Silicon Laboratories, Inc. (NASDAQ:SLAB) Short Interest Update

Silicon Laboratories, Inc. (NASDAQ:SLAB) saw a significant drop in short interest during the month of March. As of March 13th, there was short interest totaling 1,301,074 shares, a drop of 22.0% from the February 26th total of 1,668,917 shares. Currently, 4.0% of the shares of the company are short sold. Based on an average daily volume of 760,600 shares, the days-to-cover ratio is presently 1.7 days.

Silicon Laboratories Stock Down 0.4%

NASDAQ SLAB opened at $205.93 on Friday. The firm has a market cap of $6.79 billion, a P/E ratio of -103.48 and a beta of 1.46. Silicon Laboratories has a 52-week low of $82.82 and a 52-week high of $208.84. The business’s 50-day moving average price is $190.58 and its 200 day moving average price is $153.43.

Silicon Laboratories (NASDAQ:SLAB) last released its quarterly earnings results on Wednesday, February 4th. The semiconductor company reported $0.56 EPS for the quarter, topping the consensus estimate of $0.54 by $0.02. Silicon Laboratories had a negative return on equity of 4.07% and a negative net margin of 8.27%.The firm had revenue of $208.21 million for the quarter, compared to analyst estimates of $207.63 million. During the same period in the previous year, the company posted ($0.11) EPS. Silicon Laboratories’s revenue for the quarter was up 25.3% on a year-over-year basis. As a group, analysts anticipate that Silicon Laboratories will post -0.97 earnings per share for the current year.

Insider Activity

In other news, Director Nina Richardson sold 1,355 shares of Silicon Laboratories stock in a transaction dated Tuesday, January 13th. The stock was 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 in the company, valued at approximately $1,272,907. The trade was a 13.69% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 1.60% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in SLAB. Vident Advisory LLC grew its holdings in Silicon Laboratories by 2.5% during the 4th quarter. Vident Advisory LLC now owns 3,018 shares of the semiconductor company’s stock valued at $394,000 after purchasing an additional 74 shares in the last quarter. UMB Bank n.a. lifted 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 worth $37,000 after buying an additional 86 shares in the last quarter. EverSource Wealth Advisors LLC boosted its position 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 buying an additional 86 shares during the last quarter. Bank of Montreal Can boosted its position 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 valued at $438,000 after buying an additional 96 shares during the last quarter. Finally, Inspire Investing LLC grew its stake in shares of Silicon Laboratories by 3.1% during the fourth quarter. Inspire Investing LLC now owns 3,585 shares of the semiconductor company’s stock valued at $469,000 after acquiring an additional 109 shares in the last quarter.

Wall Street Analyst Weigh In

SLAB has been the subject of a number of research analyst reports. Weiss Ratings reissued a “sell (d-)” rating on shares of Silicon Laboratories in a research report on Monday, December 29th. Benchmark cut Silicon Laboratories from a “buy” rating to a “hold” rating in a research note on Wednesday, February 4th. KeyCorp downgraded Silicon Laboratories from an “overweight” rating to a “hold” rating in a report on Wednesday, February 4th. Needham & Company LLC lowered shares of Silicon Laboratories from a “buy” rating to a “hold” rating in a research report on Wednesday, February 4th. Finally, Citigroup upped their price target on shares of Silicon Laboratories from $135.00 to $231.00 and gave the company a “neutral” rating in a research report on Friday, February 6th. One investment 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. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $167.78.

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.