Silicon Laboratories (NASDAQ:SLAB) Upgraded 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 issued to investors on Tuesday.

A number of other equities research analysts have also recently issued reports on SLAB. Benchmark reissued a “buy” rating and issued a $160.00 target price on shares of Silicon Laboratories in a research report on Wednesday, March 12th. Needham & Company LLC reissued a “buy” rating and issued a $150.00 price objective on shares of Silicon Laboratories in a report on Wednesday, March 12th. Stifel Nicolaus increased their target price 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. Barclays lifted 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, KeyCorp increased their price target on Silicon Laboratories from $115.00 to $160.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 22nd. Six analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $136.20.

Silicon Laboratories Stock Performance

Shares of SLAB opened at $125.24 on Tuesday. The firm has a market cap of $4.07 billion, a P/E ratio of -21.08 and a beta of 1.15. Silicon Laboratories has a 52 week low of $94.00 and a 52 week high of $160.00. The firm’s 50-day simple moving average is $138.33 and its 200 day simple moving average is $122.98.

Silicon Laboratories (NASDAQ:SLAB) last posted 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 for the quarter, compared to the consensus estimate of $166.09 million. Silicon Laboratories had a negative return on equity of 10.46% and a negative net margin of 32.69%. 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 business earned ($1.19) earnings per share. As a group, equities analysts forecast that Silicon Laboratories will post -0.97 earnings per share for the current year.

Insider Transactions at Silicon Laboratories

In related news, Director William G. Bock sold 1,000 shares of Silicon Laboratories stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $149.43, for a total transaction of $149,430.00. Following the sale, the director now directly owns 31,115 shares of the company’s stock, valued at approximately $4,649,514.45. The trade was a 3.11 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Navdeep S. Sooch sold 2,360 shares of the company’s stock in a transaction that occurred 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 transaction, the director now owns 400,567 shares of the company’s stock, valued at approximately $59,684,483. This represents a 0.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 5,360 shares of company stock valued at $782,610. Corporate insiders own 1.72% of the company’s stock.

Hedge Funds Weigh In On Silicon Laboratories

A number of institutional investors and hedge funds have recently bought and sold shares of SLAB. Royce & Associates LP grew its holdings in shares of Silicon Laboratories by 19.5% during the third quarter. Royce & Associates LP now owns 24,500 shares of the semiconductor company’s stock worth $2,831,000 after purchasing an additional 4,000 shares during the last quarter. Natixis Advisors LLC grew its holdings in Silicon Laboratories by 6.2% during the 3rd quarter. Natixis Advisors LLC now owns 12,050 shares of the semiconductor company’s stock worth $1,393,000 after acquiring an additional 708 shares during the last quarter. Thrivent Financial for Lutherans increased its position in Silicon Laboratories by 10.4% in the 3rd quarter. Thrivent Financial for Lutherans now owns 131,548 shares of the semiconductor company’s stock valued at $15,203,000 after acquiring an additional 12,435 shares during the period. Quest Partners LLC acquired a new position in Silicon Laboratories in the 3rd quarter valued at approximately $426,000. Finally, Meeder Asset Management Inc. raised its stake in shares of Silicon Laboratories by 250.1% during the third quarter. Meeder Asset Management Inc. now owns 3,743 shares of the semiconductor company’s stock valued at $433,000 after acquiring an additional 2,674 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.