Silicon Laboratories (NASDAQ:SLAB) Trading Down 7.6% - Here's Why

Silicon Laboratories, Inc. (NASDAQ:SLAB - Get Free Report)'s stock price fell 7.6% during mid-day trading on Monday . The company traded as low as $141.35 and last traded at $141.87. 410,334 shares changed hands during mid-day trading, an increase of 3% from the average session volume of 400,107 shares. The stock had previously closed at $153.48.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on SLAB. Needham & Company LLC reissued a "buy" rating and issued a $150.00 price objective on shares of Silicon Laboratories in a research report on Wednesday, May 14th. Wall Street Zen raised Silicon Laboratories from a "sell" rating to a "hold" rating in a research report on Wednesday, May 14th. Stifel Nicolaus lowered their price target on Silicon Laboratories from $145.00 to $120.00 and set a "buy" rating for the company in a research report on Thursday, April 17th. Susquehanna lifted their price target on Silicon Laboratories from $100.00 to $110.00 and gave the stock a "neutral" rating in a research report on Wednesday, May 14th. Finally, Benchmark reaffirmed a "buy" rating and set a $160.00 price target on shares of Silicon Laboratories in a research report on Tuesday, May 27th. Four equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $126.50.

Silicon Laboratories Stock Performance

The stock has a 50 day simple moving average of $130.27 and a two-hundred day simple moving average of $126.95. The firm has a market cap of $4.55 billion, a PE ratio of -27.35 and a beta of 1.47.

Silicon Laboratories (NASDAQ:SLAB - Get Free Report) last released its quarterly earnings data on Tuesday, May 13th. The semiconductor company reported ($0.08) earnings per share for the quarter, beating analysts' consensus estimates of ($0.09) by $0.01. The business had revenue of $177.71 million during the quarter, compared to analyst estimates of $177.48 million. Silicon Laboratories had a negative return on equity of 8.80% and a negative net margin of 25.16%. The company's revenue was up 67.0% on a year-over-year basis. During the same quarter last year, the business posted ($0.92) EPS. Equities research analysts forecast that Silicon Laboratories, Inc. will post -0.97 earnings per share for the current year.

Insider Activity at Silicon Laboratories

In related news, CEO Robert Matthew Johnson sold 5,879 shares of Silicon Laboratories stock in a transaction dated Friday, May 16th. The stock was sold at an average price of $131.20, for a total value of $771,324.80. Following the completion of the transaction, the chief executive officer owned 73,688 shares in the company, valued at $9,667,865.60. The trade was a 7.39% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Robert J. Conrad sold 4,029 shares of Silicon Laboratories 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 of the company's stock, valued at approximately $3,329,856. This represents a 13.70% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 11,626 shares of company stock worth $1,509,319 in the last 90 days. Corporate insiders own 1.60% of the company's stock.

Hedge Funds Weigh In On Silicon Laboratories

Institutional investors and hedge funds have recently modified their holdings of the business. FMR LLC increased its stake in Silicon Laboratories by 0.5% during the 4th quarter. FMR LLC now owns 4,867,203 shares of the semiconductor company's stock worth $604,604,000 after buying an additional 23,833 shares in the last quarter. Vanguard Group Inc. boosted its holdings in shares of Silicon Laboratories by 1.9% during the 4th quarter. Vanguard Group Inc. now owns 3,959,580 shares of the semiconductor company's stock worth $491,859,000 after purchasing an additional 71,942 shares during the last quarter. Capital Research Global Investors grew its position in shares of Silicon Laboratories by 23.3% in the fourth quarter. Capital Research Global Investors now owns 2,131,920 shares of the semiconductor company's stock valued at $264,827,000 after purchasing an additional 403,010 shares in the last quarter. Invesco Ltd. grew its position in shares of Silicon Laboratories by 42.7% in the first quarter. Invesco Ltd. now owns 849,730 shares of the semiconductor company's stock valued at $95,654,000 after purchasing an additional 254,348 shares in the last quarter. Finally, Federated Hermes Inc. grew its position in shares of Silicon Laboratories by 4.1% in the fourth quarter. Federated Hermes Inc. now owns 638,464 shares of the semiconductor company's stock valued at $79,310,000 after purchasing an additional 25,178 shares in 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.