Silicon Laboratories Inc. (NASDAQ:SLAB) CEO Robert Matthew Johnson Sells 5,879 Shares

Silicon Laboratories Inc. (NASDAQ:SLAB) CEO Robert Matthew Johnson sold 5,879 shares of Silicon Laboratories stock in a transaction that occurred on Friday, May 16th. The stock was sold at an average price of $131.20, for a total value of $771,324.80. Following the transaction, the chief executive officer now owns 73,688 shares of the company’s stock, valued at $9,667,865.60. This represents a 7.39% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

Silicon Laboratories Stock Performance

Shares of SLAB opened at $128.50 on Wednesday. Silicon Laboratories Inc. has a 52-week low of $82.82 and a 52-week high of $160.00. The business’s fifty day moving average is $109.00 and its 200-day moving average is $121.41. The firm has a market cap of $4.19 billion, a price-to-earnings ratio of -21.63 and a beta of 1.36.

Silicon Laboratories (NASDAQ:SLAB) last issued its quarterly earnings results on Tuesday, May 13th. The semiconductor company reported ($0.08) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.09) by $0.01. Silicon Laboratories had a negative return on equity of 10.46% and a negative net margin of 32.69%. The company had revenue of $177.71 million for the quarter, compared to analyst estimates of $177.48 million. During the same quarter last year, the company posted ($0.92) EPS. The company’s revenue for the quarter was up 67.0% compared to the same quarter last year. As a group, research analysts forecast that Silicon Laboratories Inc. will post -0.97 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the company. Needham & Company LLC reiterated a “buy” rating and set a $150.00 target price on shares of Silicon Laboratories in a research note on Wednesday, May 14th. Susquehanna lifted their price target on Silicon Laboratories from $100.00 to $110.00 and gave the stock a “neutral” rating in a report on Wednesday, May 14th. Benchmark reaffirmed a “buy” rating and issued a $160.00 price objective on shares of Silicon Laboratories in a report on Wednesday, May 14th. StockNews.com raised Silicon Laboratories from a “sell” rating to a “hold” rating in a report on Wednesday, May 14th. Finally, KeyCorp lifted their price objective on Silicon Laboratories from $115.00 to $160.00 and gave the company an “overweight” rating in a report on Wednesday, January 22nd. Four equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, Silicon Laboratories has an average rating of “Moderate Buy” and an average target price of $126.50.

Institutional Investors Weigh In On Silicon Laboratories

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Intech Investment Management LLC grew its position in Silicon Laboratories by 12.7% during the 1st quarter. Intech Investment Management LLC now owns 20,225 shares of the semiconductor company’s stock worth $2,277,000 after acquiring an additional 2,273 shares during the last quarter. Jane Street Group LLC grew its position in Silicon Laboratories by 329.2% during the 1st quarter. Jane Street Group LLC now owns 75,397 shares of the semiconductor company’s stock worth $8,487,000 after acquiring an additional 57,829 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in Silicon Laboratories by 1.8% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 97,156 shares of the semiconductor company’s stock worth $10,937,000 after acquiring an additional 1,679 shares during the last quarter. S Squared Technology LLC grew its position in Silicon Laboratories by 13.5% during the 1st quarter. S Squared Technology LLC now owns 84,000 shares of the semiconductor company’s stock worth $9,456,000 after acquiring an additional 10,000 shares during the last quarter. Finally, United Services Automobile Association bought a new stake in Silicon Laboratories during the 1st quarter worth $235,000.

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.