Robert Matthew Johnson Sells 8,024 Shares of Silicon Laboratories (NASDAQ:SLAB) Stock

Silicon Laboratories, Inc. (NASDAQ:SLAB) CEO Robert Matthew Johnson sold 8,024 shares of the stock in a transaction on Monday, May 18th. The stock was sold at an average price of $216.83, for a total transaction of $1,739,843.92. Following the sale, the chief executive officer owned 80,519 shares of the company’s stock, valued at approximately $17,458,934.77. This trade represents a 9.06% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

Silicon Laboratories Price Performance

Shares of SLAB traded down $0.08 during trading hours on Tuesday, hitting $216.52. 173,620 shares of the stock were exchanged, compared to its average volume of 631,844. Silicon Laboratories, Inc. has a fifty-two week low of $115.50 and a fifty-two week high of $218.68. The business has a 50-day moving average of $210.77 and a 200-day moving average of $172.68. The firm has a market capitalization of $7.14 billion, a P/E ratio of -141.53 and a beta of 1.40.

Silicon Laboratories (NASDAQ:SLAB) last posted its quarterly earnings data on Tuesday, May 5th. The semiconductor company reported $0.53 earnings per share for the quarter, topping the consensus estimate of $0.49 by $0.04. The company had revenue of $213.50 million during the quarter, compared to analysts’ expectations of $214.02 million. Silicon Laboratories had a negative net margin of 6.13% and a negative return on equity of 2.18%. Silicon Laboratories’s revenue for the quarter was up 20.1% compared to the same quarter last year. During the same period in the prior year, the company posted ($0.08) earnings per share. As a group, analysts forecast that Silicon Laboratories, Inc. will post 0.74 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in SLAB. EverSource Wealth Advisors LLC lifted its position in shares of Silicon Laboratories by 66.7% during the first quarter. EverSource Wealth Advisors LLC now owns 225 shares of the semiconductor company’s stock valued at $47,000 after purchasing an additional 90 shares in the last quarter. Kestra Advisory Services LLC bought a new position in shares of Silicon Laboratories during the fourth quarter valued at about $32,000. Covestor Ltd lifted its position in shares of Silicon Laboratories by 260.3% during the fourth quarter. Covestor Ltd now owns 281 shares of the semiconductor company’s stock valued at $37,000 after purchasing an additional 203 shares in the last quarter. UMB Bank n.a. lifted its position in shares of Silicon Laboratories by 43.9% during the third quarter. UMB Bank n.a. now owns 282 shares of the semiconductor company’s stock valued at $37,000 after purchasing an additional 86 shares in the last quarter. Finally, Kemnay Advisory Services Inc. bought a new position in shares of Silicon Laboratories during the fourth quarter valued at about $44,000.

Analyst Upgrades and Downgrades

SLAB has been the subject of a number of research reports. Royal Bank Of Canada raised their price target on shares of Silicon Laboratories from $160.00 to $205.00 and gave the stock a “sector perform” rating in a report on Thursday, February 5th. Citigroup raised their price target on shares of Silicon Laboratories from $135.00 to $231.00 and gave the stock a “neutral” rating in a report on Friday, February 6th. Weiss Ratings restated a “sell (d-)” rating on shares of Silicon Laboratories in a report on Friday, March 27th. Needham & Company LLC cut shares of Silicon Laboratories from a “buy” rating to a “hold” rating in a report on Wednesday, February 4th. Finally, KeyCorp cut shares of Silicon Laboratories from an “overweight” rating to a “hold” rating in a report on Wednesday, February 4th. One equities research analyst has rated the stock with a Buy rating, eight have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $170.00.

Silicon Laboratories Company Profile

Silicon Laboratories (NASDAQ:SLAB) is a global semiconductor company that develops high-performance analog and mixed-signal integrated circuits, wireless system-on-chips (SoCs), microcontrollers, and radio frequency (RF) solutions. Its product portfolio is tailored to support the Internet of Things (IoT), infrastructure, industrial automation, consumer electronics, automotive, and energy markets. By combining silicon, software, and tools, Silicon Labs aims to accelerate development cycles and deliver low-power, highly integrated solutions that address demanding application requirements.

Founded in 1996 and headquartered in Austin, Texas, Silicon Labs has grown into a multinational organization with engineering and sales operations across North America, Europe, and Asia.