Silicon Laboratories (NASDAQ:SLAB) Trading Down 3.4% – Should You Sell?

Silicon Laboratories Inc. (NASDAQ:SLAB) shares were down 3.4% during mid-day trading on Friday . The company traded as low as $136.71 and last traded at $136.64. Approximately 51,884 shares changed hands during mid-day trading, a decline of 82% from the average daily volume of 289,260 shares. The stock had previously closed at $141.51.

Analyst Ratings Changes

SLAB has been the topic of a number of analyst reports. JPMorgan Chase & Co. lowered their price target on Silicon Laboratories from $150.00 to $135.00 and set an “overweight” rating on the stock in a research report on Tuesday, November 5th. StockNews.com raised shares of Silicon Laboratories to a “sell” rating in a research note on Friday, November 8th. Susquehanna initiated coverage on shares of Silicon Laboratories in a report on Tuesday, December 17th. They set a “neutral” rating and a $130.00 target price for the company. Benchmark restated a “hold” rating on shares of Silicon Laboratories in a research report on Tuesday, November 5th. Finally, Barclays raised their target price on Silicon Laboratories from $75.00 to $120.00 and gave the stock an “equal weight” rating in a report on Friday, January 17th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat, Silicon Laboratories currently has an average rating of “Hold” and a consensus target price of $133.56.

Silicon Laboratories Price Performance

The stock has a market capitalization of $4.38 billion, a P/E ratio of -18.25 and a beta of 1.17. The company’s 50-day simple moving average is $122.62 and its 200-day simple moving average is $115.61.

Silicon Laboratories (NASDAQ:SLAB) last announced its quarterly earnings results on Monday, November 4th. The semiconductor company reported ($0.13) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.20) by $0.07. Silicon Laboratories had a negative return on equity of 12.60% and a negative net margin of 46.93%. The business had revenue of $166.00 million during the quarter, compared to the consensus estimate of $165.50 million. During the same quarter last year, the firm posted $0.48 EPS. The company’s quarterly revenue was down 18.5% on a year-over-year basis. On average, analysts forecast that Silicon Laboratories Inc. will post -3.56 earnings per share for the current fiscal year.

Insider Activity

In related news, Director William G. Bock sold 2,000 shares of the business’s stock in a transaction that occurred on Wednesday, January 22nd. The stock was sold at an average price of $140.77, for a total value of $281,540.00. Following the completion of the sale, the director now directly owns 32,115 shares in the company, valued at approximately $4,520,828.55. The trade was a 5.86 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. 1.72% of the stock is owned by company insiders.

Institutional Investors Weigh In On Silicon Laboratories

Large investors have recently bought and sold shares of the company. Wellington Management Group LLP boosted its holdings in Silicon Laboratories by 28.3% in the third quarter. Wellington Management Group LLP now owns 888,382 shares of the semiconductor company’s stock valued at $102,670,000 after acquiring an additional 195,997 shares during the last quarter. Clearbridge Investments LLC raised its stake in Silicon Laboratories by 84.0% during the 2nd quarter. Clearbridge Investments LLC now owns 273,776 shares of the semiconductor company’s stock worth $30,288,000 after buying an additional 125,022 shares during the period. Point72 Asset Management L.P. bought a new stake in shares of Silicon Laboratories during the third quarter valued at approximately $7,408,000. FMR LLC lifted its holdings in shares of Silicon Laboratories by 1.1% in the 3rd quarter. FMR LLC now owns 4,843,370 shares of the semiconductor company’s stock worth $559,748,000 after purchasing an additional 54,708 shares in the last quarter. Finally, Schwartz Investment Counsel Inc. grew its position in Silicon Laboratories by 17.9% in the 3rd quarter. Schwartz Investment Counsel Inc. now owns 230,000 shares of the semiconductor company’s stock valued at $26,581,000 after purchasing an additional 35,000 shares during the period.

Silicon Laboratories Company Profile

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.