Silicon Laboratories (NASDAQ:SLAB) Shares Down 3.4% - Here's What Happened

Silicon Laboratories Inc. (NASDAQ:SLAB - Get Free Report) dropped 3.4% on Friday . The company traded as low as $136.71 and last traded at $136.64. Approximately 51,884 shares were traded during mid-day trading, a decline of 82% from the average daily volume of 289,260 shares. The stock had previously closed at $141.51.

Analysts Set New Price Targets

A number of analysts recently commented on the company. Morgan Stanley decreased their price target on Silicon Laboratories from $123.00 to $97.00 and set an "equal weight" rating for the company in a research report on Tuesday, November 5th. Benchmark reaffirmed a "hold" rating on shares of Silicon Laboratories in a research report on Tuesday, November 5th. JPMorgan Chase & Co. cut their price target on shares of Silicon Laboratories from $150.00 to $135.00 and set an "overweight" rating on the stock in a report on Tuesday, November 5th. Susquehanna began coverage on shares of Silicon Laboratories in a report on Tuesday, December 17th. They set a "neutral" rating and a $130.00 price objective for the company. Finally, Barclays boosted their target price on shares of Silicon Laboratories from $75.00 to $120.00 and gave the company an "equal weight" rating in a research note on Friday, January 17th. One research analyst has rated the stock with a sell rating, six have given a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $133.56.

Silicon Laboratories Trading Down 4.2 %

The company has a market capitalization of $4.40 billion, a P/E ratio of -18.31 and a beta of 1.17. The company's fifty day moving average is $123.32 and its 200 day moving average is $115.75.

Silicon Laboratories (NASDAQ:SLAB - Get Free Report) last posted its quarterly earnings results on Monday, November 4th. The semiconductor company reported ($0.13) EPS for the quarter, topping analysts' consensus estimates of ($0.20) by $0.07. The firm had revenue of $166.00 million during the quarter, compared to analyst estimates of $165.50 million. Silicon Laboratories had a negative return on equity of 12.60% and a negative net margin of 46.93%. The business's revenue for the quarter was down 18.5% on a year-over-year basis. During the same period last year, the company earned $0.48 earnings per share. Equities research analysts predict that Silicon Laboratories Inc. will post -3.56 EPS for the current year.

Insider Activity

In related news, Director William G. Bock sold 2,000 shares of Silicon Laboratories stock in a transaction 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 sale, the director now owns 32,115 shares of the company's stock, valued at approximately $4,520,828.55. This trade represents a 5.86 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 1.72% of the company's stock.

Hedge Funds Weigh In On Silicon Laboratories

A number of institutional investors have recently added to or reduced their stakes in the business. Advisors Asset Management Inc. raised its stake in Silicon Laboratories by 159.4% in the third quarter. Advisors Asset Management Inc. now owns 275 shares of the semiconductor company's stock valued at $32,000 after purchasing an additional 169 shares in the last quarter. GAMMA Investing LLC raised its position in shares of Silicon Laboratories by 84.1% during the 3rd quarter. GAMMA Investing LLC now owns 497 shares of the semiconductor company's stock valued at $57,000 after buying an additional 227 shares in the last quarter. International Assets Investment Management LLC lifted its holdings in shares of Silicon Laboratories by 11,457.1% during the 3rd quarter. International Assets Investment Management LLC now owns 809 shares of the semiconductor company's stock worth $93,000 after acquiring an additional 802 shares during the last quarter. KBC Group NV grew its position in Silicon Laboratories by 42.1% in the fourth quarter. KBC Group NV now owns 1,279 shares of the semiconductor company's stock worth $159,000 after acquiring an additional 379 shares in the last quarter. Finally, nVerses Capital LLC purchased a new position in Silicon Laboratories in the third quarter worth $196,000.

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.