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

Silicon Laboratories Inc. (NASDAQ:SLAB) Director Navdeep S. Sooch sold 2,360 shares of the firm’s 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 of the company’s stock, valued at $59,684,483. This trade represents a 0.59 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

Silicon Laboratories Trading Down 1.1 %

Shares of Silicon Laboratories stock opened at $147.40 on Friday. The company’s fifty day simple moving average is $129.12 and its 200-day simple moving average is $116.96. Silicon Laboratories Inc. has a 1-year low of $94.00 and a 1-year high of $154.91.

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

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on SLAB shares. JPMorgan Chase & Co. reduced their price target on shares of Silicon Laboratories from $150.00 to $135.00 and set an “overweight” rating for the company in a research report on Tuesday, November 5th. KeyCorp raised their price target on shares of Silicon Laboratories from $115.00 to $160.00 and gave the company an “overweight” rating in a research report on Wednesday, January 22nd. 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. Stifel Nicolaus raised 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 dropped 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 equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $136.20.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. FMR LLC lifted its stake in shares of Silicon Laboratories by 1.1% during the 3rd quarter. FMR LLC now owns 4,843,370 shares of the semiconductor company’s stock valued at $559,748,000 after buying an additional 54,708 shares in the last quarter. Wellington Management Group LLP lifted its stake in shares of Silicon Laboratories by 28.3% during the 3rd quarter. Wellington Management Group LLP now owns 888,382 shares of the semiconductor company’s stock valued at $102,670,000 after buying an additional 195,997 shares in the last quarter. Geode Capital Management LLC lifted its stake in shares of Silicon Laboratories by 2.1% during the 3rd quarter. Geode Capital Management LLC now owns 781,049 shares of the semiconductor company’s stock valued at $90,282,000 after buying an additional 15,728 shares in the last quarter. GW&K Investment Management LLC lifted its stake in shares of Silicon Laboratories by 5.6% during the 4th quarter. GW&K Investment Management LLC now owns 682,045 shares of the semiconductor company’s stock valued at $84,723,000 after buying an additional 36,330 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its stake in shares of Silicon Laboratories by 5.3% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 439,796 shares of the semiconductor company’s stock valued at $54,631,000 after buying an additional 21,991 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.