Silicon Laboratories Inc. (NASDAQ:SLAB) SVP Sells $528,604.80 in Stock

Silicon Laboratories Inc. (NASDAQ:SLAB) SVP Robert J. Conrad sold 4,029 shares of the firm’s stock in a transaction on Friday, May 16th. The stock was sold at an average price of $131.20, for a total transaction of $528,604.80. Following the completion of the sale, the senior vice president now owns 25,380 shares of the company’s stock, valued at $3,329,856. This trade represents a 13.70% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

Silicon Laboratories Price Performance

SLAB opened at $128.50 on Wednesday. The stock has a market capitalization of $4.19 billion, a PE ratio of -21.63 and a beta of 1.36. The firm’s fifty day moving average price is $109.00 and its 200 day moving average price is $121.41. Silicon Laboratories Inc. has a 12-month low of $82.82 and a 12-month high of $160.00.

Silicon Laboratories (NASDAQ:SLAB) last posted its quarterly earnings results on Tuesday, May 13th. The semiconductor company reported ($0.08) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.09) by $0.01. The firm had revenue of $177.71 million for the quarter, compared to analysts’ expectations of $177.48 million. Silicon Laboratories had a negative net margin of 32.69% and a negative return on equity of 10.46%. The firm’s quarterly revenue was up 67.0% on a year-over-year basis. During the same period in the prior year, the company posted ($0.92) earnings per share. On average, equities research analysts forecast that Silicon Laboratories Inc. will post -0.97 earnings per share for the current fiscal year.

Institutional Trading of Silicon Laboratories

A number of large investors have recently modified their holdings of SLAB. Capital Research Global Investors increased its holdings in shares of Silicon Laboratories by 23.3% in the 4th quarter. Capital Research Global Investors now owns 2,131,920 shares of the semiconductor company’s stock worth $264,827,000 after acquiring an additional 403,010 shares during the period. Westfield Capital Management Co. LP acquired a new stake in shares of Silicon Laboratories in the 1st quarter worth about $37,249,000. Nuveen LLC acquired a new stake in shares of Silicon Laboratories in the 1st quarter worth about $32,338,000. Adage Capital Partners GP L.L.C. increased its holdings in shares of Silicon Laboratories by 116.7% in the 1st quarter. Adage Capital Partners GP L.L.C. now owns 525,022 shares of the semiconductor company’s stock worth $59,102,000 after acquiring an additional 282,785 shares during the period. Finally, Norges Bank acquired a new stake in shares of Silicon Laboratories in the 4th quarter worth about $34,622,000.

Analysts Set New Price Targets

Several brokerages recently commented on SLAB. Benchmark reiterated a “buy” rating and issued a $160.00 price objective on shares of Silicon Laboratories in a research note on Wednesday, May 14th. Stifel Nicolaus reduced their price objective on shares of Silicon Laboratories from $145.00 to $120.00 and set a “buy” rating for the company in a research note on Thursday, April 17th. Barclays reduced their price objective on shares of Silicon Laboratories from $120.00 to $80.00 and set an “equal weight” rating for the company in a research note on Tuesday, April 22nd. Susquehanna raised their price objective on shares of Silicon Laboratories from $100.00 to $110.00 and gave the company a “neutral” rating in a research note on Wednesday, May 14th. Finally, StockNews.com upgraded shares of Silicon Laboratories from a “sell” rating to a “hold” rating in a research note on Wednesday, May 14th. Four equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, Silicon Laboratories currently has an average rating of “Moderate Buy” and a consensus target price of $126.50.

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.