Insider Selling: Harvey B. Cash Sells 71,976 Shares of Silicon Laboratories Stock (SLAB)
Silicon Laboratories (NASDAQ:SLAB) Director Harvey B. Cash sold 71,976 shares of Silicon Laboratories stock on the open market in a transaction dated Thursday, February 20th. The stock was sold at an average price of $48.97, for a total transaction of $3,524,664.72. Following the sale, the director now directly owns 83,509 shares of the company’s stock, valued at approximately $4,089,436. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.
Shares of Silicon Laboratories (NASDAQ:SLAB) traded up 1.84% on Monday, hitting $50.94. 1,114,611 shares of the company’s stock traded hands. Silicon Laboratories has a one year low of $37.57 and a one year high of $51.44. The stock’s 50-day moving average is $45.73 and its 200-day moving average is $42.02. The company has a market cap of $2.182 billion and a P/E ratio of 43.88.
Silicon Laboratories (NASDAQ:SLAB) last posted its quarterly earnings results on Wednesday, January 29th. The company reported $0.49 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.43 by $0.06. The company had revenue of $146.20 million for the quarter, compared to the consensus estimate of $142.98 million. During the same quarter last year, the company posted $0.61 earnings per share. Silicon Laboratories’s revenue was down 4.1% compared to the same quarter last year. On average, analysts predict that Silicon Laboratories will post $2.09 earnings per share for the current fiscal year.
SLAB has been the subject of a number of recent research reports. Analysts at Stifel Nicolaus raised their price target on shares of Silicon Laboratories from $54.00 to $56.00 in a research note on Thursday. Separately, analysts at TheStreet upgraded shares of Silicon Laboratories from a “hold” rating to a “buy” rating in a research note on Friday, January 31st. Finally, analysts at Citigroup Inc. raised their price target on shares of Silicon Laboratories from $47.00 to $56.00 in a research note on Friday, January 31st. Three analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Silicon Laboratories has a consensus rating of “Buy” and a consensus target price of $50.44.
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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