Silicon Laboratories Inc. (NASDAQ:SLAB) Director Navdeep S. Sooch sold 50,000 shares of Silicon Laboratories stock in a transaction dated Friday, September 30th. The shares were sold at an average price of $59.05, for a total value of $2,952,500.00. Following the completion of the sale, the director now directly owns 524,756 shares in the company, valued at approximately $30,986,841.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.
Shares of Silicon Laboratories Inc. (NASDAQ:SLAB) opened at 58.65 on Tuesday. Silicon Laboratories Inc. has a one year low of $36.56 and a one year high of $59.35. The company has a market cap of $2.44 billion, a PE ratio of 66.65 and a beta of 1.42. The stock’s 50 day moving average price is $56.21 and its 200-day moving average price is $50.26.
Silicon Laboratories (NASDAQ:SLAB) last released its quarterly earnings data on Wednesday, July 27th. The company reported $0.75 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.64 by $0.11. The company had revenue of $174.90 million for the quarter, compared to analysts’ expectations of $170.52 million. Silicon Laboratories had a net margin of 5.66% and a return on equity of 8.71%. The business’s revenue was up 6.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.56 EPS. On average, analysts expect that Silicon Laboratories Inc. will post $2.53 EPS for the current year.
SLAB has been the topic of a number of recent research reports. Zacks Investment Research downgraded Silicon Laboratories from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, September 28th. Canaccord Genuity reaffirmed a “buy” rating and issued a $65.00 target price on shares of Silicon Laboratories in a research report on Wednesday, July 27th. Roth Capital assumed coverage on Silicon Laboratories in a research report on Wednesday, September 28th. They set a “buy” rating and a $65.00 price target on the stock. Drexel Hamilton reissued a “buy” rating and set a $52.00 price target on shares of Silicon Laboratories in a research report on Thursday, July 28th. Finally, Stifel Nicolaus reissued a “buy” rating and set a $67.00 price target (up previously from $65.00) on shares of Silicon Laboratories in a research report on Friday, August 26th. Six investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus target price of $57.91.
Several institutional investors have recently added to or reduced their stakes in SLAB. Hermes Investment Management Ltd. boosted its position in Silicon Laboratories by 18.2% in the second quarter. Hermes Investment Management Ltd. now owns 909,087 shares of the company’s stock worth $44,309,000 after buying an additional 140,260 shares during the period. LS Investment Advisors LLC boosted its position in Silicon Laboratories by 74.3% in the second quarter. LS Investment Advisors LLC now owns 2,336 shares of the company’s stock worth $114,000 after buying an additional 996 shares during the period. BNP Paribas Arbitrage SA boosted its position in Silicon Laboratories by 2,034.3% in the second quarter. BNP Paribas Arbitrage SA now owns 18,291 shares of the company’s stock worth $892,000 after buying an additional 17,434 shares during the period. Boothbay Fund Management LLC bought a new position in Silicon Laboratories during the first quarter worth about $298,000. Finally, Metropolitan Life Insurance Co. NY boosted its position in Silicon Laboratories by 4.7% in the first quarter. Metropolitan Life Insurance Co. NY now owns 65,313 shares of the company’s stock worth $2,936,000 after buying an additional 2,930 shares during the period. 87.46% of the stock is currently owned by institutional investors.
Silicon Laboratories Company Profile
Silicon Laboratories Inc is a provider of silicon, software and solutions for the Internet of things (IoT), Internet infrastructure, industrial control, consumer and automotive markets. The Company provides customers with advantages in performance, energy savings, connectivity and design simplicity. It provides developers with the tools and technologies they need to advance from initial idea to final product.
Receive News & Ratings for Silicon Laboratories Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Silicon Laboratories Inc. and related companies with MarketBeat.com's FREE daily email newsletter.