Silicon Laboratories (NASDAQ:SLAB) Raised to Buy at Benchmark

Silicon Laboratories (NASDAQ:SLAB) was upgraded by analysts at Benchmark from a “hold” rating to a “buy” rating in a note issued to investors on Wednesday, MarketBeat reports. The firm presently has a $160.00 price objective on the semiconductor company’s stock. Benchmark’s price objective would indicate a potential upside of 8.55% from the company’s previous close.

A number of other research analysts have also recently commented on SLAB. StockNews.com upgraded shares of Silicon Laboratories to a “sell” rating in a research report on Friday, November 8th. Morgan Stanley reduced their price target on shares of Silicon Laboratories from $123.00 to $97.00 and set an “equal weight” rating on the stock in a research report on Tuesday, November 5th. Stifel Nicolaus increased their price target 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 target 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. Finally, Susquehanna began coverage on shares of Silicon Laboratories in a research report on Tuesday, December 17th. They set a “neutral” rating and a $130.00 price target on the stock. Six analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $136.20.

Silicon Laboratories Trading Down 1.1 %

Shares of Silicon Laboratories stock opened at $147.40 on Wednesday. Silicon Laboratories has a 12-month low of $94.00 and a 12-month high of $154.91. The company has a market cap of $4.78 billion, a price-to-earnings ratio of -19.92 and a beta of 1.16. The company’s 50-day moving average price is $129.12 and its 200-day moving average price is $116.96.

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, meeting analysts’ consensus estimates of ($0.11). The business had revenue of $166.25 million for the quarter, compared to the consensus estimate of $166.09 million. Silicon Laboratories had a negative net margin of 46.93% and a negative return on equity of 12.60%. Silicon Laboratories’s quarterly revenue was up 91.4% on a year-over-year basis. During the same period last year, the firm posted ($1.19) earnings per share. On average, sell-side analysts predict that Silicon Laboratories will post -3.56 earnings per share for the current year.

Insider Buying and Selling at Silicon Laboratories

In other news, Director Navdeep S. Sooch sold 2,360 shares of Silicon Laboratories stock in a transaction dated Wednesday, February 5th. The stock was sold at an average price of $149.00, for a total value of $351,640.00. Following the completion of the transaction, the director now owns 400,567 shares of the company’s stock, valued at $59,684,483. The trade was a 0.59 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director William G. Bock sold 2,000 shares of Silicon Laboratories stock in a transaction dated Wednesday, January 22nd. The stock was 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 directly owns 32,115 shares of the company’s stock, valued at approximately $4,520,828.55. This represents a 5.86 % decrease in their position. The disclosure for this sale can be found here. Insiders own 1.72% of the company’s stock.

Hedge Funds Weigh In On Silicon Laboratories

Several large investors have recently modified their holdings of SLAB. FMR LLC increased its holdings in Silicon Laboratories by 1.1% in the 3rd quarter. FMR LLC now owns 4,843,370 shares of the semiconductor company’s stock worth $559,748,000 after buying an additional 54,708 shares in the last quarter. Wellington Management Group LLP increased its holdings in Silicon Laboratories by 28.3% in the 3rd quarter. Wellington Management Group LLP now owns 888,382 shares of the semiconductor company’s stock worth $102,670,000 after buying an additional 195,997 shares in the last quarter. Geode Capital Management LLC increased its holdings in Silicon Laboratories by 2.1% in the 3rd quarter. Geode Capital Management LLC now owns 781,049 shares of the semiconductor company’s stock worth $90,282,000 after buying an additional 15,728 shares in the last quarter. GW&K Investment Management LLC increased its holdings in Silicon Laboratories by 5.6% in the 4th quarter. GW&K Investment Management LLC now owns 682,045 shares of the semiconductor company’s stock worth $84,723,000 after buying an additional 36,330 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its holdings in Silicon Laboratories by 5.3% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 439,796 shares of the semiconductor company’s stock worth $54,631,000 after buying an additional 21,991 shares in the last quarter.

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.