Insider Selling: Silicon Laboratories, Inc. (SLAB) CEO Sells 7,693 Shares of Stock
Silicon Laboratories, Inc. (NASDAQ:SLAB) CEO George Tyson Tuttle sold 7,693 shares of the firm’s stock in a transaction that occurred on Wednesday, September 20th. The shares were sold at an average price of $80.01, for a total value of $615,516.93. Following the completion of the sale, the chief executive officer now directly owns 199,543 shares in the company, valued at approximately $15,965,435.43. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.
George Tyson Tuttle also recently made the following trade(s):
- On Monday, September 18th, George Tyson Tuttle sold 3,713 shares of Silicon Laboratories stock. The shares were sold at an average price of $80.00, for a total value of $297,040.00.
Shares of Silicon Laboratories, Inc. (NASDAQ SLAB) traded up 0.19% during mid-day trading on Thursday, hitting $80.05. The stock had a trading volume of 106,576 shares. Silicon Laboratories, Inc. has a 52 week low of $55.04 and a 52 week high of $80.20. The stock has a 50 day moving average of $75.48 and a 200-day moving average of $72.76. The stock has a market capitalization of $3.41 billion, a P/E ratio of 47.73 and a beta of 1.25.
Silicon Laboratories (NASDAQ:SLAB) last announced its earnings results on Wednesday, July 26th. The semiconductor company reported $0.79 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.71 by $0.08. The company had revenue of $190.10 million for the quarter, compared to analyst estimates of $186.46 million. Silicon Laboratories had a return on equity of 11.15% and a net margin of 9.88%. The firm’s quarterly revenue was up 8.7% compared to the same quarter last year. During the same quarter last year, the company earned $0.75 earnings per share. On average, equities research analysts predict that Silicon Laboratories, Inc. will post $3.06 earnings per share for the current year.
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A number of analysts have issued reports on SLAB shares. BidaskClub lowered Silicon Laboratories from a “strong-buy” rating to a “buy” rating in a report on Friday, June 16th. Zacks Investment Research lowered Silicon Laboratories from a “buy” rating to a “hold” rating in a report on Tuesday. Needham & Company LLC reaffirmed a “buy” rating and issued a $85.00 target price (up previously from $80.00) on shares of Silicon Laboratories in a report on Thursday, July 27th. B. Riley reaffirmed a “buy” rating and issued a $90.00 target price on shares of Silicon Laboratories in a report on Friday, July 28th. Finally, Stifel Nicolaus reaffirmed a “buy” rating and issued a $82.00 target price on shares of Silicon Laboratories in a report on Tuesday, June 6th. One analyst has rated the stock with a hold rating and ten have assigned a buy rating to the stock. Silicon Laboratories currently has an average rating of “Buy” and an average price target of $80.70.
Hedge funds and other institutional investors have recently made changes to their positions in the company. Quantbot Technologies LP bought a new position in shares of Silicon Laboratories during the second quarter worth approximately $102,000. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of Silicon Laboratories by 10.0% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,623 shares of the semiconductor company’s stock worth $111,000 after purchasing an additional 148 shares during the period. Riverhead Capital Management LLC increased its stake in shares of Silicon Laboratories by 76.7% during the second quarter. Riverhead Capital Management LLC now owns 2,297 shares of the semiconductor company’s stock worth $157,000 after purchasing an additional 997 shares during the period. Pier 88 Investment Partners LLC bought a new position in shares of Silicon Laboratories during the second quarter worth approximately $187,000. Finally, BT Investment Management Ltd bought a new position in shares of Silicon Laboratories during the second quarter worth approximately $202,000. Institutional investors own 88.98% of the company’s stock.
About Silicon Laboratories
Silicon Laboratories Inc is a provider of silicon, software and solutions for the Internet of Things (IoT), Internet infrastructure, industrial, consumer and automotive markets. The Company operates through mixed-signal analog intensive products segment. It provides analog-intensive, mixed-signal solutions for use in a range of electronic products in various applications for the IoT market.
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