Silicon Laboratories Inc. (SLAB): More Irrationality?

The stock of Silicon Laboratories Inc. (NASDAQ:SLAB) has been Initiated to Buy by The Benchmark Company in its latest research note that was published on July 23. SLAB was given a price target of $120, with other Wall Street analysts also giving their reports regarding the stock. Wells Fargo, analysts launched coverage of SLAB stock with a Outperform rating, according to their flash note to investors on June 25. Analysts at Cowen are sticking to their Outperform recommendation. However, on April 25, they lifted target price for these shares to $130 from $98.Analysts at Cowen, made their first call for the stock with a Outperform rating, according to a research note that dated back to April 25.

Silicon’s stock is covered by 12 analysts, with 4 of them rating the stock as Buy. It has been deemed to have strong buy by 3 of the analysts, 5 of them have rated it as a Hold while none of them rated it as sell. The situation was different a month ago when the stock was rated as a Buy by only 2 analysts. 3 of them rated it as strong buy with 6 of them recommended investors to Hold on to the stock. Meanwhile, none analyst(s) rated it as a sell. The above data shows that SLAB has an average analyst rating of 2.08.

Silicon Laboratories Inc., which has current market capitalization of above $5 Billion, published its last quarter earnings on June 30, 2019. The company was able to amass $206.71 million in revenue. This figure is $0.06 million more than what analysts had expected which was $206.65 million. During the first quarter of the year, Silicon also recorded $0.83 earnings per share (EPS) which is $0.09 above the $0.74 estimated by Thomson Reuter’s analyst, leading to a surprise factor of 11.87%.

SLAB surged by $4.70 during the normal trading session on Tuesday and reaching a high of $108.53 during the day while it closed the day at $107.86. The Silicon stock had a low trading volume of 0.27 million shares on that day, which is low compared to the average daily volume of 293.89M shares. SLAB has also gained 4.90% of its value over the past 7 days. However, the stock has surged by 10.09% in the 3 months of the year. Over the past six months meanwhile, it has gained 24.77% while it has added 36.86% year-on date. Let us now take a look at the stock’s potential support and resistance levels. The publicly traded company was seen to have slipped by -6.44% from its 3 months high price. However, taking another look at SLAB will indicate that it is trading +18.74% away from its 90-day low. Looking at the bigger picture, the Silicon Laboratories Inc. stock has dropped by -6.44% from its 52-week high while it has surged by +47.49% from its 52-week low price.

On July 01, 2019 BOCK WILLIAM G, Director sold 1000 shares of the company. The average price for that transaction was $105.61 per share, which meant that BOCK WILLIAM G earned $105610 selling the stocks. The sale was made public, with the document of the transaction filed with the SEC. Another insider trading occurred, with Director, LAZAR JACK R selling 750 shares of this stock on April 25, 2019. The average selling price for the stock was $109.75 per share, with the sold stock accruing $82312.5. Following this transaction, the Director LAZAR JACK R now holds 5972 shares of the company, which is worth around $620072.8.

Looking at the stock’s Technical analysis information over the past 50 days shows that its Raw Stochastic average stood at 63.63%. This figure is better than the company’s 20-day Raw Stochastic average which currently stands at 50.05%. Over the past 20 days, Silicon’s Stochastic %K stood at 35.35% while its Stochastic %D was revealed to be 35.27%.