Silicon Laboratories (NASDAQ:SLAB) Sets New 1-Year High – Here’s Why

Shares of Silicon Laboratories, Inc. (NASDAQ:SLAB) reached a new 52-week high during mid-day trading on Monday . The stock traded as high as $221.00 and last traded at $219.3930, with a volume of 471 shares trading hands. The stock had previously closed at $219.51.

Analysts Set New Price Targets

Separately, Weiss Ratings reiterated a “sell (d-)” rating on shares of Silicon Laboratories in a research note on Friday, March 27th. One research analyst has rated the stock with a Buy rating, eight have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Silicon Laboratories presently has an average rating of “Hold” and a consensus target price of $171.43.

Silicon Laboratories Price Performance

The business’s 50 day moving average price is $215.67 and its 200 day moving average price is $185.13. The stock has a market capitalization of $7.26 billion, a P/E ratio of -143.82 and a beta of 1.37.

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

Insider Activity

In related news, CEO Robert Matthew Johnson sold 8,024 shares of Silicon Laboratories stock in a transaction on Monday, May 18th. The stock was sold at an average price of $216.83, for a total value of $1,739,843.92. Following the completion of the sale, the chief executive officer owned 80,519 shares of the company’s stock, valued at $17,458,934.77. The trade was a 9.06% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. 1.60% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Kestra Advisory Services LLC bought a new position in shares of Silicon Laboratories in the 4th quarter worth approximately $32,000. EverSource Wealth Advisors LLC increased its holdings in Silicon Laboratories by 45.7% during the third quarter. EverSource Wealth Advisors LLC now owns 274 shares of the semiconductor company’s stock valued at $36,000 after buying an additional 86 shares during the last quarter. Covestor Ltd raised its position in Silicon Laboratories by 260.3% in the fourth quarter. Covestor Ltd now owns 281 shares of the semiconductor company’s stock worth $37,000 after acquiring an additional 203 shares during the period. Kemnay Advisory Services Inc. purchased a new position in shares of Silicon Laboratories during the 4th quarter worth $44,000. Finally, Jones Financial Companies Lllp grew its position in shares of Silicon Laboratories by 121.4% during the 1st quarter. Jones Financial Companies Lllp now owns 496 shares of the semiconductor company’s stock valued at $56,000 after acquiring an additional 272 shares during the period.

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.