Silicon Laboratories (NASDAQ:SLAB) Trading Down 6.7% - What's Next?

Key Points

• Silicon Laboratories' stock has decreased by 6.7%, trading at $124.66 with significantly lower trading volume of 39,491 shares compared to its average session volume.
• Analysts have set varied price targets for the stock, with estimates ranging from $80.00 to $180.00, resulting in an average rating of "Moderate Buy" and a consensus price target of $139.00.
• Insider selling was reported, including a transaction by CEO Robert Matthew Johnson, who sold 5,879 shares at around $131.20, indicating a 7.39% decrease in his stake.

Silicon Laboratories, Inc. (NASDAQ:SLAB - Get Free Report) was down 6.7% on Tuesday . The company traded as low as $128.29 and last traded at $124.66. Approximately 39,491 shares changed hands during trading, a decline of 90% from the average daily volume of 405,780 shares. The stock had previously closed at $133.55.

Analyst Ratings Changes

A number of research analysts have commented on SLAB shares. Barclays increased their price objective on shares of Silicon Laboratories from $100.00 to $130.00 and gave the company an "equal weight" rating in a research note on Tuesday. Wall Street Zen raised shares of Silicon Laboratories from a "sell" rating to a "hold" rating in a report on Wednesday, May 14th. Susquehanna boosted their target price on shares of Silicon Laboratories from $110.00 to $150.00 and gave the company a "neutral" rating in a research note on Tuesday, July 22nd. Needham & Company LLC reaffirmed a "buy" rating and set a $150.00 price target on shares of Silicon Laboratories in a report on Wednesday, May 14th. Finally, Morgan Stanley decreased their price objective on Silicon Laboratories from $157.00 to $144.00 and set an "equal weight" rating for the company in a report on Wednesday. Four equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, Silicon Laboratories currently has a consensus rating of "Moderate Buy" and an average target price of $151.13.

Silicon Laboratories Stock Down 0.8%

The company's 50-day simple moving average is $138.57 and its 200-day simple moving average is $128.26. The stock has a market cap of $4.00 billion, a price-to-earnings ratio of -38.16 and a beta of 1.48.

Silicon Laboratories (NASDAQ:SLAB - Get Free Report) last released its quarterly earnings results on Tuesday, August 5th. The semiconductor company reported $0.11 earnings per share for the quarter, beating analysts' consensus estimates of $0.09 by $0.02. Silicon Laboratories had a negative return on equity of 7.21% and a negative net margin of 14.88%. The business had revenue of $192.85 million during the quarter, compared to analyst estimates of $192.57 million. During the same quarter last year, the company posted ($0.56) EPS. Silicon Laboratories's revenue for the quarter was up 32.6% on a year-over-year basis. As a group, analysts expect that Silicon Laboratories, Inc. will post -0.97 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, CEO Robert Matthew Johnson sold 5,879 shares of the business's stock in a transaction that occurred on Friday, May 16th. The shares were sold at an average price of $131.20, for a total transaction of $771,324.80. Following the transaction, the chief executive officer directly owned 73,688 shares of the company's stock, valued at approximately $9,667,865.60. The trade was a 7.39% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, SVP Robert J. Conrad sold 4,029 shares of the business's stock in a transaction dated Friday, May 16th. The shares were sold at an average price of $131.20, for a total value of $528,604.80. Following the completion of the transaction, the senior vice president owned 25,380 shares in the company, valued at $3,329,856. This trade represents a 13.70% decrease in their position. The disclosure for this sale can be found here. Insiders sold 11,080 shares of company stock valued at $1,452,290 in the last 90 days. Corporate insiders own 1.60% of the company's stock.

Hedge Funds Weigh In On Silicon Laboratories

Several hedge funds have recently bought and sold shares of SLAB. LPL Financial LLC increased its holdings in shares of Silicon Laboratories by 36.6% during the 4th quarter. LPL Financial LLC now owns 30,942 shares of the semiconductor company's stock valued at $3,994,000 after acquiring an additional 8,289 shares during the last quarter. JPMorgan Chase & Co. boosted its holdings in shares of Silicon Laboratories by 50.8% during the 4th quarter. JPMorgan Chase & Co. now owns 159,982 shares of the semiconductor company's stock worth $19,873,000 after buying an additional 53,890 shares during the period. O Shaughnessy Asset Management LLC acquired a new position in Silicon Laboratories in the 4th quarter valued at $214,000. ExodusPoint Capital Management LP bought a new position in Silicon Laboratories in the 4th quarter worth $1,891,000. Finally, Wells Fargo & Company MN lifted its position in Silicon Laboratories by 10.8% during the 4th quarter. Wells Fargo & Company MN now owns 40,988 shares of the semiconductor company's stock worth $5,092,000 after acquiring an additional 3,996 shares during the last quarter.

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.