Silicon Laboratories Inc. (SLAB) Director Navdeep S. Sooch Sells 50,000 Shares
Silicon Laboratories Inc. (NASDAQ:SLAB) Director Navdeep S. Sooch sold 50,000 shares of the company’s stock in a transaction dated Friday, September 30th. The shares were sold at an average price of $59.05, for a total transaction of $2,952,500.00. Following the transaction, the director now owns 524,756 shares in the company, valued at $30,986,841.80. The sale was disclosed in a filing with the SEC, which is available at this hyperlink.
Shares of Silicon Laboratories Inc. (NASDAQ:SLAB) opened at 58.59 on Wednesday. Silicon Laboratories Inc. has a 52-week low of $36.56 and a 52-week high of $59.35. The company’s 50-day moving average is $56.34 and its 200-day moving average is $50.36. The stock has a market cap of $2.44 billion, a PE ratio of 66.58 and a beta of 1.42.
Silicon Laboratories (NASDAQ:SLAB) last released its quarterly earnings data on Wednesday, July 27th. The company reported $0.75 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.64 by $0.11. Silicon Laboratories had a net margin of 5.66% and a return on equity of 8.71%. The firm earned $174.90 million during the quarter, compared to analysts’ expectations of $170.52 million. During the same period last year, the business earned $0.56 earnings per share. Silicon Laboratories’s revenue was up 6.1% compared to the same quarter last year. Equities analysts anticipate that Silicon Laboratories Inc. will post $2.53 EPS for the current year.
Large investors have recently added to or reduced their stakes in the company. Los Angeles Capital Management & Equity Research Inc. purchased a new stake in Silicon Laboratories during the first quarter valued at about $1,247,000. Ngam Advisors L.P. boosted its stake in shares of Silicon Laboratories by 25.9% in the first quarter. Ngam Advisors L.P. now owns 125,217 shares of the company’s stock worth $5,630,000 after buying an additional 25,764 shares in the last quarter. Prudential Financial Inc. boosted its stake in shares of Silicon Laboratories by 32.4% in the first quarter. Prudential Financial Inc. now owns 72,363 shares of the company’s stock worth $3,253,000 after buying an additional 17,700 shares in the last quarter. BlackRock Inc. boosted its stake in shares of Silicon Laboratories by 8.6% in the first quarter. BlackRock Inc. now owns 15,225 shares of the company’s stock worth $684,000 after buying an additional 1,200 shares in the last quarter. Finally, BlackRock Group LTD boosted its stake in shares of Silicon Laboratories by 30.4% in the first quarter. BlackRock Group LTD now owns 26,985 shares of the company’s stock worth $1,212,000 after buying an additional 6,297 shares in the last quarter. Hedge funds and other institutional investors own 87.46% of the company’s stock.
Several brokerages recently commented on SLAB. B. Riley reiterated a “buy” rating and set a $64.00 price target on shares of Silicon Laboratories in a report on Monday, August 1st. Zacks Investment Research upgraded shares of Silicon Laboratories from a “hold” rating to a “strong-buy” rating and set a $62.00 price target on the stock in a report on Tuesday, August 2nd. TheStreet upgraded shares of Silicon Laboratories from a “hold” rating to a “buy” rating in a report on Wednesday, July 27th. Needham & Company LLC reiterated a “hold” rating on shares of Silicon Laboratories in a report on Wednesday, July 27th. Finally, Citigroup Inc. upped their price target on shares of Silicon Laboratories from $56.00 to $63.00 and gave the company a “buy” rating in a report on Thursday, July 28th. Six research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. The stock currently has an average rating of “Buy” and an average target price of $57.91.
About Silicon Laboratories
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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