Silicon Laboratories (NASDAQ:SLAB) Stock Price Down 3.4% – Should You Sell?

Silicon Laboratories Inc. (NASDAQ:SLAB) shares fell 3.4% during mid-day trading on Friday . The stock traded as low as $136.71 and last traded at $136.64. 51,884 shares changed hands during trading, a decline of 82% from the average session volume of 289,260 shares. The stock had previously closed at $141.51.

Analysts Set New Price Targets

SLAB has been the subject of several recent research reports. KeyCorp boosted their price objective on Silicon Laboratories from $115.00 to $160.00 and gave the company an “overweight” rating in a research report on Wednesday. Morgan Stanley lowered their price target on shares of Silicon Laboratories from $123.00 to $97.00 and set an “equal weight” rating for the company in a report on Tuesday, November 5th. Benchmark reissued a “hold” rating on shares of Silicon Laboratories in a report on Tuesday, November 5th. JPMorgan Chase & Co. lowered their price objective on shares of Silicon Laboratories from $150.00 to $135.00 and set an “overweight” rating for the company in a research note on Tuesday, November 5th. Finally, StockNews.com raised Silicon Laboratories to a “sell” rating in a research note on Friday, November 8th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and five have given a buy rating to the stock. According to MarketBeat, Silicon Laboratories presently has an average rating of “Hold” and a consensus price target of $133.56.

Silicon Laboratories Price Performance

The firm has a 50-day moving average price of $123.32 and a 200-day moving average price of $115.75.

Silicon Laboratories (NASDAQ:SLAB) last posted its quarterly earnings data on Monday, November 4th. The semiconductor company reported ($0.13) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.20) by $0.07. Silicon Laboratories had a negative return on equity of 12.60% and a negative net margin of 46.93%. The business had revenue of $166.00 million during the quarter, compared to the consensus estimate of $165.50 million. During the same quarter in the prior year, the company earned $0.48 earnings per share. The firm’s quarterly revenue was down 18.5% compared to the same quarter last year. On average, research analysts expect that Silicon Laboratories Inc. will post -3.56 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director William G. Bock sold 2,000 shares of the firm’s stock in a transaction that occurred on Wednesday, January 22nd. The stock was sold at an average price of $140.77, for a total transaction of $281,540.00. Following the completion of the transaction, the director now owns 32,115 shares of the company’s stock, valued at $4,520,828.55. This trade represents a 5.86 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.72% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Silicon Laboratories

Institutional investors have recently modified their holdings of the stock. Pacer Advisors Inc. boosted its stake in Silicon Laboratories by 1.8% in the 4th quarter. Pacer Advisors Inc. now owns 4,839 shares of the semiconductor company’s stock worth $601,000 after purchasing an additional 87 shares in the last quarter. Procyon Advisors LLC raised its holdings in Silicon Laboratories by 4.4% in the fourth quarter. Procyon Advisors LLC now owns 3,176 shares of the semiconductor company’s stock worth $395,000 after buying an additional 133 shares during the last quarter. Advisors Asset Management Inc. lifted its stake in shares of Silicon Laboratories by 159.4% in the third quarter. Advisors Asset Management Inc. now owns 275 shares of the semiconductor company’s stock worth $32,000 after buying an additional 169 shares in the last quarter. GAMMA Investing LLC grew its holdings in shares of Silicon Laboratories by 84.1% during the third quarter. GAMMA Investing LLC now owns 497 shares of the semiconductor company’s stock valued at $57,000 after buying an additional 227 shares during the last quarter. Finally, US Bancorp DE increased its position in shares of Silicon Laboratories by 14.0% during the third quarter. US Bancorp DE now owns 1,892 shares of the semiconductor company’s stock valued at $219,000 after acquiring an additional 232 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.