Silicon Laboratories Inc. (NASDAQ: SLAB) stock fell -2.00% on Wednesday to $135.73 against a previous-day closing price of $138.50. With 0.57 million shares changed hands, the volume of the stock remained heavier than its average volume of 0.57 million shares. During the session, the Semiconductors company that operates in wider Technology sector, reached to the highest price of $137.20 whereas the lowest price it dropped to was $133.87. The 52-week range on SLAB shows that it touched its highest point at $194.68 and its lowest point at $109.44 during that stretch. It currently has a 1-year price target of $174.86. Beta for the stock currently stands at 1.08.
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Price Performance and Earnings:
Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of SLAB was down-trending over the past week, with a drop of -2.51%, but this was down by -13.03% over a month. Three-month performance dropped to -23.05% while six-month performance fell -1.39%. The stock lost -2.41% in the past year, while it has gained 0.04% so far this year. A look at the trailing 12-month EPS for SLAB yields 2.41 with Next year EPS estimates of 5.09. For the next quarter, that number is 1.03. This implies an EPS growth rate of 292.80% for this year and 16.47% for next year. EPS is expected to grow by 3.60% annually over the next five years; however, over the past five years, the company experienced an annual growth rate of 9.00%.
Float and Shares Shorts:
At present, 31.96 million SLAB shares are outstanding with a float of 31.22 million shares on hand for trading. On May 14, 2023, short shares totaled 2.82 million, which was 8.80% higher than short shares on Apr 13, 2023. In addition to Mr. Robert Matthew Johnson as the firm’s CEO, Pres & Director, Mr. John C. Hollister CPA serves as its Sr. VP & CFO.
Through their ownership of 105.77% of SLAB’s outstanding shares, institutional investors have majority control over the company. Other institutions hold 66.79% of SLAB, in contrast to 41.50% held by mutual funds. Shares owned by individuals account for 23.34%. As the largest shareholder in SLAB with 15.00% of the stake, Fidelity Management & Research Co holds 4,799,360 shares worth 4,799,360. A second-largest stockholder of SLAB, BlackRock Fund Advisors, holds 3,613,090 shares, controlling over 11.29% of the firm’s shares. The Vanguard Group, Inc. is the third largest shareholder in SLAB, holding 3,052,637 shares or 9.54% stake. With a 4.95% stake in SLAB, the Fidelity Growth Company Fund is the largest stakeholder. A total of 1,584,419 shares are owned by the mutual fund manager. The iShares Core S&P Mid Cap ETF, which owns about 3.11% of SLAB stock, is the second-largest Mutual Fund holder. It holds 995,415 shares valued at 138.66 million. Vanguard Total Stock Market ETF holds 2.94% of the stake in SLAB, owning 941,016 shares worth 131.08 million.
An Overview of Recent Financials:
Understanding a company as a customer does not mean you will understand it as an investor. The wise investor uses quantitative research to analyze metrics such as revenue, net income, and earnings. In its fiscal quarter reported on Mar 31, 2023, SLAB reported revenue of $263.15M and operating income of $31.38M. The EBITDA in the recently reported quarter was $49.07M and diluted EPS was $0.60.
Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for SLAB since 0 analysts follow the stock currently. In the same way, a target price assigned to a stock can also reveal much about its potential. With SLAB analysts setting a high price target of $209.00 and a low target of $100.00, the average target price over the next 12 months is $173.00. Based on these targets, SLAB could surge 53.98% to reach the target high and fall by -26.32% to reach the target low. Reaching the average price target will result in a growth of 27.46% from current levels.
EPS: Estimates vs Actual
It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy.
Summary of Insider Activity:
Insiders traded SLAB stock several times over the past three months with 4 Buys and 0 Sells. In these transactions, 525 shares were bought while 0 shares were sold. The number of buy transactions has increased to 12 while that of sell transactions has risen to 15 over the past year. The total number of shares bought during that period was 15,855 while 32,181 shares were sold.