Silicon Laboratories (NASDAQ:SLAB) Rating Lowered to Sell at StockNews.com

StockNews.com cut shares of Silicon Laboratories (NASDAQ:SLAB) from a hold rating to a sell rating in a research report sent to investors on Thursday.

Other analysts have also issued research reports about the stock. Barclays upped their price objective on shares of Silicon Laboratories from $75.00 to $120.00 and gave the stock an “equal weight” rating in a report on Friday, January 17th. Susquehanna initiated coverage on shares of Silicon Laboratories in a research report on Tuesday, December 17th. They issued a “neutral” rating and a $130.00 price target on the stock. Benchmark reissued a “buy” rating and set a $160.00 price objective on shares of Silicon Laboratories in a report on Wednesday, March 12th. KeyCorp increased their price objective on Silicon Laboratories from $115.00 to $160.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 22nd. Finally, Needham & Company LLC reiterated a “buy” rating and set a $150.00 price target on shares of Silicon Laboratories in a report on Wednesday, March 12th. 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 stock. Based on data from MarketBeat, Silicon Laboratories has a consensus rating of “Hold” and a consensus price target of $136.20.

Silicon Laboratories Trading Down 1.5 %

SLAB opened at $119.57 on Thursday. The company has a fifty day moving average price of $137.08 and a two-hundred day moving average price of $123.48. Silicon Laboratories has a 1-year low of $94.00 and a 1-year high of $160.00. The company has a market cap of $3.88 billion, a P/E ratio of -20.13 and a beta of 1.15.

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

Insider Transactions at Silicon Laboratories

In other Silicon Laboratories news, Director Navdeep S. Sooch sold 2,360 shares of the business’s stock in a transaction on Wednesday, February 5th. The stock was sold at an average price of $149.00, for a total value of $351,640.00. Following the sale, the director now directly owns 400,567 shares in the company, valued at $59,684,483. The trade was a 0.59 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director William G. Bock sold 1,000 shares of the stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $149.43, for a total value of $149,430.00. Following the transaction, the director now owns 31,115 shares of the company’s stock, valued at $4,649,514.45. The trade was a 3.11 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 5,360 shares of company stock worth $782,610 in the last ninety days. Company insiders own 1.72% of the company’s stock.

Institutional Investors Weigh In On Silicon Laboratories

Several institutional investors have recently added to or reduced their stakes in the business. FMR LLC increased its stake in shares of Silicon Laboratories by 0.5% in 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 in the last quarter. Vanguard Group Inc. grew its stake in Silicon Laboratories by 1.9% in the 4th quarter. Vanguard Group Inc. now owns 3,959,580 shares of the semiconductor company’s stock valued at $491,859,000 after buying an additional 71,942 shares in the last quarter. Capital Research Global Investors raised its holdings in Silicon Laboratories by 23.3% during the 4th quarter. Capital Research Global Investors now owns 2,131,920 shares of the semiconductor company’s stock valued at $264,827,000 after acquiring an additional 403,010 shares during the period. Wellington Management Group LLP lifted its position in shares of 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 acquiring an additional 195,997 shares in the last quarter. Finally, Geode Capital Management LLC boosted its holdings in shares of Silicon Laboratories by 2.1% in the third quarter. Geode Capital Management LLC now owns 781,049 shares of the semiconductor company’s stock worth $90,282,000 after acquiring 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.