Silicon Laboratories’ (SLAB) Buy Rating Reiterated at Benchmark

Benchmark restated their buy rating on shares of Silicon Laboratories (NASDAQ:SLAB) in a research report report published on Wednesday,Benzinga reports. The brokerage currently has a $160.00 target price on the semiconductor company’s stock.

Several other equities research analysts also recently weighed in on SLAB. KeyCorp upped their target price on shares of Silicon Laboratories from $115.00 to $160.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 22nd. Stifel Nicolaus increased their price objective on shares of Silicon Laboratories from $135.00 to $145.00 and gave the company a “buy” rating in a research report on Monday, January 6th. Barclays increased their price objective on shares of Silicon Laboratories from $75.00 to $120.00 and gave the company an “equal weight” rating in a research report on Friday, January 17th. StockNews.com downgraded shares of Silicon Laboratories from a “hold” rating to a “sell” rating in a research report on Friday, February 28th. Finally, Susquehanna started coverage on shares of Silicon Laboratories in a research report on Tuesday, December 17th. They issued a “neutral” rating and a $130.00 price objective on the stock. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $136.20.

Silicon Laboratories Stock Up 2.7 %

Shares of SLAB opened at $124.25 on Wednesday. Silicon Laboratories has a fifty-two week low of $94.00 and a fifty-two week high of $160.00. The firm’s 50 day moving average price is $138.51 and its 200 day moving average price is $122.79. The company has a market cap of $4.03 billion, a P/E ratio of -20.92 and a beta of 1.15.

Silicon Laboratories (NASDAQ:SLAB) last announced its earnings results on Tuesday, February 4th. The semiconductor company reported ($0.11) earnings per share for the quarter, hitting the consensus estimate of ($0.11). Silicon Laboratories had a negative net margin of 32.69% and a negative return on equity of 10.46%. The firm had revenue of $166.25 million for the quarter, compared to the consensus estimate of $166.09 million. During the same period in the prior year, the firm earned ($1.19) EPS. The firm’s revenue for the quarter was up 91.4% on a year-over-year basis. Research analysts forecast that Silicon Laboratories will post -0.97 earnings per share for the current year.

Insider Activity

In other news, Director William G. Bock sold 2,000 shares of the company’s stock in a transaction on Wednesday, January 22nd. The shares were sold at an average price of $140.77, for a total value of $281,540.00. Following the completion of the transaction, the director now owns 32,115 shares in the company, valued at approximately $4,520,828.55. This represents a 5.86 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Navdeep S. Sooch sold 2,360 shares of the company’s stock in a transaction on Wednesday, February 5th. The shares were sold at an average price of $149.00, for a total transaction of $351,640.00. Following the completion of the transaction, the director now owns 400,567 shares of the company’s stock, valued at approximately $59,684,483. The trade was a 0.59 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 5,360 shares of company stock worth $782,610. Corporate insiders own 1.72% of the company’s stock.

Institutional Trading of Silicon Laboratories

A number of large investors have recently bought and sold shares of SLAB. US Bancorp DE boosted its stake in Silicon Laboratories by 14.0% during the 3rd quarter. US Bancorp DE now owns 1,892 shares of the semiconductor company’s stock worth $219,000 after purchasing an additional 232 shares during the period. Van ECK Associates Corp acquired a new stake in Silicon Laboratories during the 3rd quarter worth $189,000. State of New Jersey Common Pension Fund D boosted its stake in Silicon Laboratories by 9.7% during the 3rd quarter. State of New Jersey Common Pension Fund D now owns 16,716 shares of the semiconductor company’s stock worth $1,932,000 after purchasing an additional 1,474 shares during the period. Pier 88 Investment Partners LLC lifted its stake in shares of Silicon Laboratories by 21.8% in the 3rd quarter. Pier 88 Investment Partners LLC now owns 5,872 shares of the semiconductor company’s stock worth $679,000 after acquiring an additional 1,050 shares during the period. Finally, Zions Bancorporation N.A. lifted its stake in shares of Silicon Laboratories by 18.8% in the 3rd quarter. Zions Bancorporation N.A. now owns 11,962 shares of the semiconductor company’s stock worth $1,382,000 after acquiring an additional 1,889 shares during the period.

Silicon Laboratories Company Profile

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.