Stock

Silicon Laboratories Inc. (NASDAQ:SLAB) Director Navdeep S. Sooch sold 2,360 shares of the firm’s stock in a transaction dated Wednesday, February 5th. The shares were sold at an average price of $149.00, for a total value of $351,640.00. Following the transaction, the director now owns 400,567 shares of the company’s stock, valued at approximately $59,684,483. The trade was a 0.59 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

Silicon Laboratories Stock Down 0.6 %

Shares of SLAB stock traded down $0.90 during trading hours on Thursday, hitting $148.16. 310,494 shares of the company’s stock were exchanged, compared to its average volume of 352,138. The firm has a 50 day moving average of $128.35 and a two-hundred day moving average of $116.74. Silicon Laboratories Inc. has a fifty-two week low of $94.00 and a fifty-two week high of $154.91. The firm has a market cap of $4.81 billion, a P/E ratio of -19.98 and a beta of 1.16.

Silicon Laboratories (NASDAQ:SLAB) last announced its earnings results on Tuesday, February 4th. The semiconductor company reported ($0.11) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.11). The company had revenue of $166.25 million for the quarter, compared to analysts’ expectations of $166.09 million. Silicon Laboratories had a negative net margin of 46.93% and a negative return on equity of 12.60%. The firm’s quarterly revenue was up 91.4% on a year-over-year basis. During the same quarter in the previous year, the company posted ($1.19) EPS. On average, equities analysts forecast that Silicon Laboratories Inc. will post -3.56 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Silicon Laboratories

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Charles Schwab Investment Management Inc. boosted its stake in Silicon Laboratories by 5.3% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 439,796 shares of the semiconductor company’s stock worth $54,631,000 after buying an additional 21,991 shares during the last quarter. Jones Financial Companies Lllp boosted its position in shares of Silicon Laboratories by 44.5% during the 4th quarter. Jones Financial Companies Lllp now owns 224 shares of the semiconductor company’s stock valued at $28,000 after acquiring an additional 69 shares during the last quarter. Fisher Asset Management LLC grew its holdings in shares of Silicon Laboratories by 114.4% in the fourth quarter. Fisher Asset Management LLC now owns 119,292 shares of the semiconductor company’s stock valued at $14,818,000 after purchasing an additional 63,652 shares during the period. GW&K Investment Management LLC increased its position in Silicon Laboratories by 5.6% during the fourth quarter. GW&K Investment Management LLC now owns 682,045 shares of the semiconductor company’s stock worth $84,723,000 after purchasing an additional 36,330 shares during the last quarter. Finally, Proficio Capital Partners LLC purchased a new position in Silicon Laboratories during the fourth quarter worth about $2,423,000.

Analyst Ratings Changes

A number of equities analysts have commented on SLAB shares. Barclays lifted their price objective on shares of Silicon Laboratories from $75.00 to $120.00 and gave the stock an “equal weight” rating in a research note on Friday, January 17th. Susquehanna started coverage on Silicon Laboratories in a research report on Tuesday, December 17th. They issued a “neutral” rating and a $130.00 price target for the company. Needham & Company LLC upped their price objective on Silicon Laboratories from $140.00 to $150.00 and gave the company a “buy” rating in a research report on Wednesday. Benchmark upgraded Silicon Laboratories from a “hold” rating to a “buy” rating and set a $160.00 target price for the company in a report on Wednesday. Finally, Stifel Nicolaus increased their price target on Silicon Laboratories from $135.00 to $145.00 and gave the company a “buy” rating in a report on Monday, January 6th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $136.20.

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.