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

Silicon Laboratories Inc. (NASDAQ:SLAB - Get Free Report) Director Navdeep S. Sooch sold 2,360 shares of the firm's stock in a transaction dated Wednesday, February 5th. The shares were sold at an average price of $149.00, for a total transaction of $351,640.00. Following the transaction, the director now directly owns 400,567 shares in the company, valued at $59,684,483. The trade was a 0.59 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Silicon Laboratories Stock Performance

SLAB stock traded up $3.72 on Monday, reaching $146.38. The company's stock had a trading volume of 561,257 shares, compared to its average volume of 375,425. Silicon Laboratories Inc. has a 12-month low of $94.00 and a 12-month high of $154.91. The firm has a market cap of $4.75 billion, a PE ratio of -24.64 and a beta of 1.16. The business has a fifty day simple moving average of $130.38 and a two-hundred day simple moving average of $117.36.

Silicon Laboratories (NASDAQ:SLAB - Get Free Report) last announced its quarterly earnings results on Tuesday, February 4th. The semiconductor company reported ($0.11) earnings per share (EPS) for the quarter, meeting 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 net margin of 32.69% and a negative return on equity of 10.46%. Silicon Laboratories's quarterly revenue was up 91.4% on a year-over-year basis. During the same quarter in the previous year, the company earned ($1.19) earnings per share. As a group, research analysts anticipate that Silicon Laboratories Inc. will post -0.47 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

SLAB has been the topic of several research reports. KeyCorp lifted their price objective on shares of Silicon Laboratories from $115.00 to $160.00 and gave the stock an "overweight" rating in a research report on Wednesday, January 22nd. Benchmark upgraded Silicon Laboratories from a "hold" rating to a "buy" rating and set a $160.00 price objective on the stock in a research note on Wednesday, February 5th. Needham & Company LLC lifted their target price on Silicon Laboratories from $140.00 to $150.00 and gave the company a "buy" rating in a report on Wednesday, February 5th. Barclays increased their price target on shares of Silicon Laboratories from $75.00 to $120.00 and gave the stock an "equal weight" rating in a report on Friday, January 17th. Finally, StockNews.com upgraded shares of Silicon Laboratories from a "sell" rating to a "hold" rating in a research note on Thursday. Six analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, Silicon Laboratories has an average rating of "Moderate Buy" and a consensus price target of $136.20.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the business. Sanctuary Advisors LLC purchased a new position in shares of Silicon Laboratories during the second quarter valued at approximately $229,000. Handelsbanken Fonder AB raised its position 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 worth $1,114,000 after purchasing an additional 2,800 shares during the last quarter. GAMMA Investing LLC boosted its stake in Silicon Laboratories by 84.1% in the 3rd quarter. GAMMA Investing LLC now owns 497 shares of the semiconductor company's stock worth $57,000 after purchasing an additional 227 shares in the last quarter. CWM LLC grew 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 during 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.