Silicon Laboratories (NASDAQ:SLAB) Trading Down 6.6% – Here’s Why

Silicon Laboratories Inc. (NASDAQ:SLAB)’s stock price traded down 6.6% on Tuesday . The company traded as low as $126.57 and last traded at $124.95. 41,953 shares traded hands during mid-day trading, a decline of 88% from the average session volume of 362,879 shares. The stock had previously closed at $133.81.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on SLAB. KeyCorp raised 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, January 22nd. StockNews.com cut Silicon Laboratories from a “hold” rating to a “sell” rating in a report on Friday, February 28th. Stifel Nicolaus lifted their price objective on Silicon Laboratories from $135.00 to $145.00 and gave the stock a “buy” rating in a report on Monday, January 6th. Barclays increased their target price on Silicon Laboratories from $75.00 to $120.00 and gave the company an “equal weight” rating in a report on Friday, January 17th. Finally, Susquehanna assumed coverage on Silicon Laboratories in a research note on Tuesday, December 17th. They set a “neutral” rating and a $130.00 price target for the company. One research analyst has rated the stock with a sell rating, five have given a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $136.20.

Silicon Laboratories Stock Performance

The company’s 50-day moving average price is $138.72 and its 200 day moving average price is $122.73. The stock has a market capitalization of $4.11 billion, a P/E ratio of -21.31 and a beta of 1.15.

Silicon Laboratories (NASDAQ:SLAB) last posted its quarterly earnings results on Tuesday, February 4th. The semiconductor company reported ($0.11) EPS for the quarter, meeting analysts’ consensus estimates of ($0.11). Silicon Laboratories had a negative return on equity of 10.46% and a negative net margin of 32.69%. The business had revenue of $166.25 million for the quarter, compared to analysts’ expectations of $166.09 million. During the same period last year, the firm earned ($1.19) earnings per share. The business’s quarterly revenue was up 91.4% on a year-over-year basis. Analysts predict that Silicon Laboratories Inc. will post -0.97 earnings per share for the current year.

Insider Activity

In related news, Director William G. Bock sold 2,000 shares of the company’s stock in a transaction on Wednesday, January 22nd. The shares were sold at an average price of $140.77, for a total transaction of $281,540.00. Following the sale, the director now owns 32,115 shares of the company’s stock, valued at $4,520,828.55. This represents a 5.86 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Navdeep S. Sooch sold 2,360 shares of the stock in a transaction 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 transaction, the director now 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 disclosure for this sale can be found here. Insiders sold a total of 5,360 shares of company stock worth $782,610 over the last 90 days. Corporate insiders own 1.72% of the company’s stock.

Institutional Trading of Silicon Laboratories

Hedge funds have recently made changes to their positions in the business. Franklin Resources Inc. raised its position in Silicon Laboratories by 1.9% during the third quarter. Franklin Resources Inc. now owns 231,889 shares of the semiconductor company’s stock valued at $27,001,000 after purchasing an additional 4,278 shares during the period. Point72 Asset Management L.P. purchased a new stake in Silicon Laboratories during the 3rd quarter valued at $7,408,000. Intech Investment Management LLC lifted its position in Silicon Laboratories by 82.9% in the third quarter. Intech Investment Management LLC now owns 12,837 shares of the semiconductor company’s stock worth $1,484,000 after buying an additional 5,818 shares during the last quarter. Barclays PLC boosted its stake in Silicon Laboratories by 23.4% during the third quarter. Barclays PLC now owns 70,568 shares of the semiconductor company’s stock worth $8,157,000 after buying an additional 13,363 shares during the period. Finally, Premier Fund Managers Ltd bought a new position in Silicon Laboratories during the 3rd quarter valued at about $934,000.

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.