Insider Selling: Silicon Laboratories Director Sells 8,216 Shares of Stock (SLAB)
Silicon Laboratories (NASDAQ:SLAB) Director Navdeep S. Sooch unloaded 8,216 shares of Silicon Laboratories stock on the open market in a transaction dated Tuesday, September 2nd. The stock was sold at an average price of $45.13, for a total transaction of $370,788.08. Following the completion of the transaction, the director now directly owns 737,111 shares in the company, valued at approximately $33,265,819. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.
Shares of Silicon Laboratories (NASDAQ:SLAB) traded down 2.10% during mid-day trading on Wednesday, hitting $43.68. The stock had a trading volume of 376,067 shares. Silicon Laboratories has a one year low of $37.57 and a one year high of $54.00. The stock’s 50-day moving average is $43.71 and its 200-day moving average is $47.5. The company has a market cap of $1.897 billion and a price-to-earnings ratio of 49.96.
Silicon Laboratories (NASDAQ:SLAB) last released its earnings data on Friday, July 25th. The company reported $0.58 EPS for the quarter, beating the Thomson Reuters 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 prior year, the company posted $0.50 earnings per share. The company’s quarterly revenue 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.
A number of analysts have recently weighed in on SLAB shares. 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 equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Silicon Laboratories presently has a consensus rating of “Buy” and a consensus target price of $50.25.
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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