Silicon Laboratories (NASDAQ:SLAB) Rating Increased to Hold at StockNews.com

StockNews.com upgraded shares of Silicon Laboratories (NASDAQ:SLAB) from a sell rating to a hold rating in a research note published on Tuesday.

A number of other research analysts also recently issued reports on SLAB. KeyCorp boosted their price objective on Silicon Laboratories from $115.00 to $160.00 and gave the company an “overweight” rating in a research note on Wednesday, January 22nd. Barclays boosted their price target on Silicon Laboratories from $75.00 to $120.00 and gave the company an “equal weight” rating in a research note on Friday, January 17th. Stifel Nicolaus raised their price objective 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. Benchmark reiterated a “buy” rating and set a $160.00 target price on shares of Silicon Laboratories in a research report on Wednesday, March 12th. Finally, Needham & Company LLC restated a “buy” rating and issued a $150.00 price target on shares of Silicon Laboratories in a report on Wednesday, March 12th. Six equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $136.20.

Silicon Laboratories Stock Performance

NASDAQ:SLAB opened at $125.24 on Tuesday. The company has a market capitalization of $4.07 billion, a PE ratio of -21.08 and a beta of 1.15. Silicon Laboratories has a fifty-two week low of $94.00 and a fifty-two week high of $160.00. The company has a 50 day simple moving average of $138.33 and a two-hundred day simple moving average of $122.98.

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

Insider Transactions at Silicon Laboratories

In related news, Director William G. Bock sold 1,000 shares of the company’s stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $149.43, for a total transaction 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 represents a 3.11 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Navdeep S. Sooch sold 2,360 shares of the firm’s stock in a transaction on Wednesday, February 5th. The shares were sold at an average price of $149.00, for a total value of $351,640.00. Following the transaction, the director now owns 400,567 shares in the company, valued at approximately $59,684,483. This trade represents a 0.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 5,360 shares of company stock valued at $782,610 over the last three months. Corporate insiders own 1.72% of the company’s stock.

Institutional Investors Weigh In On Silicon Laboratories

Several institutional investors and hedge funds have recently added to or reduced their stakes in SLAB. Arizona State Retirement System grew its holdings in shares of Silicon Laboratories by 1.8% in the fourth quarter. Arizona State Retirement System now owns 9,360 shares of the semiconductor company’s stock valued at $1,163,000 after acquiring an additional 167 shares in the last quarter. Franklin Resources Inc. grew its stake in Silicon Laboratories by 1.9% in the 3rd quarter. Franklin Resources Inc. now owns 231,889 shares of the semiconductor company’s stock valued at $27,001,000 after purchasing an additional 4,278 shares during the period. Point72 Asset Management L.P. purchased a new stake in shares of Silicon Laboratories during the 3rd quarter valued at $7,408,000. Intech Investment Management LLC increased its position in shares of Silicon Laboratories by 82.9% during the 3rd quarter. Intech Investment Management LLC now owns 12,837 shares of the semiconductor company’s stock valued at $1,484,000 after purchasing an additional 5,818 shares during the last quarter. Finally, Barclays PLC raised its stake in shares of Silicon Laboratories by 23.4% during the 3rd quarter. Barclays PLC now owns 70,568 shares of the semiconductor company’s stock worth $8,157,000 after purchasing an additional 13,363 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.