Silicon Laboratories Inc. (NASDAQ:SLAB) Director Sells $351,640.00 in Stock

Silicon Laboratories Inc. (NASDAQ:SLAB) Director Navdeep S. Sooch sold 2,360 shares of Silicon Laboratories stock in a transaction on Wednesday, February 5th. The shares were sold at an average price of $149.00, for a total transaction 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. This represents a 0.59 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website.

Silicon Laboratories Trading Down 1.1 %

Shares of NASDAQ:SLAB opened at $147.40 on Friday. Silicon Laboratories Inc. has a 12 month low of $94.00 and a 12 month high of $154.91. The firm’s 50-day moving average is $129.12 and its 200 day moving average is $116.96.

Silicon Laboratories (NASDAQ:SLAB) last announced its quarterly earnings data 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 return on equity of 12.60% and a negative net margin of 46.93%. Silicon Laboratories’s revenue was up 91.4% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($1.19) earnings per share. Sell-side analysts anticipate that Silicon Laboratories Inc. will post -3.56 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on SLAB. Needham & Company LLC lifted 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. Benchmark upgraded shares of Silicon Laboratories from a “hold” rating to a “buy” rating and set a $160.00 target price on the stock in a report on Wednesday. Susquehanna assumed coverage on shares of Silicon Laboratories in a report on Tuesday, December 17th. They issued a “neutral” rating and a $130.00 target price on the stock. Stifel Nicolaus boosted their target price 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. Finally, Morgan Stanley reduced their target price on shares of Silicon Laboratories from $123.00 to $97.00 and set an “equal weight” rating on the stock in a report on Tuesday, November 5th. Six investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $136.20.

Institutional Investors Weigh In On Silicon Laboratories

A number of institutional investors and hedge funds have recently bought and sold shares of SLAB. Sanctuary Advisors LLC bought a new stake in Silicon Laboratories during the 2nd quarter valued at $229,000. Handelsbanken Fonder AB raised its position in Silicon Laboratories by 41.0% during the 3rd quarter. Handelsbanken Fonder AB now owns 9,637 shares of the semiconductor company’s stock valued at $1,114,000 after purchasing an additional 2,800 shares in the last quarter. GAMMA Investing LLC raised its position in Silicon Laboratories by 84.1% during the 3rd quarter. GAMMA Investing LLC now owns 497 shares of the semiconductor company’s stock valued at $57,000 after purchasing an additional 227 shares in the last quarter. CWM LLC raised its position in Silicon Laboratories by 21.8% during the 3rd quarter. CWM LLC now owns 10,270 shares of the semiconductor company’s stock valued at $1,187,000 after purchasing an additional 1,835 shares in the last quarter. Finally, Inspire Investing LLC raised its position in Silicon Laboratories by 12.8% during the 3rd quarter. Inspire Investing LLC now owns 3,580 shares of the semiconductor company’s stock valued at $414,000 after purchasing an additional 405 shares in the last quarter.

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.