Silicon Laboratories (NASDAQ:SLAB) Reaches New 52-Week Low – Here’s What Happened

Silicon Laboratories Inc. (NASDAQ:SLAB)’s stock price reached a new 52-week low during trading on Thursday . The stock traded as low as $82.82 and last traded at $99.41, with a volume of 1632038 shares. The stock had previously closed at $86.17.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on SLAB shares. Stifel Nicolaus raised their target price 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. Needham & Company LLC reaffirmed a “buy” rating and set a $150.00 price objective on shares of Silicon Laboratories in a research report on Wednesday, March 12th. Benchmark reiterated a “buy” rating and set a $160.00 price objective on shares of Silicon Laboratories in a research note on Wednesday, March 12th. Susquehanna initiated coverage on Silicon Laboratories in a research note on Tuesday, December 17th. They issued a “neutral” rating and a $130.00 target price on the stock. Finally, StockNews.com lowered Silicon Laboratories from a “hold” rating to a “sell” rating in a research report on Thursday, March 27th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $136.20.

Silicon Laboratories Trading Up 1.8 %

The company’s 50 day simple moving average is $127.57 and its 200-day simple moving average is $122.46. The firm has a market cap of $2.92 billion, a P/E ratio of -15.12 and a beta of 1.33.

Silicon Laboratories (NASDAQ:SLAB) last issued its earnings results on Tuesday, February 4th. The semiconductor company reported ($0.11) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.11). The company had revenue of $166.25 million for the quarter, compared to analysts’ expectations of $166.09 million. Silicon Laboratories had a negative net margin of 32.69% and a negative return on equity of 10.46%. The firm’s quarterly revenue was up 91.4% on a year-over-year basis. During the same quarter last year, the company posted ($1.19) earnings per share. On average, sell-side analysts anticipate that Silicon Laboratories Inc. will post -0.97 earnings per share for the current year.

Insider Buying and Selling at Silicon Laboratories

In other Silicon Laboratories news, Director Navdeep S. Sooch sold 2,360 shares of the company’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 sale, the director now owns 400,567 shares in the company, valued at $59,684,483. This represents a 0.59 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director William G. Bock sold 2,000 shares of the firm’s stock in a transaction dated 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 transaction, the director now directly owns 32,115 shares in the company, valued at $4,520,828.55. This trade represents a 5.86 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 5,360 shares of company stock worth $782,610 in the last three months. 1.60% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Silicon Laboratories

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Jones Financial Companies Lllp increased its stake in shares of Silicon Laboratories by 44.5% in the fourth quarter. Jones Financial Companies Lllp now owns 224 shares of the semiconductor company’s stock worth $28,000 after purchasing an additional 69 shares in the last quarter. Parallel Advisors LLC boosted its holdings in Silicon Laboratories by 143.7% in the 1st quarter. Parallel Advisors LLC now owns 463 shares of the semiconductor company’s stock worth $52,000 after buying an additional 273 shares during the period. Headlands Technologies LLC purchased a new stake in Silicon Laboratories in the 4th quarter worth $70,000. Venturi Wealth Management LLC increased its stake in Silicon Laboratories by 207.0% in the 4th quarter. Venturi Wealth Management LLC now owns 786 shares of the semiconductor company’s stock worth $98,000 after buying an additional 530 shares in the last quarter. Finally, Asset Management One Co. Ltd. bought a new stake in Silicon Laboratories during the fourth quarter valued at about $117,000.

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.