Silicon Laboratories (NASDAQ:SLAB) Downgraded by StockNews.com to Sell

StockNews.com lowered shares of Silicon Laboratories (NASDAQ:SLAB) from a hold rating to a sell rating in a research report sent to investors on Thursday morning.

Several other brokerages have also recently commented on SLAB. Benchmark restated a “buy” rating and issued a $160.00 target price on shares of Silicon Laboratories in a research report on Wednesday, March 12th. Stifel Nicolaus boosted their price target on Silicon Laboratories from $135.00 to $145.00 and gave the stock a “buy” rating in a report on Monday, January 6th. Barclays raised their price objective on Silicon Laboratories from $75.00 to $120.00 and gave the company an “equal weight” rating in a research note on Friday, January 17th. Susquehanna initiated coverage on Silicon Laboratories in a research note on Tuesday, December 17th. They set a “neutral” rating and a $130.00 target price for the company. Finally, KeyCorp raised their price target on shares of Silicon Laboratories from $115.00 to $160.00 and gave the company an “overweight” rating in a research note on Wednesday, January 22nd. One investment analyst has rated the stock with a sell rating, five have given a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, Silicon Laboratories has an average rating of “Hold” and a consensus target price of $136.20.

Silicon Laboratories Price Performance

Shares of NASDAQ:SLAB opened at $119.57 on Thursday. The business’s 50 day simple moving average is $137.08 and its 200 day simple moving average is $123.48. Silicon Laboratories has a 1 year low of $94.00 and a 1 year high of $160.00. The company has a market capitalization of $3.88 billion, a P/E ratio of -20.13 and a beta of 1.15.

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

Insider Buying and Selling at Silicon Laboratories

In other Silicon Laboratories 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 transaction of $351,640.00. Following the transaction, the director now directly owns 400,567 shares of the company’s stock, valued at approximately $59,684,483. The trade was a 0.59 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director William G. Bock sold 2,000 shares of the stock in a transaction dated Wednesday, January 22nd. The shares were sold at an average price of $140.77, for a total value of $281,540.00. Following the completion of the sale, the director now directly owns 32,115 shares of the company’s stock, valued at approximately $4,520,828.55. The trade was a 5.86 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 5,360 shares of company stock worth $782,610. 1.72% of the stock is currently owned by company insiders.

Institutional Trading of Silicon Laboratories

Several institutional investors have recently added to or reduced their stakes in SLAB. Wealth Enhancement Advisory Services LLC lifted its position in shares of Silicon Laboratories by 9.7% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 2,334 shares of the semiconductor company’s stock worth $290,000 after purchasing an additional 206 shares during the period. Jefferies Financial Group Inc. acquired a new position in Silicon Laboratories in the fourth quarter valued at $1,303,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in Silicon Laboratories by 18.0% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 95,477 shares of the semiconductor company’s stock valued at $11,860,000 after acquiring an additional 14,552 shares during the last quarter. Squarepoint Ops LLC grew its holdings in Silicon Laboratories by 735.0% during the 4th quarter. Squarepoint Ops LLC now owns 54,935 shares of the semiconductor company’s stock worth $6,824,000 after acquiring an additional 48,356 shares during the period. Finally, Summit Partners Public Asset Management LLC bought a new position in shares of Silicon Laboratories in the 4th quarter worth about $2,857,000.

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.