Silicon Laboratories Inc. (NASDAQ:SLAB) Receives Average Rating of “Moderate Buy” from Brokerages

Shares of Silicon Laboratories Inc. (NASDAQ:SLAB) have been given an average rating of “Moderate Buy” by the ten research firms that are currently covering the company, Marketbeat.com reports. Five equities research analysts have rated the stock with a hold recommendation and five have issued a buy recommendation on the company. The average twelve-month price target among brokers that have covered the stock in the last year is $135.00.

SLAB has been the subject of several research reports. JPMorgan Chase & Co. cut their price objective on Silicon Laboratories from $165.00 to $150.00 and set an “overweight” rating for the company in a research report on Thursday, April 25th. Summit Insights downgraded Silicon Laboratories from a “buy” rating to a “hold” rating in a research report on Wednesday, April 24th. Benchmark restated a “hold” rating on shares of Silicon Laboratories in a research report on Thursday, April 25th. Needham & Company LLC reissued a “buy” rating and set a $150.00 price objective on shares of Silicon Laboratories in a research note on Thursday, July 25th. Finally, StockNews.com upgraded shares of Silicon Laboratories to a “sell” rating in a research report on Tuesday, July 23rd.

Insider Transactions at Silicon Laboratories

In related news, CEO Robert Matthew Johnson sold 7,230 shares of the stock in a transaction on Monday, June 3rd. The stock was sold at an average price of $123.80, for a total value of $895,074.00. Following the completion of the sale, the chief executive officer now directly owns 47,910 shares in the company, valued at approximately $5,931,258. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Insiders own 1.72% of the company’s stock.

Hedge Funds Weigh In On Silicon Laboratories

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Harbor Capital Advisors Inc. boosted its position in Silicon Laboratories by 8.5% in the 2nd quarter. Harbor Capital Advisors Inc. now owns 1,292 shares of the semiconductor company’s stock valued at $143,000 after buying an additional 101 shares during the last quarter. Orion Portfolio Solutions LLC lifted its position in shares of Silicon Laboratories by 1.1% during the first quarter. Orion Portfolio Solutions LLC now owns 9,858 shares of the semiconductor company’s stock worth $1,417,000 after purchasing an additional 103 shares during the last quarter. Victory Capital Management Inc. lifted its position in shares of Silicon Laboratories by 2.3% during the second quarter. Victory Capital Management Inc. now owns 6,638 shares of the semiconductor company’s stock worth $734,000 after purchasing an additional 150 shares during the last quarter. Coldstream Capital Management Inc. lifted its position in shares of Silicon Laboratories by 6.9% during the fourth quarter. Coldstream Capital Management Inc. now owns 2,431 shares of the semiconductor company’s stock worth $322,000 after purchasing an additional 157 shares during the last quarter. Finally, CWM LLC lifted its position in shares of Silicon Laboratories by 78.1% during the fourth quarter. CWM LLC now owns 374 shares of the semiconductor company’s stock worth $49,000 after purchasing an additional 164 shares during the last quarter.

Silicon Laboratories Trading Down 0.1 %

Shares of Silicon Laboratories stock opened at $104.30 on Monday. The company has a 50-day moving average of $112.45 and a two-hundred day moving average of $124.40. The stock has a market cap of $3.37 billion, a PE ratio of -31.51 and a beta of 1.19. Silicon Laboratories has a 12-month low of $74.56 and a 12-month high of $154.91.

Silicon Laboratories (NASDAQ:SLAB) last announced its quarterly earnings results on Wednesday, July 24th. The semiconductor company reported ($0.56) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.64) by $0.08. Silicon Laboratories had a negative return on equity of 9.13% and a negative net margin of 36.53%. The business had revenue of $145.40 million during the quarter, compared to analysts’ expectations of $140.18 million. During the same quarter last year, the business posted $0.59 earnings per share. The business’s revenue for the quarter was down 40.6% on a year-over-year basis. On average, sell-side analysts forecast that Silicon Laboratories will post -3.4 EPS for the current fiscal year.

About Silicon Laboratories

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 industrial Internet of Things (IoT), including industrial automation and control, smart buildings, access control, HVAC control, and industrial wearables and power tools; smart cities applications, such as smart metering, smart street lighting, renewable energy, electric vehicle supply equipment, and smart agriculture; commercial IoT applications, including smart lighting, asset tracking, electronic shelf labels, theft protection, and enterprise access points; smart home applications, comprising home automation/security systems, smart speakers, smart lighting, HVAC control, smart cameras, smart appliances, smart home sensing, smart locks, and window/blind controls; and connected health applications, including diabetes management, consumer health and fitness, elderly care, patient monitoring, and activity tracking; as well as in commercial building automation, consumer electronics, and medical instrumentation.