Silicon Laboratories Director Sells $1,411,550 in Stock (SLAB)
Silicon Laboratories (NASDAQ:SLAB) Director Navdeep Sooch unloaded 35,000 shares of the stock in a transaction that occurred on Monday, September 9th. The shares were sold at an average price of $40.33, for a total value of $1,411,550.00. Following the completion of the transaction, the director now directly owns 800,840 shares of the company’s stock. The transaction was disclosed in a document filed with the SEC, which is available at this link.
SLAB has been the subject of a number of recent research reports. Analysts at TheStreet downgraded shares of Silicon Laboratories (NASDAQ:SLAB) from a “buy” rating to a “hold” rating in a research note to investors on Friday, August 23rd. Separately, analysts at Zacks downgraded shares of Silicon Laboratories (NASDAQ:SLAB) from a “neutral” rating to an “underperform” rating in a research note to investors on Wednesday, July 31st. They now have a $37.30 price target on the stock. Finally, analysts at Needham & Company cut their price target on shares of Silicon Laboratories (NASDAQ:SLAB) from $48.00 to $47.00 in a research note to investors on Friday, July 26th. They now have a “buy” rating on the stock.
One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and eight have issued a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus price target of $45.92.
Silicon Laboratories (NASDAQ:SLAB) traded up 1.54% during mid-day trading on Tuesday, hitting $40.89. The stock had a trading volume of 162,593 shares. Silicon Laboratories has a 1-year low of $35.00 and a 1-year high of $47.41. The stock’s 50-day moving average is $39.92 and its 200-day moving average is $41.28. The company has a market cap of $1.747 billion and a price-to-earnings ratio of 28.18.
Silicon Laboratories (NASDAQ:SLAB) last released its earnings data on Thursday, July 25th. The company reported $0.50 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.50. The company had revenue of $141.50 million for the quarter, compared to the consensus estimate of $143.60 million. During the same quarter in the previous year, the company posted $0.51 earnings per share. The company’s revenue for the quarter was up 4.3% on a year-over-year basis. On average, analysts predict that Silicon Laboratories will post $2.01 earnings per share for the current fiscal year.
Silicon Laboratories Inc designs and develops analog-intensive, mixed-signal and integrated circuits (NASDAQ:SLAB) for a broad range of applications.
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