Silicon Laboratories’ (SLAB) “Buy” Rating Reiterated at Needham & Company LLC

Needham & Company LLC reissued their buy rating on shares of Silicon Laboratories (NASDAQ:SLAB) in a research note published on Wednesday morning,Benzinga reports. The firm currently has a $150.00 price target on the semiconductor company’s stock.

SLAB has been the topic of several other reports. Barclays increased their target price on shares of Silicon Laboratories from $75.00 to $120.00 and gave the stock an “equal weight” rating in a research report on Friday, January 17th. Benchmark raised shares of Silicon Laboratories from a “hold” rating to a “buy” rating and set a $160.00 target price on the stock in a research report on Wednesday, February 5th. Stifel Nicolaus increased their target price on shares of Silicon Laboratories from $135.00 to $145.00 and gave the stock a “buy” rating in a research report on Monday, January 6th. Susquehanna assumed coverage on shares of Silicon Laboratories in a research report on Tuesday, December 17th. They set a “neutral” rating and a $130.00 target price on the stock. Finally, KeyCorp increased their target price on shares of Silicon Laboratories from $115.00 to $160.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 22nd. One analyst has rated the stock with a sell rating, five have assigned a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, Silicon Laboratories presently has an average rating of “Hold” and an average target price of $136.20.

Silicon Laboratories Stock Up 2.7 %

SLAB opened at $124.25 on Wednesday. The stock has a fifty day moving average of $138.51 and a 200-day moving average of $122.79. The firm has a market capitalization of $4.03 billion, a P/E ratio of -20.92 and a beta of 1.15. Silicon Laboratories has a 12-month low of $94.00 and a 12-month high of $160.00.

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

Insider Activity at Silicon Laboratories

In related news, Director William G. Bock sold 1,000 shares of the stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $149.43, for a total value of $149,430.00. Following the completion of the sale, the director now owns 31,115 shares in the company, valued at approximately $4,649,514.45. This trade represents a 3.11 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Navdeep S. Sooch sold 2,360 shares of the stock in a transaction dated 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 sale, 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. Over the last 90 days, insiders sold 5,360 shares of company stock worth $782,610. Company insiders own 1.72% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. FMR LLC lifted its stake in Silicon Laboratories by 0.5% during the fourth quarter. FMR LLC now owns 4,867,203 shares of the semiconductor company’s stock worth $604,604,000 after purchasing an additional 23,833 shares during the period. Vanguard Group Inc. lifted its stake in Silicon Laboratories by 1.9% during the fourth quarter. Vanguard Group Inc. now owns 3,959,580 shares of the semiconductor company’s stock worth $491,859,000 after purchasing an additional 71,942 shares during the period. Capital Research Global Investors lifted its stake in Silicon Laboratories by 23.3% during the fourth quarter. Capital Research Global Investors now owns 2,131,920 shares of the semiconductor company’s stock worth $264,827,000 after purchasing an additional 403,010 shares during the period. Wellington Management Group LLP lifted its stake in Silicon Laboratories by 28.3% during the third quarter. Wellington Management Group LLP now owns 888,382 shares of the semiconductor company’s stock worth $102,670,000 after purchasing an additional 195,997 shares during the period. Finally, Geode Capital Management LLC lifted its stake in Silicon Laboratories by 2.1% during the third quarter. Geode Capital Management LLC now owns 781,049 shares of the semiconductor company’s stock worth $90,282,000 after purchasing an additional 15,728 shares during the period.

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.