Silicon Laboratories (NASDAQ:SLAB) Trading Down 6.7% - Here's Why

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.

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

Analysts Set New Price Targets

Several research analysts have weighed in on SLAB shares. Stifel Nicolaus boosted their price objective on Silicon Laboratories from $144.00 to $160.00 and gave the stock a "buy" rating in a research report on Friday, July 18th. Morgan Stanley cut their price objective on Silicon Laboratories from $157.00 to $144.00 and set an "equal weight" rating on the stock in a research report on Wednesday. Susquehanna boosted their price objective on Silicon Laboratories from $110.00 to $150.00 and gave the stock a "neutral" rating in a research report on Tuesday, July 22nd. KeyCorp boosted their price objective on Silicon Laboratories from $160.00 to $180.00 and gave the stock an "overweight" rating in a research report on Tuesday, July 8th. Finally, Benchmark reissued a "buy" rating and issued a $160.00 price objective on shares of Silicon Laboratories in a research report on Tuesday, May 27th. Four analysts have rated the stock with a hold rating and five have given a buy rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $151.13.

Silicon Laboratories Trading Up 0.9%

The business has a 50-day moving average price of $138.69 and a 200 day moving average price of $128.03. The stock has a market cap of $4.12 billion, a PE ratio of -38.95 and a beta of 1.48.

Silicon Laboratories (NASDAQ:SLAB - Get Free Report) last released its quarterly earnings data on Tuesday, August 5th. The semiconductor company reported $0.11 earnings per share (EPS) 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 company had revenue of $192.85 million for the quarter, compared to analyst estimates of $192.57 million. During the same period in the previous year, the company posted ($0.56) EPS. The firm's revenue for the quarter was up 32.6% compared to the same quarter last year. On average, equities analysts predict that Silicon Laboratories, Inc. will post -0.97 earnings per share for the current year.

Insiders Place Their Bets

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

Institutional Trading of Silicon Laboratories

A number of hedge funds and other institutional investors have recently made changes to their positions in SLAB. Coldstream Capital Management Inc. increased its stake in Silicon Laboratories by 2.8% in the 4th quarter. Coldstream Capital Management Inc. now owns 2,473 shares of the semiconductor company's stock worth $307,000 after acquiring an additional 68 shares during the last quarter. Cooper Financial Group increased its stake in Silicon Laboratories by 1.9% in the 1st quarter. Cooper Financial Group now owns 5,354 shares of the semiconductor company's stock worth $603,000 after acquiring an additional 98 shares during the last quarter. Oregon Public Employees Retirement Fund increased its stake in Silicon Laboratories by 1.5% in the 1st quarter. Oregon Public Employees Retirement Fund now owns 6,668 shares of the semiconductor company's stock worth $751,000 after acquiring an additional 100 shares during the last quarter. State of Michigan Retirement System increased its stake in Silicon Laboratories by 1.3% in the 1st quarter. State of Michigan Retirement System now owns 7,797 shares of the semiconductor company's stock worth $878,000 after acquiring an additional 100 shares during the last quarter. Finally, Securian Asset Management Inc. increased its stake in Silicon Laboratories by 4.2% in the 1st quarter. Securian Asset Management Inc. now owns 2,498 shares of the semiconductor company's stock worth $281,000 after acquiring an additional 100 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.