Silicon Laboratories (NASDAQ:SLAB) Share Price Passes Above Two Hundred Day Moving Average – Here’s What Happened

Shares of Silicon Laboratories, Inc. (NASDAQ:SLAB) crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $152.05 and traded as high as $208.11. Silicon Laboratories shares last traded at $207.19, with a volume of 328,150 shares.

Analyst Ratings Changes

SLAB has been the subject of a number of recent analyst reports. Weiss Ratings restated a “sell (d-)” rating on shares of Silicon Laboratories in a research report on Monday, December 29th. Royal Bank Of Canada lifted their price target on shares of Silicon Laboratories from $160.00 to $205.00 and gave the company a “sector perform” rating in a research note on Thursday, February 5th. Needham & Company LLC lowered shares of Silicon Laboratories from a “buy” rating to a “hold” rating in a report on Wednesday, February 4th. Citigroup upped their price objective on shares of Silicon Laboratories from $135.00 to $231.00 and gave the stock a “neutral” rating in a research report on Friday, February 6th. Finally, KeyCorp downgraded shares of Silicon Laboratories from an “overweight” rating to a “hold” rating in a report on Wednesday, February 4th. One analyst has rated the stock with a Buy rating, eight have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $167.78.

Silicon Laboratories Price Performance

The business has a fifty day simple moving average of $187.20 and a 200 day simple moving average of $152.05. The firm has a market cap of $6.83 billion, a price-to-earnings ratio of -104.12 and a beta of 1.46.

Silicon Laboratories (NASDAQ:SLAB) last released its earnings results on Wednesday, February 4th. The semiconductor company reported $0.56 earnings per share for the quarter, beating the consensus estimate of $0.54 by $0.02. The business had revenue of $208.21 million for the quarter, compared to the consensus estimate of $207.63 million. Silicon Laboratories had a negative return on equity of 4.07% and a negative net margin of 8.27%.The business’s quarterly revenue was up 25.3% compared to the same quarter last year. During the same quarter last year, the business posted ($0.11) earnings per share. On average, research analysts anticipate that Silicon Laboratories, Inc. will post -0.97 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Silicon Laboratories news, Director Nina Richardson sold 1,355 shares of Silicon Laboratories stock in a transaction on Tuesday, January 13th. The shares were sold at an average price of $149.00, for a total transaction of $201,895.00. Following the sale, the director owned 8,543 shares of the company’s stock, valued at $1,272,907. The trade was a 13.69% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 1.60% of the company’s stock.

Institutional Investors Weigh In On Silicon Laboratories

Hedge funds have recently modified their holdings of the business. Vident Advisory LLC boosted its position in Silicon Laboratories by 2.5% during the fourth quarter. Vident Advisory LLC now owns 3,018 shares of the semiconductor company’s stock worth $394,000 after acquiring an additional 74 shares during the last quarter. UMB Bank n.a. raised its holdings in Silicon Laboratories by 43.9% in the 3rd quarter. UMB Bank n.a. now owns 282 shares of the semiconductor company’s stock valued at $37,000 after acquiring an additional 86 shares during the last quarter. EverSource Wealth Advisors LLC raised its holdings in Silicon Laboratories by 45.7% in the 3rd quarter. EverSource Wealth Advisors LLC now owns 274 shares of the semiconductor company’s stock valued at $36,000 after acquiring an additional 86 shares during the last quarter. Bank of Montreal Can lifted its stake in Silicon Laboratories by 2.9% in the 4th quarter. Bank of Montreal Can now owns 3,355 shares of the semiconductor company’s stock worth $438,000 after purchasing an additional 96 shares in the last quarter. Finally, Inspire Investing LLC lifted its stake in Silicon Laboratories by 3.1% in the 4th quarter. Inspire Investing LLC now owns 3,585 shares of the semiconductor company’s stock worth $469,000 after purchasing an additional 109 shares in the last quarter.

About Silicon Laboratories

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.