Key Points
- CEO Robert Matthew Johnson sold 8,024 shares of Silicon Laboratories stock on May 18 for about $1.74 million at an average price of $216.83 per share. After the sale, he still owned 80,519 shares, and the transaction reduced his position by 9.06%.
- Silicon Laboratories beat earnings expectations in its latest quarterly report, posting EPS of $0.53 versus the consensus estimate of $0.49. Revenue came in at $213.5 million, slightly below forecasts, but still rose 20.1% year over year.
- Wall Street remains cautious on SLAB despite some raised price targets. The stock currently has a consensus Hold rating, with an average analyst price target of $170.00.
Silicon Laboratories, Inc. (NASDAQ:SLAB - Get Free Report) CEO Robert Matthew Johnson sold 8,024 shares of Silicon Laboratories stock in a transaction dated Monday, May 18th. The stock was sold at an average price of $216.83, for a total value of $1,739,843.92. Following the sale, the chief executive officer directly owned 80,519 shares of the company's stock, valued at $17,458,934.77. This trade represents a 9.06% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.
Silicon Laboratories Trading Down 0.1%
Shares of SLAB stock opened at $216.46 on Wednesday. The stock has a 50 day moving average of $211.05 and a 200 day moving average of $173.27. The stock has a market cap of $7.14 billion, a P/E ratio of -141.48 and a beta of 1.40. Silicon Laboratories, Inc. has a twelve month low of $115.50 and a twelve month high of $218.68.
Silicon Laboratories (NASDAQ:SLAB - Get Free Report) last announced its quarterly earnings results on Tuesday, May 5th. The semiconductor company reported $0.53 earnings per share for the quarter, beating the consensus estimate of $0.49 by $0.04. The company had revenue of $213.50 million during the quarter, compared to analysts' expectations of $214.02 million. Silicon Laboratories had a negative return on equity of 2.18% and a negative net margin of 6.13%.Silicon Laboratories's quarterly revenue was up 20.1% on a year-over-year basis. During the same period last year, the business earned ($0.08) earnings per share. On average, research analysts predict that Silicon Laboratories, Inc. will post 0.74 earnings per share for the current fiscal year.
Wall Street Analyst Weigh In
SLAB has been the subject of several recent research reports. Citigroup lifted their price target on Silicon Laboratories from $135.00 to $231.00 and gave the company a "neutral" rating in a research report on Friday, February 6th. Benchmark cut Silicon Laboratories from a "buy" rating to a "hold" rating in a research report on Wednesday, February 4th. Needham & Company LLC cut Silicon Laboratories from a "buy" rating to a "hold" rating in a research report on Wednesday, February 4th. KeyCorp cut Silicon Laboratories from an "overweight" rating to a "hold" rating in a research report on Wednesday, February 4th. Finally, Royal Bank Of Canada raised their price objective on Silicon Laboratories from $160.00 to $205.00 and gave the company a "sector perform" rating in a report on Thursday, February 5th. One analyst has rated the stock with a Buy rating, eight have given a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Hold" and an average price target of $170.00.
Read Our Latest Stock Report on Silicon Laboratories
Institutional Trading of Silicon Laboratories
Institutional investors have recently bought and sold shares of the business. EverSource Wealth Advisors LLC grew its holdings in Silicon Laboratories by 66.7% in the first quarter. EverSource Wealth Advisors LLC now owns 225 shares of the semiconductor company's stock valued at $47,000 after purchasing an additional 90 shares during the period. Kestra Advisory Services LLC acquired a new stake in Silicon Laboratories in the fourth quarter valued at approximately $32,000. Covestor Ltd grew its holdings in Silicon Laboratories by 260.3% in the fourth quarter. Covestor Ltd now owns 281 shares of the semiconductor company's stock valued at $37,000 after purchasing an additional 203 shares during the period. UMB Bank n.a. boosted its stake in shares of Silicon Laboratories by 43.9% in the third quarter. UMB Bank n.a. now owns 282 shares of the semiconductor company's stock worth $37,000 after acquiring an additional 86 shares during the last quarter. Finally, Kemnay Advisory Services Inc. acquired a new stake in shares of Silicon Laboratories in the fourth quarter worth approximately $44,000.
About Silicon Laboratories
(
Get Free Report)
Silicon Laboratories (NASDAQ:SLAB) is a global semiconductor company that develops high-performance analog and mixed-signal integrated circuits, wireless system-on-chips (SoCs), microcontrollers, and radio frequency (RF) solutions. Its product portfolio is tailored to support the Internet of Things (IoT), infrastructure, industrial automation, consumer electronics, automotive, and energy markets. By combining silicon, software, and tools, Silicon Labs aims to accelerate development cycles and deliver low-power, highly integrated solutions that address demanding application requirements.
Founded in 1996 and headquartered in Austin, Texas, Silicon Labs has grown into a multinational organization with engineering and sales operations across North America, Europe, and Asia.
Further Reading
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