Silicon Laboratories (NASDAQ:SLAB) Reaches New 12-Month Low – Time to Sell?

Silicon Laboratories Inc. (NASDAQ:SLAB) shares hit a new 52-week low during mid-day trading on Thursday . The company traded as low as $82.82 and last traded at $99.41, with a volume of 1632038 shares changing hands. The stock had previously closed at $86.17.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on SLAB. Barclays lifted their price objective on shares of 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 reiterated a “buy” rating and issued a $160.00 price target on shares of Silicon Laboratories in a report on Wednesday, March 12th. Needham & Company LLC reissued a “buy” rating and set a $150.00 price target on shares of Silicon Laboratories in a research note on Wednesday, March 12th. StockNews.com downgraded Silicon Laboratories from a “hold” rating to a “sell” rating in a research note on Thursday, March 27th. Finally, Stifel Nicolaus increased their target price on Silicon Laboratories from $135.00 to $145.00 and gave the company a “buy” rating in a research report on Monday, January 6th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $136.20.

Silicon Laboratories Price Performance

The firm has a market capitalization of $2.92 billion, a PE ratio of -15.12 and a beta of 1.33. The business has a 50-day simple moving average of $127.57 and a 200-day simple moving average of $122.46.

Silicon Laboratories (NASDAQ:SLAB) last released its quarterly earnings results on Tuesday, February 4th. The semiconductor company reported ($0.11) earnings per share for the quarter, meeting the consensus estimate of ($0.11). The company had revenue of $166.25 million for the quarter, compared to analyst estimates of $166.09 million. Silicon Laboratories had a negative return on equity of 10.46% and a negative net margin of 32.69%. Silicon Laboratories’s quarterly revenue was up 91.4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($1.19) EPS. On average, research analysts expect that Silicon Laboratories Inc. will post -0.97 earnings per share for the current year.

Insider Transactions at Silicon Laboratories

In other Silicon Laboratories news, Director Navdeep S. Sooch sold 2,360 shares of the company’s stock in a transaction on Wednesday, February 5th. The stock was sold at an average price of $149.00, for a total value of $351,640.00. Following the transaction, the director now owns 400,567 shares of the company’s stock, valued at $59,684,483. This represents a 0.59 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director William G. Bock sold 1,000 shares of the stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $149.43, for a total value of $149,430.00. Following the completion of the sale, the director now owns 31,115 shares in the company, valued at approximately $4,649,514.45. The trade was a 3.11 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 5,360 shares of company stock worth $782,610. 1.60% of the stock is currently owned by insiders.

Institutional Trading of Silicon Laboratories

A number of large investors have recently made changes to their positions in SLAB. Jones Financial Companies Lllp increased its stake in Silicon Laboratories by 44.5% in the 4th quarter. Jones Financial Companies Lllp now owns 224 shares of the semiconductor company’s stock worth $28,000 after buying an additional 69 shares during the period. Parallel Advisors LLC grew its stake in Silicon Laboratories by 143.7% in the 1st quarter. Parallel Advisors LLC now owns 463 shares of the semiconductor company’s stock worth $52,000 after acquiring an additional 273 shares in the last quarter. Headlands Technologies LLC purchased a new position in shares of Silicon Laboratories during the fourth quarter worth approximately $70,000. Venturi Wealth Management LLC raised its stake in shares of Silicon Laboratories by 207.0% during the fourth quarter. Venturi Wealth Management LLC now owns 786 shares of the semiconductor company’s stock valued at $98,000 after acquiring an additional 530 shares in the last quarter. Finally, Asset Management One Co. Ltd. purchased a new stake in shares of Silicon Laboratories in the fourth quarter valued at approximately $117,000.

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.