Jack R. Lazar Sells 4,000 Shares of Silicon Laboratories Inc. (SLAB) Stock
Silicon Laboratories Inc. (NASDAQ:SLAB) Director Jack R. Lazar sold 4,000 shares of the stock in a transaction dated Wednesday, October 5th. The shares were sold at an average price of $60.00, for a total value of $240,000.00. Following the transaction, the director now directly owns 13,324 shares in the company, valued at approximately $799,440. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink.
Shares of Silicon Laboratories Inc. (NASDAQ:SLAB) opened at 59.46 on Friday. Silicon Laboratories Inc. has a 12 month low of $36.56 and a 12 month high of $60.00. The firm has a 50 day moving average price of $56.85 and a 200-day moving average price of $50.60. The company has a market cap of $2.47 billion, a P/E ratio of 67.57 and a beta of 1.42.
Silicon Laboratories (NASDAQ:SLAB) last released its earnings results on Wednesday, July 27th. The company reported $0.75 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.64 by $0.11. The business had revenue of $174.90 million for the quarter, compared to the consensus estimate of $170.52 million. Silicon Laboratories had a return on equity of 8.71% and a net margin of 5.66%. Silicon Laboratories’s quarterly revenue was up 6.1% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.56 earnings per share. Analysts anticipate that Silicon Laboratories Inc. will post $2.54 earnings per share for the current fiscal year.
SLAB has been the topic of a number of analyst reports. Roth Capital initiated coverage on Silicon Laboratories in a report on Wednesday, September 28th. They set a “buy” rating and a $65.00 price objective on the stock. Stifel Nicolaus restated a “buy” rating and set a $67.00 target price (up previously from $65.00) on shares of Silicon Laboratories in a research note on Friday, August 26th. TheStreet upgraded Silicon Laboratories from a “hold” rating to a “buy” rating in a research note on Wednesday, July 27th. Zacks Investment Research downgraded Silicon Laboratories from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, September 28th. Finally, Needham & Company LLC restated a “hold” rating on shares of Silicon Laboratories in a research note on Wednesday. Six investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus price target of $57.91.
Hedge funds have recently added to or reduced their stakes in the stock. Macquarie Group Ltd. increased its stake in Silicon Laboratories by 104.0% in the second quarter. Macquarie Group Ltd. now owns 355,208 shares of the company’s stock worth $17,313,000 after buying an additional 181,065 shares in the last quarter. Carlson Capital L P increased its stake in Silicon Laboratories by 18.5% in the second quarter. Carlson Capital L P now owns 1,037,632 shares of the company’s stock worth $50,574,000 after buying an additional 161,754 shares in the last quarter. Vanguard Group Inc. increased its stake in Silicon Laboratories by 5.6% in the second quarter. Vanguard Group Inc. now owns 2,940,876 shares of the company’s stock worth $143,338,000 after buying an additional 155,576 shares in the last quarter. Hermes Investment Management Ltd. increased its stake in Silicon Laboratories by 18.2% in the second quarter. Hermes Investment Management Ltd. now owns 909,087 shares of the company’s stock worth $44,309,000 after buying an additional 140,260 shares in the last quarter. Finally, Mackenzie Financial Corp increased its stake in Silicon Laboratories by 16.5% in the second quarter. Mackenzie Financial Corp now owns 947,037 shares of the company’s stock worth $46,159,000 after buying an additional 133,819 shares in the last quarter. 87.46% of the stock is currently owned by institutional investors and hedge funds.
About Silicon Laboratories
Silicon Laboratories Inc is a provider of silicon, software and solutions for the Internet of things (IoT), Internet infrastructure, industrial control, consumer and automotive markets. The Company provides customers with advantages in performance, energy savings, connectivity and design simplicity. It provides developers with the tools and technologies they need to advance from initial idea to final product.
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