Silicon Laboratories (NASDAQ:SLAB) CEO Robert Matthew Johnson Sells 8,024 Shares

Silicon Laboratories, Inc. (NASDAQ:SLAB) CEO Robert Matthew Johnson sold 8,024 shares of the firm’s stock in a transaction dated Monday, May 18th. The stock was sold at an average price of $216.83, for a total transaction of $1,739,843.92. Following the sale, the chief executive officer owned 80,519 shares of the company’s stock, valued at $17,458,934.77. This trade represents a 9.06% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link.

Silicon Laboratories Stock Down 0.0%

NASDAQ SLAB traded down $0.08 during trading hours on Tuesday, reaching $216.52. 173,620 shares of the company were exchanged, compared to its average volume of 631,844. Silicon Laboratories, Inc. has a 1 year low of $115.50 and a 1 year high of $218.68. The business’s 50 day simple moving average is $210.77 and its 200-day simple moving average is $172.68. The stock has a market capitalization of $7.14 billion, a P/E ratio of -141.53 and a beta of 1.40.

Silicon Laboratories (NASDAQ:SLAB) last posted its quarterly earnings data on Tuesday, May 5th. The semiconductor company reported $0.53 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.49 by $0.04. Silicon Laboratories had a negative net margin of 6.13% and a negative return on equity of 2.18%. The business had revenue of $213.50 million during the quarter, compared to the consensus estimate of $214.02 million. During the same quarter last year, the company posted ($0.08) earnings per share. The firm’s quarterly revenue was up 20.1% compared to the same quarter last year. As a group, sell-side analysts anticipate that Silicon Laboratories, Inc. will post 0.74 earnings per share for the current year.

Hedge Funds Weigh In On Silicon Laboratories

Hedge funds have recently bought and sold shares of the company. Mitsubishi UFJ Trust & Banking Corp purchased a new position in Silicon Laboratories during the third quarter valued at approximately $1,192,000. Azzad Asset Management Inc. ADV bought a new stake in Silicon Laboratories during the third quarter valued at approximately $924,000. Thrivent Financial for Lutherans lifted its position in Silicon Laboratories by 109.4% during the third quarter. Thrivent Financial for Lutherans now owns 113,337 shares of the semiconductor company’s stock valued at $14,862,000 after purchasing an additional 59,207 shares during the last quarter. Tudor Investment Corp ET AL bought a new stake in Silicon Laboratories during the third quarter valued at approximately $4,718,000. Finally, Fox Run Management L.L.C. bought a new stake in Silicon Laboratories during the third quarter valued at approximately $1,577,000.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the stock. KeyCorp downgraded shares of Silicon Laboratories from an “overweight” rating to a “hold” rating in a report on Wednesday, February 4th. Benchmark downgraded shares of Silicon Laboratories from a “buy” rating to a “hold” rating in a research note on Wednesday, February 4th. Needham & Company LLC downgraded shares of Silicon Laboratories from a “buy” rating to a “hold” rating in a research note on Wednesday, February 4th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Silicon Laboratories in a research note on Friday, March 27th. Finally, Citigroup lifted their target price on shares of Silicon Laboratories from $135.00 to $231.00 and gave the stock a “neutral” rating in a research note on Friday, February 6th. One investment analyst has rated the stock with a Buy rating, eight have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $170.00.

About Silicon Laboratories

Silicon Laboratories (NASDAQ:SLAB) is a global semiconductor company that develops high-performance analog and mixed-signal integrated circuits, wireless system-on-chips (SoCs), microcontrollers, and radio frequency (RF) solutions. Its product portfolio is tailored to support the Internet of Things (IoT), infrastructure, industrial automation, consumer electronics, automotive, and energy markets. By combining silicon, software, and tools, Silicon Labs aims to accelerate development cycles and deliver low-power, highly integrated solutions that address demanding application requirements.

Founded in 1996 and headquartered in Austin, Texas, Silicon Labs has grown into a multinational organization with engineering and sales operations across North America, Europe, and Asia.