Silicon Laboratories (NASDAQ:SLAB) Stock Price Down 6.6% – Should You Sell?

Silicon Laboratories Inc. (NASDAQ:SLAB)’s share price traded down 6.6% on Tuesday . The company traded as low as $126.57 and last traded at $124.95. 41,953 shares were traded during mid-day trading, a decline of 88% from the average session volume of 362,879 shares. The stock had previously closed at $133.81.

Analysts Set New Price Targets

SLAB has been the topic of several recent analyst reports. Barclays upped their target price on Silicon Laboratories from $75.00 to $120.00 and gave the company an “equal weight” rating in a research report on Friday, January 17th. Benchmark upgraded shares of Silicon Laboratories from a “hold” rating to a “buy” rating and set a $160.00 price objective on the stock in a report on Wednesday, February 5th. KeyCorp lifted their target price on shares of Silicon Laboratories from $115.00 to $160.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 22nd. Stifel Nicolaus upped their price target on shares of Silicon Laboratories from $135.00 to $145.00 and gave the company a “buy” rating in a research note on Monday, January 6th. Finally, Needham & Company LLC raised their price target on shares of Silicon Laboratories from $140.00 to $150.00 and gave the stock a “buy” rating in a report on Wednesday, February 5th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and six have issued a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $136.20.

Silicon Laboratories Price Performance

The stock has a fifty day simple moving average of $138.72 and a 200-day simple moving average of $122.73. The company has a market capitalization of $4.11 billion, a price-to-earnings ratio of -21.31 and a beta of 1.15.

Silicon Laboratories (NASDAQ:SLAB) last posted its earnings results on Tuesday, February 4th. The semiconductor company reported ($0.11) EPS for the quarter, meeting analysts’ consensus estimates of ($0.11). Silicon Laboratories had a negative return on equity of 10.46% and a negative net margin of 32.69%. The firm had revenue of $166.25 million for the quarter, compared to analysts’ expectations of $166.09 million. During the same period last year, the firm earned ($1.19) EPS. The company’s quarterly revenue was up 91.4% on a year-over-year basis. As a group, equities analysts expect that Silicon Laboratories Inc. will post -0.97 EPS for the current fiscal year.

Insider Activity at Silicon Laboratories

In other Silicon Laboratories news, Director William G. Bock sold 2,000 shares of the business’s stock in a transaction that occurred on Wednesday, January 22nd. The stock was sold at an average price of $140.77, for a total transaction 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 position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Navdeep S. Sooch sold 2,360 shares of the firm’s stock in a transaction that occurred on Wednesday, February 5th. The shares were sold at an average price of $149.00, for a total value of $351,640.00. Following the completion of the transaction, the director now owns 400,567 shares in the company, valued at approximately $59,684,483. This trade represents a 0.59 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 5,360 shares of company stock valued at $782,610. 1.72% of the stock is owned by company insiders.

Institutional Trading of Silicon Laboratories

Several large investors have recently added to or reduced their stakes in SLAB. Capital Research Global Investors grew its holdings in shares of Silicon Laboratories by 23.3% in the fourth quarter. Capital Research Global Investors now owns 2,131,920 shares of the semiconductor company’s stock valued at $264,827,000 after purchasing an additional 403,010 shares during the period. Norges Bank acquired a new position in Silicon Laboratories in the 4th quarter valued at about $34,622,000. Wellington Management Group LLP grew its stake in shares of Silicon Laboratories by 28.3% in the 3rd quarter. Wellington Management Group LLP now owns 888,382 shares of the semiconductor company’s stock valued at $102,670,000 after buying an additional 195,997 shares during the period. Invesco Ltd. increased its holdings in shares of Silicon Laboratories by 46.9% during the 4th quarter. Invesco Ltd. now owns 595,382 shares of the semiconductor company’s stock worth $73,958,000 after buying an additional 190,085 shares during the last quarter. Finally, Raymond James Financial Inc. purchased a new stake in shares of Silicon Laboratories during the 4th quarter valued at approximately $14,252,000.

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.