Silicon Laboratories (NASDAQ:SLAB) Share Price Crosses Above Two Hundred Day Moving Average – Should You Sell?

Silicon Laboratories, Inc. (NASDAQ:SLAB)’s share price crossed above its two hundred day moving average during trading on Tuesday. The stock has a two hundred day moving average of $216.40 and traded as high as $221.58. Silicon Laboratories shares last traded at $221.17, with a volume of 326,238 shares changing hands.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the stock. Weiss Ratings reiterated a “sell (d-)” rating on shares of Silicon Laboratories in a research report on Monday, September 21st. Zacks Research cut shares of Silicon Laboratories from a “hold” rating to a “strong sell” rating in a research note on Tuesday, August 18th. Five research analysts have rated the stock with a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Reduce” and a consensus price target of $218.00.

Silicon Laboratories Price Performance

The firm has a 50-day simple moving average of $219.19 and a 200 day simple moving average of $216.53. The stock has a market capitalization of $7.43 billion, a P/E ratio of -188.57 and a beta of 1.36.

Silicon Laboratories (NASDAQ:SLAB) last released its quarterly earnings results on Tuesday, August 11th. The semiconductor company reported $0.71 earnings per share for the quarter, topping the consensus estimate of $0.69 by $0.02. Silicon Laboratories had a negative return on equity of 0.66% and a negative net margin of 4.57%.The company had revenue of $228.19 million for the quarter, compared to analysts’ expectations of $227.99 million. During the same period in the previous year, the business posted $0.11 earnings per share. The business’s quarterly revenue was up 18.3% compared to the same quarter last year. Sell-side analysts anticipate that Silicon Laboratories, Inc. will post 0.52 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Silicon Laboratories

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Cim Investment Management Inc. raised its stake in shares of Silicon Laboratories by 7.5% during the second quarter. Cim Investment Management Inc. now owns 1,151 shares of the semiconductor company’s stock valued at $252,000 after acquiring an additional 80 shares during the last quarter. HBK Investments L P bought a new stake in shares of Silicon Laboratories in the second quarter worth $218,560,000. Sequoia Financial Advisors LLC grew its stake in shares of Silicon Laboratories by 191.3% in the second quarter. Sequoia Financial Advisors LLC now owns 3,539 shares of the semiconductor company’s stock worth $773,000 after purchasing an additional 2,324 shares during the last quarter. Tidal Investments LLC increased its holdings in Silicon Laboratories by 99.1% in the second quarter. Tidal Investments LLC now owns 4,936 shares of the semiconductor company’s stock valued at $1,079,000 after purchasing an additional 2,457 shares during the period. Finally, WINTON GROUP Ltd increased its holdings in Silicon Laboratories by 2.4% in the second quarter. WINTON GROUP Ltd now owns 55,098 shares of the semiconductor company’s stock valued at $12,042,000 after purchasing an additional 1,272 shares during the period.

About Silicon Laboratories

Silicon Laboratories Inc is a fabless semiconductor company focused on wireless connectivity solutions for the Internet of Things (IoT). The company develops technologies that enable connected devices to communicate, sense, and operate efficiently across residential, commercial, industrial, and consumer applications.

Its product portfolio includes wireless system-on-chips, microcontrollers, modules, sensors, development kits, software, and development tools. Silicon Labs supports technologies and protocols such as Bluetooth, Wi-Fi, Zigbee, Thread, Matter, and proprietary sub-GHz wireless communications.