Silicon Laboratories (NASDAQ:SLAB) Price Target Raised to $150.00

Silicon Laboratories (NASDAQ:SLAB) had its target price hoisted by Needham & Company LLC from $140.00 to $150.00 in a research report sent to investors on Wednesday morning,Benzinga reports. They currently have a buy rating on the semiconductor company’s stock.

A number of other research firms have also recently commented on SLAB. Barclays upped their price target 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. Morgan Stanley cut their price objective 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. StockNews.com raised shares of Silicon Laboratories to a “sell” rating in a research report on Friday, November 8th. KeyCorp lifted 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. Finally, JPMorgan Chase & Co. lowered their target price on shares of Silicon Laboratories from $150.00 to $135.00 and set an “overweight” rating for the company in a research note on Tuesday, November 5th. Six investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $136.20.

Silicon Laboratories Stock Down 3.2 %

Silicon Laboratories stock opened at $142.66 on Wednesday. The company has a market cap of $4.63 billion, a price-to-earnings ratio of -19.28 and a beta of 1.16. The firm’s fifty day moving average is $129.76 and its 200 day moving average is $117.13. Silicon Laboratories has a 52-week low of $94.00 and a 52-week high of $154.91.

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

Insider Activity at Silicon Laboratories

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 transaction of $281,540.00. Following the completion of the sale, the director now owns 32,115 shares of the company’s stock, valued at $4,520,828.55. This represents a 5.86 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Navdeep S. Sooch sold 2,360 shares of the company’s stock in a transaction on Wednesday, February 5th. The stock was sold at an average price of $149.00, for a total transaction of $351,640.00. Following the sale, the director now directly 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 disclosure for this sale can be found here. Company insiders own 1.72% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of SLAB. Jones Financial Companies Lllp lifted its position in Silicon Laboratories by 44.5% in the fourth quarter. Jones Financial Companies Lllp now owns 224 shares of the semiconductor company’s stock valued at $28,000 after buying an additional 69 shares during the last quarter. Advisors Asset Management Inc. lifted its position in shares of Silicon Laboratories by 159.4% during the third quarter. Advisors Asset Management Inc. now owns 275 shares of the semiconductor company’s stock worth $32,000 after purchasing an additional 169 shares in the last quarter. GAMMA Investing LLC lifted its position in shares of Silicon Laboratories by 84.1% during the third quarter. GAMMA Investing LLC now owns 497 shares of the semiconductor company’s stock worth $57,000 after purchasing an additional 227 shares in the last quarter. International Assets Investment Management LLC increased its stake in shares of Silicon Laboratories by 11,457.1% during the third quarter. International Assets Investment Management LLC now owns 809 shares of the semiconductor company’s stock worth $93,000 after buying an additional 802 shares during the period. Finally, Venturi Wealth Management LLC increased its stake in shares of Silicon Laboratories by 207.0% during the fourth quarter. Venturi Wealth Management LLC now owns 786 shares of the semiconductor company’s stock worth $98,000 after buying an additional 530 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.