Silicon Laboratories, Inc. (NASDAQ:SLAB) CFO John C. Hollister sold 2,000 shares of the business’s stock in a transaction dated Wednesday, October 18th. The stock was sold at an average price of $88.45, for a total transaction of $176,900.00. Following the transaction, the chief financial officer now owns 64,767 shares in the company, valued at $5,728,641.15. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink.
Shares of Silicon Laboratories, Inc. (NASDAQ:SLAB) traded up 1.02% during mid-day trading on Friday, hitting $93.90. 433,933 shares of the stock were exchanged. The stock has a market capitalization of $4.00 billion, a price-to-earnings ratio of 55.99 and a beta of 1.28. Silicon Laboratories, Inc. has a 52 week low of $58.35 and a 52 week high of $94.40. The stock’s 50-day moving average is $83.19 and its 200-day moving average is $75.41.
Silicon Laboratories (NASDAQ:SLAB) last issued its quarterly earnings results on Wednesday, October 25th. The semiconductor company reported $0.90 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.81 by $0.09. The company had revenue of $198.70 million during the quarter, compared to the consensus estimate of $196.20 million. Silicon Laboratories had a return on equity of 11.06% and a net margin of 9.60%. Silicon Laboratories’s revenue was up 11.6% on a year-over-year basis. During the same period last year, the company earned $0.77 earnings per share. Analysts forecast that Silicon Laboratories, Inc. will post $3.19 earnings per share for the current fiscal year.
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Several large investors have recently added to or reduced their stakes in the company. OLD National Bancorp IN bought a new stake in shares of Silicon Laboratories during the third quarter worth $217,000. Crossmark Global Holdings Inc. bought a new stake in shares of Silicon Laboratories during the third quarter worth $300,000. Pier 88 Investment Partners LLC lifted its position in shares of Silicon Laboratories by 78.1% during the third quarter. Pier 88 Investment Partners LLC now owns 4,861 shares of the semiconductor company’s stock worth $388,000 after purchasing an additional 2,131 shares during the last quarter. Hermes Investment Management Ltd. lifted its position in shares of Silicon Laboratories by 2.6% during the third quarter. Hermes Investment Management Ltd. now owns 690,677 shares of the semiconductor company’s stock worth $55,185,000 after purchasing an additional 17,491 shares during the last quarter. Finally, Mutual of America Capital Management LLC lifted its position in shares of Silicon Laboratories by 1.7% during the third quarter. Mutual of America Capital Management LLC now owns 34,442 shares of the semiconductor company’s stock worth $2,752,000 after purchasing an additional 579 shares during the last quarter. Institutional investors and hedge funds own 89.64% of the company’s stock.
A number of research analysts recently commented on the stock. Zacks Investment Research upgraded shares of Silicon Laboratories from a “hold” rating to a “buy” rating and set a $82.00 price target on the stock in a research note on Saturday, August 26th. Roth Capital upped their price target on shares of Silicon Laboratories from $85.00 to $100.00 and gave the company a “buy” rating in a research note on Tuesday. Needham & Company LLC reiterated a “buy” rating and issued a $85.00 price target (up previously from $80.00) on shares of Silicon Laboratories in a research note on Thursday, July 27th. Canaccord Genuity reiterated a “buy” rating and issued a $95.00 price target (up previously from $85.00) on shares of Silicon Laboratories in a research note on Tuesday, October 10th. Finally, Stifel Nicolaus upped their price target on shares of Silicon Laboratories from $85.00 to $95.00 and gave the company a “buy” rating in a research note on Thursday, October 12th. Ten investment analysts have rated the stock with a buy rating, Silicon Laboratories has a consensus rating of “Buy” and an average price target of $98.89.
About Silicon Laboratories
Silicon Laboratories Inc is a provider of silicon, software and solutions for the Internet of Things (IoT), Internet infrastructure, industrial, consumer and automotive markets. The Company operates through mixed-signal analog intensive products segment. It provides analog-intensive, mixed-signal solutions for use in a range of electronic products in various applications for the IoT market.
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