Silicon Laboratories (NASDAQ:SLAB) Reaches New 52-Week Low at $122.90

Silicon Laboratories Inc. (NASDAQ:SLABGet Rating)’s share price reached a new 52-week low on Tuesday . The stock traded as low as $122.90 and last traded at $122.90, with a volume of 792 shares trading hands. The stock had previously closed at $128.39.

SLAB has been the topic of several research analyst reports. Cowen dropped their price target on Silicon Laboratories from $205.00 to $180.00 in a research note on Thursday, April 28th. Morgan Stanley lowered their target price on Silicon Laboratories from $208.00 to $156.00 and set an “equal weight” rating on the stock in a research note on Monday, April 25th. StockNews.com assumed coverage on Silicon Laboratories in a research note on Thursday, March 31st. They issued a “hold” rating on the stock. Cowen lowered their target price on Silicon Laboratories from $205.00 to $180.00 in a research note on Thursday, April 28th. Finally, Stifel Nicolaus upped their target price on Silicon Laboratories from $200.00 to $210.00 in a research note on Wednesday, April 27th. Three equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $197.00.

The company has a market cap of $4.24 billion, a PE ratio of 2.47 and a beta of 1.20. The business has a 50-day simple moving average of $140.72 and a 200-day simple moving average of $153.51. The company has a quick ratio of 8.40, a current ratio of 8.62 and a debt-to-equity ratio of 0.26.

Silicon Laboratories (NASDAQ:SLABGet Rating) last announced its earnings results on Wednesday, April 27th. The semiconductor company reported $0.77 EPS for the quarter, beating analysts’ consensus estimates of $0.43 by $0.34. Silicon Laboratories had a return on equity of 4.08% and a net margin of 266.91%. The business had revenue of $233.80 million during the quarter, compared to analysts’ expectations of $226.22 million. During the same quarter in the prior year, the firm earned $0.65 earnings per share. The business’s revenue was up 48.2% compared to the same quarter last year. On average, research analysts forecast that Silicon Laboratories Inc. will post 2.38 EPS for the current fiscal year.

In related news, CEO Robert Matthew Johnson sold 5,435 shares of the stock in a transaction that occurred on Monday, June 6th. The stock was sold at an average price of $149.38, for a total value of $811,880.30. Following the completion of the sale, the chief executive officer now owns 26,873 shares of the company’s stock, valued at $4,014,288.74. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Nina Richardson sold 473 shares of the stock in a transaction that occurred on Friday, April 22nd. The shares were sold at an average price of $129.60, for a total value of $61,300.80. Following the completion of the sale, the director now directly owns 8,171 shares of the company’s stock, valued at approximately $1,058,961.60. The disclosure for this sale can be found here. Insiders have sold 6,908 shares of company stock valued at $1,014,631 in the last three months. Insiders own 1.61% of the company’s stock.

Institutional investors have recently modified their holdings of the stock. CWM LLC purchased a new position in Silicon Laboratories in the fourth quarter worth approximately $26,000. Fifth Third Bancorp grew its position in Silicon Laboratories by 113.3% in the fourth quarter. Fifth Third Bancorp now owns 128 shares of the semiconductor company’s stock worth $26,000 after acquiring an additional 68 shares during the period. Rockefeller Capital Management L.P. grew its position in Silicon Laboratories by 177.6% in the fourth quarter. Rockefeller Capital Management L.P. now owns 136 shares of the semiconductor company’s stock worth $28,000 after acquiring an additional 87 shares during the period. Covestor Ltd purchased a new position in Silicon Laboratories in the fourth quarter worth approximately $37,000. Finally, Elequin Capital LP purchased a new position in Silicon Laboratories in the first quarter worth approximately $27,000. Institutional investors own 99.40% of the company’s stock.

About Silicon Laboratories (NASDAQ:SLAB)

Silicon Laboratories Inc, a fabless semiconductor company, provides various analog-intensive mixed-signal solutions in the United States, China, 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 Internet of Things (IoT), including connected home and security, industrial automation and control, smart metering, smart lighting, commercial building automation, consumer electronics, asset tracking, and medical instrumentation.

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