Silicon Laboratories (NASDAQ:SLAB) Stock Price Down 6.6% – Here’s Why

Shares of Silicon Laboratories Inc. (NASDAQ:SLAB) were down 6.6% on Tuesday . The company traded as low as $126.57 and last traded at $124.95. Approximately 41,953 shares traded hands during trading, a decline of 88% from the average daily volume of 362,879 shares. The stock had previously closed at $133.81.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on SLAB. Benchmark reiterated a “buy” rating and issued a $160.00 price objective on shares of Silicon Laboratories in a research report on Wednesday. Barclays upped their price target on shares of Silicon Laboratories from $75.00 to $120.00 and gave the stock an “equal weight” rating in a research report on Friday, January 17th. Stifel Nicolaus increased their price target on shares of Silicon Laboratories from $135.00 to $145.00 and gave the company a “buy” rating in a research note on Monday, January 6th. StockNews.com cut shares of Silicon Laboratories from a “hold” rating to a “sell” rating in a research report on Friday, February 28th. Finally, Susquehanna began coverage on Silicon Laboratories in a research report on Tuesday, December 17th. They issued a “neutral” rating and a $130.00 price objective on the stock. One analyst has rated the stock with a sell rating, five have given a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, Silicon Laboratories has a consensus rating of “Hold” and an average price target of $136.20.

Silicon Laboratories Price Performance

The company has a market capitalization of $3.94 billion, a P/E ratio of -20.46 and a beta of 1.15. The business’s 50-day moving average price is $138.66 and its two-hundred day moving average price is $122.76.

Silicon Laboratories (NASDAQ:SLAB) last posted its earnings results on Tuesday, February 4th. The semiconductor company reported ($0.11) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.11). The firm had revenue of $166.25 million during the quarter, compared to analysts’ expectations of $166.09 million. Silicon Laboratories had a negative return on equity of 10.46% and a negative net margin of 32.69%. The company’s revenue was up 91.4% on a year-over-year basis. During the same period in the previous year, the firm earned ($1.19) earnings per share. Research analysts expect that Silicon Laboratories Inc. will post -0.97 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, Director William G. Bock sold 2,000 shares of the business’s stock in a transaction on Wednesday, January 22nd. The shares were sold at an average price of $140.77, for a total value of $281,540.00. Following the sale, the director now directly owns 32,115 shares of the company’s stock, valued at approximately $4,520,828.55. The trade was a 5.86 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Navdeep S. Sooch sold 2,360 shares of the stock in a transaction dated Wednesday, February 5th. The stock was sold at an average price of $149.00, for a total value of $351,640.00. Following the transaction, the director now owns 400,567 shares of the company’s stock, valued at approximately $59,684,483. This trade represents a 0.59 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 5,360 shares of company stock worth $782,610. Company insiders own 1.72% of the company’s stock.

Hedge Funds Weigh In On Silicon Laboratories

A number of large investors have recently bought and sold shares of the company. Capital Research Global Investors grew its holdings in shares of Silicon Laboratories by 23.3% in the 4th quarter. Capital Research Global Investors now owns 2,131,920 shares of the semiconductor company’s stock valued at $264,827,000 after acquiring an additional 403,010 shares in the last quarter. Norges Bank acquired a new position in shares of Silicon Laboratories during the 4th quarter worth about $34,622,000. Wellington Management Group LLP boosted its stake in shares of Silicon Laboratories by 28.3% during the 3rd quarter. Wellington Management Group LLP now owns 888,382 shares of the semiconductor company’s stock worth $102,670,000 after acquiring an additional 195,997 shares during the period. Invesco Ltd. increased its position in Silicon Laboratories by 46.9% during the 4th quarter. Invesco Ltd. now owns 595,382 shares of the semiconductor company’s stock worth $73,958,000 after buying an additional 190,085 shares during the period. Finally, Raymond James Financial Inc. acquired a new position in shares of Silicon Laboratories in the fourth quarter valued at about $14,252,000.

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.