Silicon Laboratories (NASDAQ:SLAB) Stock Price Down 9.6%

Shares of Silicon Laboratories Inc. (NASDAQ:SLAB) dropped 9.6% during trading on Tuesday . The stock traded as low as $106.98 and last traded at $107.05. Approximately 198,242 shares were traded during mid-day trading, a decline of 36% from the average daily volume of 311,947 shares. The stock had previously closed at $118.37.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the stock. Needham & Company LLC reiterated a “buy” rating and issued a $150.00 target price on shares of Silicon Laboratories in a research note on Thursday, July 25th. StockNews.com raised Silicon Laboratories to a “sell” rating in a report on Tuesday, July 23rd. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $135.00.

Silicon Laboratories Stock Up 2.0 %

The company has a market capitalization of $3.48 billion, a PE ratio of -32.90 and a beta of 1.19. The company has a 50-day moving average price of $111.87 and a two-hundred day moving average price of $122.60.

Silicon Laboratories (NASDAQ:SLAB) last posted its earnings results on Wednesday, July 24th. The semiconductor company reported ($0.56) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.64) by $0.08. Silicon Laboratories had a negative return on equity of 9.13% and a negative net margin of 36.53%. The business had revenue of $145.40 million during the quarter, compared to analyst estimates of $140.18 million. During the same quarter in the previous year, the firm earned $0.59 EPS. The company’s quarterly revenue was down 40.6% compared to the same quarter last year. As a group, equities analysts anticipate that Silicon Laboratories Inc. will post -3.4 EPS for the current fiscal year.

Insider Transactions at Silicon Laboratories

In other Silicon Laboratories news, SVP Brandon Tolany sold 845 shares of the firm’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $115.00, for a total value of $97,175.00. Following the sale, the senior vice president now owns 43,615 shares of the company’s stock, valued at approximately $5,015,725. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 1.72% of the company’s stock.

Institutional Trading of Silicon Laboratories

Hedge funds have recently made changes to their positions in the stock. Cullen Frost Bankers Inc. bought a new position in Silicon Laboratories during the second quarter valued at approximately $28,000. CWM LLC grew its holdings in shares of Silicon Laboratories by 78.1% during the 4th quarter. CWM LLC now owns 374 shares of the semiconductor company’s stock valued at $49,000 after purchasing an additional 164 shares during the last quarter. Gladius Capital Management LP raised its position in Silicon Laboratories by 328.7% in the 4th quarter. Gladius Capital Management LP now owns 373 shares of the semiconductor company’s stock worth $49,000 after purchasing an additional 286 shares during the period. Fidelis Capital Partners LLC bought a new stake in Silicon Laboratories in the first quarter worth $55,000. Finally, Daiwa Securities Group Inc. purchased a new stake in Silicon Laboratories during the second quarter valued at about $60,000.

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.