Insider Selling: Jonathan D. Ivester Sells 2,000 Shares of Silicon Laboratories Stock (SLAB)
Silicon Laboratories (NASDAQ:SLAB) SVP Jonathan D. Ivester sold 2,000 shares of the company’s stock on the open market in a transaction that occurred on Tuesday, August 19th. The shares were sold at an average price of $43.20, for a total value of $86,400.00. Following the transaction, the senior vice president now directly owns 89,987 shares in the company, valued at approximately $3,887,438. The sale 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 Canaccord Genuity initiated coverage on shares of Silicon Laboratories in a research note on Friday, August 8th. They set a “buy” rating and a $50.00 price target on the stock. Separately, analysts at Citigroup Inc. reiterated a “buy” rating on shares of Silicon Laboratories in a research note on Monday, July 28th. They now have a $49.00 price target on the stock, down previously from $55.00. Finally, analysts at B. Riley cut their price target on shares of Silicon Laboratories from $53.00 to $49.00 in a research note on Monday, July 28th. Three analysts have rated the stock with a hold rating and six have issued a buy rating to the company. The company presently has an average rating of “Buy” and an average target price of $50.25.
Silicon Laboratories (NASDAQ:SLAB) traded down 0.02% during mid-day trading on Thursday, hitting $43.26. 32,500 shares of the company’s stock traded hands. Silicon Laboratories has a 52-week low of $37.57 and a 52-week high of $54.00. The stock’s 50-day moving average is $44.68 and its 200-day moving average is $47.72. The company has a market cap of $1.878 billion and a P/E ratio of 48.45.
Silicon Laboratories (NASDAQ:SLAB) last released its earnings data on Friday, July 25th. The company reported $0.58 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.46 by $0.12. The company had revenue of $154.90 million for the quarter, compared to the consensus estimate of $149.02 million. During the same quarter in the previous year, the company posted $0.50 earnings per share. The company’s revenue for the quarter was up 9.5% on a year-over-year basis. Analysts expect that Silicon Laboratories will post $1.92 EPS 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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