Silicon Laboratories (SLAB): The stock had negative money flow to the tune of ($2.2 million) on Tuesday, which shows that the traders are selling the stock on the price strength. The inflow of money on upticks was $0.52 million, whereas, the outflow of money on downticks was $2.73 million and the ratio between the two was 0.19. The block trade had a negative net money flow of ($2.29 million). On the other hand, downticks amounted to $2.29 million of the traded value, which shows distribution in the stock by traders. Silicon Laboratories (SLAB) closed with marginal gains of 10 cents to end the day at $57.78, an increase of 0.17% over the previous days close. The stock recorded 0.47% for the week.
Also, Equity analysts at the Brokerage firm Citigroup maintains its rating on Silicon Laboratories (NASDAQ:SLAB). The rating major has initiated the coverage with buy rating on the shares. The Analysts at Citigroup raises the price target from $56 per share to $63 per share. The rating by the firm was issued on July 28, 2016.
Shares of Silicon Laboratories Inc. rose by 3.22% in the last five trading days and 6.72% for the last 4 weeks. Silicon Laboratories Inc. is up 14.39% in the last 3-month period. Year-to-Date the stock performance stands at 18.11%.
Silicon Laboratories (NASDAQ:SLAB): The stock opened at $57.78 on Tuesday but the bulls could not build on the opening and the stock topped out at $58.19 for the day. The stock traded down to $57.07 during the day, due to lack of any buying support eventually closed down at $57.33 with a loss of -0.61% for the day. The stock had closed at $57.68 on the previous day. The total traded volume was 233,721 shares.
In a related news,The director of Silicon Laboratories Inc, Bock William G sold 3,000 shares at $54.16 on August 15, 2016. The Insider selling transaction had a total value worth of $162,480. The Insider information was disclosed with the Securities and Exchange Commission in a Form 4 filing.
Silicon Laboratories Inc. designs and develops analog-intensive, mixed-signal integrated circuits for a range of applications. The Company provides analog-intensive, mixed-signal solutions for use in a variety of electronic products, including portable devices, amplitude modulation/frequency modulation radios and other consumer electronics, networking equipment, test and measurement equipment, industrial monitoring and control, home automation and customer premises equipment. Its products integrate mixed-signal functions performed by discrete components into a single chip. It offers products in three categories: Broad-based products, Broadcast products and Access products. The Broad-based products include microcontroller, wireless and sensor products, timing products, and power and isolation devices. Its Broadcast products include broadcast audio and video products. Its Access products include voice over internet protocol products, embedded modems and power over Ethernet devices.