StockNews.com Upgrades Silicon Laboratories (NASDAQ:SLAB) to Hold

Silicon Laboratories (NASDAQ:SLAB) was upgraded by research analysts at StockNews.com from a “sell” rating to a “hold” rating in a report released on Thursday.

Several other equities research analysts have also issued reports on the company. KeyCorp lifted 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. Susquehanna began coverage on Silicon Laboratories in a research note on Tuesday, December 17th. They issued a “neutral” rating and a $130.00 target price for the company. Needham & Company LLC upped their price target on shares of Silicon Laboratories from $140.00 to $150.00 and gave the company a “buy” rating in a report on Wednesday. Barclays raised their target price on Silicon Laboratories from $75.00 to $120.00 and gave the stock an “equal weight” rating in a research note on Friday, January 17th. Finally, JPMorgan Chase & Co. lowered their price target on Silicon Laboratories from $150.00 to $135.00 and set an “overweight” rating for the company in a research report on Tuesday, November 5th. Six analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $136.20.

Silicon Laboratories Stock Performance

SLAB stock opened at $142.66 on Thursday. Silicon Laboratories has a fifty-two week low of $94.00 and a fifty-two week high of $154.91. The stock’s 50 day simple moving average is $129.76 and its 200 day simple moving average is $117.13. The company has a market cap of $4.63 billion, a P/E ratio of -19.28 and a beta of 1.16.

Silicon Laboratories (NASDAQ:SLAB) last announced its earnings results on Tuesday, February 4th. The semiconductor company reported ($0.11) EPS for the quarter, meeting the consensus estimate of ($0.11). The company had revenue of $166.25 million during 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%. The firm’s revenue for the quarter was up 91.4% on a year-over-year basis. During the same quarter in the prior year, the company posted ($1.19) earnings per share. Equities analysts predict that Silicon Laboratories will post -3.56 earnings per share for the current year.

Insider Activity

In other Silicon Laboratories news, Director Navdeep S. Sooch sold 2,360 shares of the 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 completion of the transaction, the director now owns 400,567 shares in the company, valued at approximately $59,684,483. This represents a 0.59 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director William G. Bock sold 2,000 shares of the business’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 sale, the director now owns 32,115 shares in the company, valued at approximately $4,520,828.55. This trade represents a 5.86 % decrease in their position. The disclosure for this sale can be found here. 1.72% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Silicon Laboratories

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Jones Financial Companies Lllp grew its stake in shares of Silicon Laboratories by 44.5% in the 4th quarter. Jones Financial Companies Lllp now owns 224 shares of the semiconductor company’s stock worth $28,000 after buying an additional 69 shares during the last quarter. Advisors Asset Management Inc. increased its holdings 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 valued at $32,000 after acquiring an additional 169 shares in the last quarter. GAMMA Investing LLC raised its position in shares of Silicon Laboratories by 84.1% in the 3rd quarter. GAMMA Investing LLC now owns 497 shares of the semiconductor company’s stock worth $57,000 after purchasing an additional 227 shares during the last quarter. International Assets Investment Management LLC boosted its stake in Silicon Laboratories by 11,457.1% in the 3rd quarter. International Assets Investment Management LLC now owns 809 shares of the semiconductor company’s stock worth $93,000 after purchasing an additional 802 shares in the last quarter. Finally, Venturi Wealth Management LLC grew its position in Silicon Laboratories by 207.0% during the 4th quarter. Venturi Wealth Management LLC now owns 786 shares of the semiconductor company’s stock valued at $98,000 after purchasing an additional 530 shares during the last quarter.

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.