Insider Selling: Silicon Laboratories, Inc. (SLAB) Director Sells 5,000 Shares of Stock
Silicon Laboratories, Inc. (NASDAQ:SLAB) Director William P. Wood sold 5,000 shares of the business’s stock in a transaction on Tuesday, October 3rd. The shares were sold at an average price of $81.45, for a total transaction of $407,250.00. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink.
Shares of Silicon Laboratories, Inc. (NASDAQ SLAB) traded up 0.18% on Wednesday, hitting $82.95. The stock had a trading volume of 159,390 shares. The firm’s 50-day moving average is $76.75 and its 200-day moving average is $73.44. Silicon Laboratories, Inc. has a one year low of $55.97 and a one year high of $83.10. The company has a market cap of $3.53 billion, a price-to-earnings ratio of 49.46 and a beta of 1.28.
Silicon Laboratories (NASDAQ:SLAB) last announced its quarterly earnings data on Wednesday, July 26th. The semiconductor company reported $0.79 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.71 by $0.08. Silicon Laboratories had a return on equity of 11.15% and a net margin of 9.88%. The company had revenue of $190.10 million for the quarter, compared to analyst estimates of $186.46 million. During the same quarter in the previous year, the company earned $0.75 EPS. The firm’s revenue for the quarter was up 8.7% compared to the same quarter last year. On average, analysts expect that Silicon Laboratories, Inc. will post $3.06 EPS for the current fiscal year.
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SLAB has been the subject of a number of research reports. Zacks Investment Research raised Silicon Laboratories from a “hold” rating to a “buy” rating and set a $82.00 target price for the company in a report on Saturday, August 26th. BidaskClub upgraded shares of Silicon Laboratories from a “hold” rating to a “buy” rating in a report on Wednesday, August 16th. Needham & Company LLC reissued a “buy” rating and set a $85.00 price target (up from $80.00) on shares of Silicon Laboratories in a research report on Thursday, July 27th. Finally, Stifel Nicolaus restated a “buy” rating and set a $82.00 price objective on shares of Silicon Laboratories in a research note on Tuesday, June 6th. Two analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus target price of $82.44.
A number of hedge funds have recently made changes to their positions in the stock. BlackRock Inc. lifted its holdings in Silicon Laboratories by 25,072.0% in the first quarter. BlackRock Inc. now owns 4,558,402 shares of the semiconductor company’s stock valued at $335,271,000 after acquiring an additional 4,540,293 shares during the period. Wellington Management Group LLP boosted its position in shares of Silicon Laboratories by 710.8% during the 1st quarter. Wellington Management Group LLP now owns 722,636 shares of the semiconductor company’s stock worth $53,150,000 after purchasing an additional 633,507 shares in the last quarter. Bank of New York Mellon Corp boosted its position in shares of Silicon Laboratories by 62.3% during the 2nd quarter. Bank of New York Mellon Corp now owns 841,592 shares of the semiconductor company’s stock worth $57,523,000 after purchasing an additional 323,123 shares in the last quarter. Vanguard Group Inc. boosted its position in shares of Silicon Laboratories by 5.1% during the 1st quarter. Vanguard Group Inc. now owns 3,292,023 shares of the semiconductor company’s stock worth $242,129,000 after purchasing an additional 160,997 shares in the last quarter. Finally, GW&K Investment Management LLC increased its holdings in shares of Silicon Laboratories by 34.2% in the 2nd quarter. GW&K Investment Management LLC now owns 484,826 shares of the semiconductor company’s stock valued at $33,138,000 after purchasing an additional 123,637 shares in the last quarter. 88.99% of the stock is currently owned by hedge funds and other institutional investors.
Silicon Laboratories Company Profile
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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