Silicon Laboratories Inc. (NASDAQ:SLAB) SVP Robert J. Conrad Sells 4,029 Shares

Silicon Laboratories Inc. (NASDAQ:SLAB) SVP Robert J. Conrad sold 4,029 shares of the stock in a transaction on Friday, May 16th. The shares were sold at an average price of $131.20, for a total value of $528,604.80. Following the completion of the sale, the senior vice president now owns 25,380 shares of the company’s stock, valued at approximately $3,329,856. This represents a 13.70% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link.

Silicon Laboratories Stock Down 2.4%

Shares of NASDAQ:SLAB traded down $3.09 during midday trading on Monday, reaching $128.07. 189,833 shares of the company were exchanged, compared to its average volume of 335,993. Silicon Laboratories Inc. has a fifty-two week low of $82.82 and a fifty-two week high of $160.00. The stock has a fifty day simple moving average of $108.72 and a two-hundred day simple moving average of $121.21. The firm has a market cap of $4.17 billion, a PE ratio of -21.56 and a beta of 1.36.

Silicon Laboratories (NASDAQ:SLAB) last released its quarterly earnings data on Tuesday, May 13th. The semiconductor company reported ($0.08) earnings per share for the quarter, topping the consensus estimate of ($0.09) by $0.01. Silicon Laboratories had a negative net margin of 32.69% and a negative return on equity of 10.46%. The company had revenue of $177.71 million for the quarter, compared to analyst estimates of $177.48 million. During the same period in the previous year, the business earned ($0.92) EPS. Silicon Laboratories’s revenue for the quarter was up 67.0% compared to the same quarter last year. As a group, analysts forecast that Silicon Laboratories Inc. will post -0.97 earnings per share for the current year.

Hedge Funds Weigh In On Silicon Laboratories

A number of institutional investors have recently added to or reduced their stakes in SLAB. Barclays PLC increased its position in Silicon Laboratories by 23.4% during the 3rd quarter. Barclays PLC now owns 70,568 shares of the semiconductor company’s stock worth $8,157,000 after purchasing an additional 13,363 shares in the last quarter. Park Avenue Securities LLC acquired a new position in Silicon Laboratories in the 4th quarter valued at approximately $268,000. Procyon Advisors LLC increased its position in Silicon Laboratories by 4.4% in the 4th quarter. Procyon Advisors LLC now owns 3,176 shares of the semiconductor company’s stock valued at $395,000 after acquiring an additional 133 shares during the period. Arkadios Wealth Advisors acquired a new position in Silicon Laboratories in the 4th quarter valued at approximately $237,000. Finally, Nisa Investment Advisors LLC increased its position in Silicon Laboratories by 6.2% in the 4th quarter. Nisa Investment Advisors LLC now owns 4,134 shares of the semiconductor company’s stock valued at $514,000 after acquiring an additional 240 shares during the period.

Analysts Set New Price Targets

A number of analysts have weighed in on the stock. Benchmark reissued a “buy” rating and set a $160.00 target price on shares of Silicon Laboratories in a report on Wednesday, May 14th. Needham & Company LLC restated a “buy” rating and issued a $150.00 price target on shares of Silicon Laboratories in a research report on Wednesday, May 14th. Susquehanna lifted their price target on shares of Silicon Laboratories from $100.00 to $110.00 and gave the stock a “neutral” rating in a research report on Wednesday, May 14th. Barclays lowered their price objective on shares of Silicon Laboratories from $120.00 to $80.00 and set an “equal weight” rating on the stock in a research report on Tuesday, April 22nd. Finally, Stifel Nicolaus decreased their target price on shares of Silicon Laboratories from $145.00 to $120.00 and set a “buy” rating for the company in a research note on Thursday, April 17th. Four research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $126.50.

About Silicon Laboratories

Silicon Laboratories Inc, a fabless semiconductor company, provides various analog-intensive mixed-signal solutions in the United States, China, Taiwan, and internationally. The company's products include wireless microcontrollers and sensor products. Its products are used in various electronic products in a range of applications for the industrial Internet of Things (IoT), including industrial automation and control, smart buildings, access control, HVAC control, and industrial wearables and power tools; smart cities applications, such as smart metering, smart street lighting, renewable energy, electric vehicle supply equipment, and smart agriculture; commercial IoT applications, including smart lighting, asset tracking, electronic shelf labels, theft protection, and enterprise access points; smart home applications, comprising home automation/security systems, smart speakers, smart lighting, HVAC control, smart cameras, smart appliances, smart home sensing, smart locks, and window/blind controls; and connected health applications, including diabetes management, consumer health and fitness, elderly care, patient monitoring, and activity tracking; as well as in commercial building automation, consumer electronics, and medical instrumentation.