Silicon Laboratories (NASDAQ:SLAB) Sets New 12-Month Low – Here’s What Happened

Shares of Silicon Laboratories Inc. (NASDAQ:SLAB) hit a new 52-week low during trading on Friday . The stock traded as low as $92.52 and last traded at $92.84, with a volume of 10819 shares trading hands. The stock had previously closed at $99.12.

Analyst Ratings Changes

Several research firms have issued reports on SLAB. Barclays increased their price objective on Silicon Laboratories from $75.00 to $120.00 and gave the stock an “equal weight” rating in a research note on Friday, January 17th. StockNews.com downgraded shares of Silicon Laboratories from a “hold” rating to a “sell” rating in a report on Thursday, March 27th. Stifel Nicolaus upped their price objective on shares of Silicon Laboratories from $135.00 to $145.00 and gave the stock a “buy” rating in a research note on Monday, January 6th. Susquehanna initiated coverage on shares of Silicon Laboratories in a research note on Tuesday, December 17th. They issued a “neutral” rating and a $130.00 target price for the company. Finally, Needham & Company LLC restated a “buy” rating and set a $150.00 price target on shares of Silicon Laboratories in a research report on Wednesday, March 12th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $136.20.

Silicon Laboratories Stock Performance

The stock has a market capitalization of $2.99 billion, a P/E ratio of -15.50 and a beta of 1.33. The stock has a 50-day simple moving average of $133.58 and a 200 day simple moving average of $123.56.

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

Insiders Place Their Bets

In other news, Director Navdeep S. Sooch sold 2,360 shares of the firm’s 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 completion of the transaction, the director now owns 400,567 shares in the company, valued at $59,684,483. This trade represents a 0.59 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director William G. Bock sold 1,000 shares of the company’s stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $149.43, for a total value of $149,430.00. Following the sale, the director now owns 31,115 shares in the company, valued at approximately $4,649,514.45. This represents a 3.11 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 5,360 shares of company stock worth $782,610. Corporate insiders own 1.60% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. Jones Financial Companies Lllp boosted its stake in Silicon Laboratories by 44.5% in the 4th quarter. Jones Financial Companies Lllp now owns 224 shares of the semiconductor company’s stock valued at $28,000 after purchasing an additional 69 shares during the period. Headlands Technologies LLC acquired a new position in shares of Silicon Laboratories during the fourth quarter worth $70,000. Venturi Wealth Management LLC raised its position in Silicon Laboratories by 207.0% in the fourth quarter. Venturi Wealth Management LLC now owns 786 shares of the semiconductor company’s stock valued at $98,000 after purchasing an additional 530 shares during the last quarter. Asset Management One Co. Ltd. bought a new stake in Silicon Laboratories during the 4th quarter worth approximately $117,000. Finally, KBC Group NV increased its holdings in Silicon Laboratories by 42.1% in the fourth quarter. KBC Group NV now owns 1,279 shares of the semiconductor company’s stock valued at $159,000 after purchasing an additional 379 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.