Navdeep S. Sooch Sells 2,360 Shares of Silicon Laboratories Inc. (NASDAQ:SLAB) Stock

Silicon Laboratories Inc. (NASDAQ:SLAB) Director Navdeep S. Sooch sold 2,360 shares of Silicon Laboratories stock in a transaction that occurred 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 sale, the director now directly owns 400,567 shares in the company, valued at $59,684,483. This trade represents a 0.59 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

Silicon Laboratories Stock Performance

Shares of NASDAQ SLAB opened at $142.66 on Friday. The company has a market capitalization of $4.63 billion, a P/E ratio of -19.28 and a beta of 1.16. Silicon Laboratories Inc. has a 52-week low of $94.00 and a 52-week high of $154.91. The company’s 50 day moving average price is $129.76 and its 200-day moving average price is $117.13.

Silicon Laboratories (NASDAQ:SLAB) last released its quarterly earnings data on Tuesday, February 4th. The semiconductor company reported ($0.11) earnings per share for the quarter, meeting the consensus estimate of ($0.11). The company had revenue of $166.25 million during the quarter, compared to analyst estimates of $166.09 million. Silicon Laboratories had a negative net margin of 46.93% and a negative return on equity of 12.60%. Silicon Laboratories’s revenue for the quarter was up 91.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($1.19) EPS. Analysts forecast that Silicon Laboratories Inc. will post -3.56 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on SLAB shares. Stifel Nicolaus lifted their target price on shares of Silicon Laboratories from $135.00 to $145.00 and gave the stock a “buy” rating in a research report on Monday, January 6th. Morgan Stanley cut 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 research report on Tuesday, November 5th. Susquehanna started coverage on shares of Silicon Laboratories in a research report on Tuesday, December 17th. They set a “neutral” rating and a $130.00 target price on the stock. Barclays lifted their target price on shares of Silicon Laboratories from $75.00 to $120.00 and gave the stock an “equal weight” rating in a research report on Friday, January 17th. Finally, StockNews.com upgraded shares of Silicon Laboratories from a “sell” rating to a “hold” rating in a research report on Thursday. Six analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, Silicon Laboratories currently has a consensus rating of “Moderate Buy” and an average target price of $136.20.

Institutional Trading of Silicon Laboratories

Several hedge funds have recently modified their holdings of SLAB. Sanctuary Advisors LLC bought a new stake in shares of Silicon Laboratories in the 2nd quarter valued at $229,000. Handelsbanken Fonder AB increased its stake in shares of Silicon Laboratories by 41.0% in the 3rd quarter. Handelsbanken Fonder AB now owns 9,637 shares of the semiconductor company’s stock valued at $1,114,000 after acquiring an additional 2,800 shares in the last quarter. GAMMA Investing LLC increased its stake in shares of Silicon Laboratories by 84.1% in the 3rd quarter. GAMMA Investing LLC now owns 497 shares of the semiconductor company’s stock valued at $57,000 after acquiring an additional 227 shares in the last quarter. CWM LLC increased its stake in shares of Silicon Laboratories by 21.8% in the 3rd quarter. CWM LLC now owns 10,270 shares of the semiconductor company’s stock valued at $1,187,000 after acquiring an additional 1,835 shares in the last quarter. Finally, Inspire Investing LLC increased its stake 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.

Silicon Laboratories Company Profile

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.