Navdeep S. Sooch Sells 32,816 Shares of Silicon Laboratories Inc. (SLAB) Stock
Silicon Laboratories Inc. (NASDAQ:SLAB) Director Navdeep S. Sooch sold 32,816 shares of the business’s stock in a transaction on Monday, November 14th. The shares were sold at an average price of $64.01, for a total transaction of $2,100,552.16. Following the completion of the sale, the director now directly owns 524,656 shares of the company’s stock, valued at $33,583,230.56. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.
Silicon Laboratories Inc. (NASDAQ:SLAB) opened at 66.50 on Friday. Silicon Laboratories Inc. has a 12 month low of $36.56 and a 12 month high of $67.10. The firm’s 50-day moving average is $60.03 and its 200 day moving average is $53.69. The firm has a market capitalization of $2.78 billion, a price-to-earnings ratio of 59.43 and a beta of 1.16.
Silicon Laboratories (NASDAQ:SLAB) last posted its quarterly earnings results on Wednesday, October 26th. The company reported $0.77 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.64 by $0.13. Silicon Laboratories had a net margin of 6.97% and a return on equity of 9.80%. The company had revenue of $178.10 million for the quarter, compared to the consensus estimate of $73.81 million. During the same period last year, the firm posted $0.51 EPS. The company’s revenue for the quarter was up 14.0% on a year-over-year basis. Equities analysts predict that Silicon Laboratories Inc. will post $2.68 earnings per share for the current year.
Several hedge funds and other institutional investors have recently bought and sold shares of SLAB. Bank of New York Mellon Corp increased its position in Silicon Laboratories by 1.4% in the second quarter. Bank of New York Mellon Corp now owns 432,135 shares of the company’s stock worth $21,062,000 after buying an additional 5,961 shares during the last quarter. Retirement Systems of Alabama increased its position in Silicon Laboratories by 4.5% in the second quarter. Retirement Systems of Alabama now owns 355,086 shares of the company’s stock worth $17,307,000 after buying an additional 15,255 shares during the last quarter. Moody Aldrich Partners LLC increased its position in Silicon Laboratories by 174.5% in the second quarter. Moody Aldrich Partners LLC now owns 28,110 shares of the company’s stock worth $1,370,000 after buying an additional 17,870 shares during the last quarter. Strs Ohio increased its position in Silicon Laboratories by 645.5% in the second quarter. Strs Ohio now owns 24,600 shares of the company’s stock worth $1,199,000 after buying an additional 21,300 shares during the last quarter. Finally, Bank of Montreal Can acquired a new position in Silicon Laboratories during the second quarter worth about $132,000. Institutional investors own 89.10% of the company’s stock.
A number of research firms have commented on SLAB. B. Riley restated a “buy” rating and issued a $72.00 price objective on shares of Silicon Laboratories in a research note on Tuesday, November 1st. Zacks Investment Research upgraded shares of Silicon Laboratories from a “hold” rating to a “buy” rating and set a $67.00 price objective on the stock in a research note on Tuesday, November 1st. MKM Partners upgraded shares of Silicon Laboratories from a “neutral” rating to a “buy” rating and set a $73.00 price objective on the stock in a research note on Thursday, October 27th. Drexel Hamilton lifted their price objective on shares of Silicon Laboratories from $62.00 to $72.00 and gave the company a “buy” rating in a research note on Wednesday, October 26th. Finally, Needham & Company LLC restated a “hold” rating on shares of Silicon Laboratories in a research note on Wednesday, October 5th. Three research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. The stock presently has an average rating of “Buy” and an average price target of $63.00.
Silicon Laboratories Company Profile
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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