Silicon Laboratories Inc. (NASDAQ:SLAB – Get Rating)’s share price gapped down prior to trading on Wednesday following insider selling activity. The stock had previously closed at $156.06, but opened at $149.89. Silicon Laboratories shares last traded at $145.21, with a volume of 336,232 shares traded.
Specifically, Director Nina Richardson sold 912 shares of the business’s stock in a transaction dated Friday, January 27th. The stock was sold at an average price of $160.00, for a total value of $145,920.00. Following the transaction, the director now owns 5,908 shares in the company, valued at $945,280. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other news, Director Christy Wyatt sold 674 shares of the stock in a transaction on Friday, April 21st. The stock was sold at an average price of $166.38, for a total value of $112,140.12. Following the completion of the transaction, the director now owns 5,720 shares of the company’s stock, valued at $951,693.60. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Nina Richardson sold 912 shares of the firm’s stock in a transaction that occurred on Friday, January 27th. The shares were sold at an average price of $160.00, for a total transaction of $145,920.00. Following the transaction, the director now owns 5,908 shares in the company, valued at approximately $945,280. The disclosure for this sale can be found here. 1.96% of the stock is currently owned by insiders.
Wall Street Analyst Weigh In
SLAB has been the subject of several research analyst reports. KeyCorp upped their price target on shares of Silicon Laboratories from $160.00 to $210.00 and gave the company an “overweight” rating in a research report on Thursday, February 2nd. Summit Insights raised Silicon Laboratories from a “hold” rating to a “buy” rating in a report on Wednesday, February 1st. Morgan Stanley increased their price objective on Silicon Laboratories from $151.00 to $207.00 and gave the company an “equal weight” rating in a research report on Thursday, February 2nd. Wells Fargo & Company boosted their price objective on Silicon Laboratories from $155.00 to $190.00 and gave the company an “overweight” rating in a research report on Thursday, February 2nd. Finally, StockNews.com assumed coverage on Silicon Laboratories in a research report on Thursday, March 16th. They set a “hold” rating on the stock. One investment analyst has rated the stock with a sell rating, four have given a hold rating and five have issued a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $179.78.
Silicon Laboratories Price Performance
Silicon Laboratories (NASDAQ:SLAB – Get Rating) last issued its quarterly earnings results on Wednesday, February 1st. The semiconductor company reported $0.92 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.64 by $0.28. The firm had revenue of $257.33 million during the quarter, compared to analyst estimates of $250.32 million. Silicon Laboratories had a return on equity of 7.44% and a net margin of 8.93%. On average, research analysts forecast that Silicon Laboratories Inc. will post 3.33 earnings per share for the current fiscal year.
Institutional Inflows and Outflows
Several institutional investors have recently bought and sold shares of SLAB. Inspire Investing LLC raised its stake in Silicon Laboratories by 4.4% during the fourth quarter. Inspire Investing LLC now owns 1,744 shares of the semiconductor company’s stock valued at $237,000 after buying an additional 74 shares in the last quarter. State Board of Administration of Florida Retirement System increased its position in Silicon Laboratories by 0.9% in the 4th quarter. State Board of Administration of Florida Retirement System now owns 9,937 shares of the semiconductor company’s stock worth $1,348,000 after purchasing an additional 90 shares during the last quarter. Harbor Investment Advisory LLC increased its position in Silicon Laboratories by 23.9% during the fourth quarter. Harbor Investment Advisory LLC now owns 514 shares of the semiconductor company’s stock worth $70,000 after buying an additional 99 shares during the last quarter. Invst LLC boosted its holdings in shares of Silicon Laboratories by 3.5% during the 4th quarter. Invst LLC now owns 3,765 shares of the semiconductor company’s stock worth $591,000 after buying an additional 127 shares during the period. Finally, AQR Capital Management LLC lifted its position in shares of Silicon Laboratories by 3.6% during the 4th quarter. AQR Capital Management LLC now owns 4,338 shares of the semiconductor company’s stock worth $583,000 after purchasing an additional 149 shares during the last quarter. 99.56% of the stock is currently owned by hedge funds and other institutional investors.
About Silicon Laboratories
Silicon Laboratories, Inc engages in providing and developing analog-intensive and mixed-signal integrated circuits. It operates through the United States, China, and Rest of World geographical segments. The company was founded by Navdeep S. Sooch, David R. Welland, and Jeffrey W. Scott in August 1996 and is headquartered in Austin, TX.
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