Silicon Laboratories (NASDAQ:SLAB) Sets New 1-Year High – Here’s Why

Silicon Laboratories, Inc. (NASDAQ:SLAB) reached a new 52-week high on Monday . The stock traded as high as $221.00 and last traded at $219.3930, with a volume of 471 shares changing hands. The stock had previously closed at $219.51.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Silicon Laboratories in a research note on Friday, March 27th. One analyst has rated the stock with a Buy rating, eight have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $171.43.

Silicon Laboratories Stock Up 0.2%

The stock has a fifty day simple moving average of $215.67 and a 200 day simple moving average of $185.13. The firm has a market capitalization of $7.26 billion, a P/E ratio of -143.82 and a beta of 1.37.

Silicon Laboratories (NASDAQ:SLAB) last released its quarterly earnings data on Tuesday, May 5th. The semiconductor company reported $0.53 earnings per share for the quarter, topping analysts’ consensus estimates of $0.49 by $0.04. Silicon Laboratories had a negative return on equity of 2.18% and a negative net margin of 6.13%.The firm had revenue of $213.50 million during the quarter, compared to analyst estimates of $214.02 million. During the same quarter in the prior year, the company posted ($0.08) earnings per share. The business’s quarterly revenue was up 20.1% compared to the same quarter last year. Research analysts anticipate that Silicon Laboratories, Inc. will post 0.74 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Silicon Laboratories news, CEO Robert Matthew Johnson sold 8,024 shares of the company’s stock in a transaction that occurred on 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 completion of the transaction, the chief executive officer directly owned 80,519 shares in the company, valued at $17,458,934.77. This represents a 9.06% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Corporate insiders own 1.60% of the company’s stock.

Institutional Investors Weigh In On Silicon Laboratories

Several institutional investors and hedge funds have recently modified their holdings of SLAB. Norges Bank purchased a new position in shares of Silicon Laboratories in the fourth quarter worth $56,008,000. Thrivent Financial for Lutherans grew its stake in Silicon Laboratories by 312.9% during the fourth quarter. Thrivent Financial for Lutherans now owns 467,958 shares of the semiconductor company’s stock valued at $61,162,000 after acquiring an additional 354,621 shares in the last quarter. AQR Capital Management LLC increased its holdings in Silicon Laboratories by 1,970.7% in the 2nd quarter. AQR Capital Management LLC now owns 370,492 shares of the semiconductor company’s stock valued at $54,516,000 after acquiring an additional 352,600 shares during the last quarter. Westfield Capital Management Co. LP bought a new stake in Silicon Laboratories in the 3rd quarter valued at $44,887,000. Finally, Hsbc Holdings PLC lifted its stake in Silicon Laboratories by 1,752.1% in the 1st quarter. Hsbc Holdings PLC now owns 214,071 shares of the semiconductor company’s stock worth $44,358,000 after purchasing an additional 202,513 shares in the last quarter.

Silicon Laboratories Company Profile

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.