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

Silicon Laboratories Inc. (NASDAQ:SLAB) was the recipient of a significant growth in short interest in the month of August. As of August 31st, there was short interest totalling 1,220,000 shares, a growth of 25.6% from the August 15th total of 971,100 shares. Approximately 3.9% of the shares of the company are short sold. Based on an average trading volume of 327,100 shares, the short-interest ratio is currently 3.7 days.

Wall Street Analysts Forecast Growth

SLAB has been the topic of several research analyst reports. KeyCorp decreased their price objective on shares of Silicon Laboratories from $200.00 to $180.00 and set an “overweight” rating on the stock in a research report on Thursday, July 27th. StockNews.com began coverage on Silicon Laboratories in a research report on Thursday, August 17th. They issued a “hold” rating for the company. Raymond James started coverage on shares of Silicon Laboratories in a research report on Friday, July 7th. They set a “market perform” rating on the stock. Finally, Citigroup lowered their price objective on shares of Silicon Laboratories from $165.00 to $148.00 and set a “neutral” rating for the company in a report on Friday, July 28th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $167.50.

Insider Activity

In related news, CEO Robert Matthew Johnson sold 3,498 shares of the stock in a transaction dated Wednesday, August 2nd. The stock was sold at an average price of $144.06, for a total transaction of $503,921.88. Following the sale, the chief executive officer now owns 38,263 shares of the company’s stock, valued at approximately $5,512,167.78. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 1.96% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the stock. HighTower Advisors LLC boosted its position in Silicon Laboratories by 17.4% during the 1st quarter. HighTower Advisors LLC now owns 1,421 shares of the semiconductor company’s stock valued at $214,000 after acquiring an additional 211 shares in the last quarter. PNC Financial Services Group Inc. raised its holdings in Silicon Laboratories by 12.8% in the first quarter. PNC Financial Services Group Inc. now owns 5,094 shares of the semiconductor company’s stock worth $766,000 after purchasing an additional 580 shares in the last quarter. Natixis Advisors L.P. lifted its position in Silicon Laboratories by 2.5% during the first quarter. Natixis Advisors L.P. now owns 12,997 shares of the semiconductor company’s stock valued at $1,952,000 after buying an additional 319 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its holdings in shares of Silicon Laboratories by 5.1% during the 1st quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 13,999 shares of the semiconductor company’s stock valued at $2,103,000 after buying an additional 675 shares in the last quarter. Finally, Great West Life Assurance Co. Can grew its holdings in Silicon Laboratories by 13.1% in the first quarter. Great West Life Assurance Co. Can now owns 23,361 shares of the semiconductor company’s stock worth $3,615,000 after purchasing an additional 2,701 shares during the period.

Silicon Laboratories Stock Down 1.0 %

Shares of Silicon Laboratories stock traded down $1.21 during trading on Friday, reaching $121.73. 1,677,770 shares of the stock were exchanged, compared to its average volume of 338,191. The firm has a market cap of $3.88 billion, a price-to-earnings ratio of 57.97 and a beta of 1.11. Silicon Laboratories has a 1 year low of $109.44 and a 1 year high of $194.68. The stock’s fifty day moving average is $141.08 and its 200 day moving average is $151.44.

Silicon Laboratories (NASDAQ:SLAB) last issued its quarterly earnings data on Wednesday, July 26th. The semiconductor company reported $0.59 earnings per share for the quarter, missing analysts’ consensus estimates of $0.65 by ($0.06). The business had revenue of $244.87 million during the quarter, compared to the consensus estimate of $243.32 million. Silicon Laboratories had a return on equity of 7.36% and a net margin of 7.00%. Equities analysts forecast that Silicon Laboratories will post 1.99 earnings per share for the current year.

Silicon Laboratories Company Profile

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 Internet of Things (IoT), including connected home and security, industrial automation and control, smart metering, smart lighting, commercial building automation, consumer electronics, asset tracking, and medical instrumentation.