Silicon Laboratories (NASDAQ:SLAB) Earns “Buy” Rating from Benchmark

Silicon Laboratories (NASDAQ:SLAB)‘s stock had its “buy” rating reissued by Benchmark in a research report issued to clients and investors on Wednesday,Benzinga reports. They presently have a $160.00 price objective on the semiconductor company’s stock. Benchmark’s price objective would indicate a potential upside of 32.25% from the company’s current price.

A number of other research analysts also recently commented on the company. Needham & Company LLC reaffirmed a “buy” rating and issued a $150.00 price target on shares of Silicon Laboratories in a research note on Wednesday. StockNews.com cut shares of Silicon Laboratories from a “hold” rating to a “sell” rating in a research report on Friday, February 28th. KeyCorp increased their price target on shares of Silicon Laboratories from $115.00 to $160.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 22nd. Barclays boosted their price objective 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, Stifel Nicolaus raised their target price on Silicon Laboratories from $135.00 to $145.00 and gave the company a “buy” rating in a report on Monday, January 6th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and six have given a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $136.20.

Silicon Laboratories Stock Performance

SLAB stock opened at $120.98 on Wednesday. Silicon Laboratories has a 52 week low of $94.00 and a 52 week high of $160.00. The company has a market capitalization of $3.93 billion, a PE ratio of -20.37 and a beta of 1.15. The company’s 50-day simple moving average is $138.66 and its 200 day simple moving average is $122.76.

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

Insider Buying and Selling

In other news, Director Navdeep S. Sooch sold 2,360 shares of Silicon Laboratories stock in a transaction on Wednesday, February 5th. The shares were sold at an average price of $149.00, for a total transaction of $351,640.00. Following the transaction, the director now owns 400,567 shares in the company, valued at approximately $59,684,483. The trade was a 0.59 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director William G. Bock sold 1,000 shares of the stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $149.43, for a total value of $149,430.00. Following the completion of the sale, 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 ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 5,360 shares of company stock worth $782,610 in the last 90 days. Insiders own 1.72% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of SLAB. Jones Financial Companies Lllp raised its position in shares of Silicon Laboratories by 44.5% during the fourth quarter. Jones Financial Companies Lllp now owns 224 shares of the semiconductor company’s stock worth $28,000 after acquiring an additional 69 shares during the last quarter. Advisors Asset Management Inc. increased its position in Silicon Laboratories by 159.4% during the 3rd quarter. Advisors Asset Management Inc. now owns 275 shares of the semiconductor company’s stock valued at $32,000 after purchasing an additional 169 shares during the period. Headlands Technologies LLC bought a new position in Silicon Laboratories during the 4th quarter worth approximately $70,000. Venturi Wealth Management LLC lifted its position in shares of Silicon Laboratories by 207.0% in the 4th quarter. Venturi Wealth Management LLC now owns 786 shares of the semiconductor company’s stock worth $98,000 after purchasing an additional 530 shares during the period. Finally, Asset Management One Co. Ltd. bought a new stake in shares of Silicon Laboratories in the 4th quarter valued at $117,000.

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.