William G. Bock Sells 2,000 Shares of Silicon Laboratories Inc. (NASDAQ:SLAB) Stock

Silicon Laboratories Inc. (NASDAQ:SLAB) Director William G. Bock sold 2,000 shares of the firm’s stock in a transaction dated Wednesday, January 22nd. The stock was sold at an average price of $140.77, for a total value of $281,540.00. Following the completion of the sale, the director now directly owns 32,115 shares in the company, valued at approximately $4,520,828.55. The trade was a 5.86 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link.

Silicon Laboratories Price Performance

Shares of NASDAQ SLAB opened at $141.51 on Friday. The company has a market capitalization of $4.59 billion, a price-to-earnings ratio of -19.12 and a beta of 1.17. Silicon Laboratories Inc. has a 1-year low of $94.00 and a 1-year high of $154.91. The business has a 50-day moving average of $122.62 and a 200-day moving average of $115.61.

Silicon Laboratories (NASDAQ:SLAB) last issued its quarterly earnings data on Monday, November 4th. The semiconductor company reported ($0.13) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.20) by $0.07. Silicon Laboratories had a negative net margin of 46.93% and a negative return on equity of 12.60%. The company had revenue of $166.00 million during the quarter, compared to the consensus estimate of $165.50 million. During the same quarter last year, the company earned $0.48 earnings per share. Silicon Laboratories’s revenue for the quarter was down 18.5% on a year-over-year basis. Research analysts expect that Silicon Laboratories Inc. will post -3.56 EPS for the current fiscal year.

Institutional Investors Weigh In On Silicon Laboratories

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Franklin Resources Inc. boosted its position in Silicon Laboratories by 1.9% in the 3rd quarter. Franklin Resources Inc. now owns 231,889 shares of the semiconductor company’s stock valued at $27,001,000 after buying an additional 4,278 shares during the last quarter. Point72 Asset Management L.P. acquired a new position in shares of Silicon Laboratories in the third quarter worth about $7,408,000. Intech Investment Management LLC boosted its holdings in Silicon Laboratories by 82.9% in the third quarter. Intech Investment Management LLC now owns 12,837 shares of the semiconductor company’s stock valued at $1,484,000 after purchasing an additional 5,818 shares during the last quarter. Barclays PLC grew its stake in Silicon Laboratories by 23.4% during the 3rd quarter. Barclays PLC now owns 70,568 shares of the semiconductor company’s stock valued at $8,157,000 after purchasing an additional 13,363 shares in the last quarter. Finally, Clearbridge Investments LLC increased its holdings in Silicon Laboratories by 84.0% during the 2nd quarter. Clearbridge Investments LLC now owns 273,776 shares of the semiconductor company’s stock worth $30,288,000 after purchasing an additional 125,022 shares during the last quarter.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on SLAB shares. KeyCorp raised their target price on shares of Silicon Laboratories from $115.00 to $160.00 and gave the stock an “overweight” rating in a research report on Wednesday. Morgan Stanley decreased their price target on shares of Silicon Laboratories from $123.00 to $97.00 and set an “equal weight” rating on the stock in a report on Tuesday, November 5th. Barclays upped their price objective on Silicon Laboratories from $75.00 to $120.00 and gave the stock an “equal weight” rating in a report on Friday, January 17th. Benchmark reissued a “hold” rating on shares of Silicon Laboratories in a research report on Tuesday, November 5th. Finally, JPMorgan Chase & Co. cut their price objective on Silicon Laboratories from $150.00 to $135.00 and set an “overweight” rating on the stock in a report on Tuesday, November 5th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat, Silicon Laboratories currently has an average rating of “Hold” and a consensus price target of $133.56.

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.