It is currently trading at $94.90 which is significantly higher than $84.28, the 50 day moving average and well above the 200 day moving average of $75.81. The 50 day moving average went up $10.62 or +12.60% and the 200 day average went up by +25.19%. 207K shares changed hands by the end of trading on Tuesday. Shares saw a steep decrease in trading volume of 10.23% under the normal average daily volume.
Investors are feeling more bullish on shares of Silicon Laboratories, Inc. lately if you take into consideration the decrease in short interest. The company recorded a fall in short interest of -1.83% between September 29, 2017 and October 13, 2017. Short interest fell 18,582 over that period. Days to cover decreased from 4.0 to 4.0 and the short interest percentage is 0.02% as of October 13.
Here is a rundown on some insider market activity for Silicon Laboratories, Inc. (NASDAQ:SLAB). Director William P. Wood disclosed the sale of 5,000 shares. The shares were sold on September 5th for an average price of $76.48. Wood now owns $1,945,804 of the stock according to the SEC filing. CEO George Tyson Tuttle sold 7,693 shares at a price of $80.01 on September 20th. That brings the CEO’s holdings to $15,776,852 as recorded in a recent Form 4 SEC filing.
CEO George Tyson Tuttle let go of 13,594 shares at an average price of $80.07 on Thu the 21st. The CEO now owns $14,700,211 of the stock as reported to the SEC.
The following firms have recently changed their position in SLAB. As of the end of the quarter Victory Capital Management Inc had disposed of a total of 2,305 shares trimming its holdings by 8.6%. The value of the company’s investment in Silicon Laboratories, Inc. increased from $1,831,000 to $1,956,000 a change of $125,000 quarter over quarter. As of quarter end First Trust Advisors Lp had sold 15,660 shares trimming its stake by 38.7%. The value in dollars went from $2,767,000 to $1,984,000 a change of 28.3% for the reporting period.
As of the end of the quarter Nationwide Fund Advisors had sold a total of 838 shares trimming its position 0.7%. The value of the investment in (SLAB) went from $8,252,000 to $9,579,000 increasing 16.1% since the last quarter. As of quarter end Aperio Group, LLC had acquired a total of 432 shares growing its stake by 9.1%. The value of the investment in SLAB went from $323,000 to $412,000 a change of 27.6% quarter to quarter.
On October 10 Canaccord Genuity held the company rating at “Buy” and moved up the price target from $58.00 to $95.00. October 12 investment analysts at Stifel Nicolaus kept the company rating at “Buy” but raised the price expectation to $95.00 from $58.00.
October 26 investment analysts at Canaccord Genuity made no change to the company rating of “Buy” and raised the price target from $95.00 to $98.00. On October 26 B. Riley made no change to the stock rating of “Buy” but raised the price target to $115.00 from $59.00.
The company currently has a P/E ratio of 56.59 and the market cap is 4.04B. As of the last earnings report the EPS was $1.68 and is estimated to be $3.19 for the current year with 42,546,000 shares outstanding. Analysts expect next quarter’s EPS to be $0.76 with next year’s EPS projected to be $3.54.
Silicon Laboratories Inc., launched on August 19, 1996, is a provider of silicon, software and solutions for the Internet of Things (IoT), Internet infrastructure, industrial, consumer and automotive markets. The Company operates through mixed-signal analog intensive products segment. The Company provides analog-intensive, mixed-signal solutions for use in a range of electronic products in various applications for the IoT market..