Silicon Laboratories, Inc. (NASDAQ:SLAB) Short Interest Update

Silicon Laboratories, Inc. (NASDAQ:SLAB) was the target of a significant decline in short interest in March. As of March 13th, there was short interest totaling 1,301,074 shares, a decline of 22.0% from the February 26th total of 1,668,917 shares. Based on an average trading volume of 760,600 shares, the days-to-cover ratio is presently 1.7 days. Currently, 4.0% of the company’s stock are sold short.

Silicon Laboratories Price Performance

Shares of SLAB opened at $205.93 on Friday. The business’s fifty day moving average price is $190.58 and its 200 day moving average price is $153.43. Silicon Laboratories has a 12-month low of $82.82 and a 12-month high of $208.84. The stock has a market capitalization of $6.79 billion, a PE ratio of -103.48 and a beta of 1.46.

Silicon Laboratories (NASDAQ:SLAB) last released its earnings results on Wednesday, February 4th. The semiconductor company reported $0.56 earnings per share for the quarter, beating the consensus estimate of $0.54 by $0.02. The firm had revenue of $208.21 million during the quarter, compared to analyst estimates of $207.63 million. Silicon Laboratories had a negative net margin of 8.27% and a negative return on equity of 4.07%. The firm’s revenue for the quarter was up 25.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.11) earnings per share. As a group, research analysts anticipate that Silicon Laboratories will post -0.97 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director Nina Richardson sold 1,355 shares of the stock in a transaction dated Tuesday, January 13th. The stock was sold at an average price of $149.00, for a total value of $201,895.00. Following the completion of the transaction, the director owned 8,543 shares of the company’s stock, valued at approximately $1,272,907. This represents a 13.69% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Corporate insiders own 1.60% of the company’s stock.

Institutional Investors Weigh In On Silicon Laboratories

Institutional investors have recently modified their holdings of the business. Vident Advisory LLC raised its stake in Silicon Laboratories by 2.5% during the fourth quarter. Vident Advisory LLC now owns 3,018 shares of the semiconductor company’s stock worth $394,000 after acquiring an additional 74 shares during the period. UMB Bank n.a. boosted its stake in Silicon Laboratories by 43.9% in the third quarter. UMB Bank n.a. now owns 282 shares of the semiconductor company’s stock valued at $37,000 after acquiring an additional 86 shares during the period. EverSource Wealth Advisors LLC grew its holdings in shares of Silicon Laboratories by 45.7% during the third quarter. EverSource Wealth Advisors LLC now owns 274 shares of the semiconductor company’s stock valued at $36,000 after purchasing an additional 86 shares during the last quarter. Bank of Montreal Can grew its holdings in shares of Silicon Laboratories by 2.9% during the fourth quarter. Bank of Montreal Can now owns 3,355 shares of the semiconductor company’s stock valued at $438,000 after purchasing an additional 96 shares during the last quarter. Finally, Inspire Investing LLC raised its position in shares of Silicon Laboratories by 3.1% during the 4th quarter. Inspire Investing LLC now owns 3,585 shares of the semiconductor company’s stock worth $469,000 after purchasing an additional 109 shares during the period.

Analyst Ratings Changes

Several research firms have recently commented on SLAB. Royal Bank Of Canada increased their target price on Silicon Laboratories from $160.00 to $205.00 and gave the company a “sector perform” rating in a research note on Thursday, February 5th. Benchmark downgraded shares of Silicon Laboratories from a “buy” rating to a “hold” rating in a research note on Wednesday, February 4th. Weiss Ratings reissued a “sell (d-)” rating on shares of Silicon Laboratories in a report on Monday, December 29th. Needham & Company LLC lowered shares of Silicon Laboratories from a “buy” rating to a “hold” rating in a research note on Wednesday, February 4th. Finally, Citigroup increased their price target on shares of Silicon Laboratories from $135.00 to $231.00 and gave the stock a “neutral” rating in a research report on Friday, February 6th. One research analyst has rated the stock with a Buy rating, eight have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $167.78.

About Silicon Laboratories

Silicon Laboratories (NASDAQ:SLAB) is a global semiconductor company that develops high-performance analog and mixed-signal integrated circuits, wireless system-on-chips (SoCs), microcontrollers, and radio frequency (RF) solutions. Its product portfolio is tailored to support the Internet of Things (IoT), infrastructure, industrial automation, consumer electronics, automotive, and energy markets. By combining silicon, software, and tools, Silicon Labs aims to accelerate development cycles and deliver low-power, highly integrated solutions that address demanding application requirements.

Founded in 1996 and headquartered in Austin, Texas, Silicon Labs has grown into a multinational organization with engineering and sales operations across North America, Europe, and Asia.