Needham & Company LLC Reiterates Buy Rating for Silicon Laboratories (NASDAQ:SLAB)

Silicon Laboratories (NASDAQ:SLAB)‘s stock had its “buy” rating reissued by equities research analysts at Needham & Company LLC in a research report issued to clients and investors on Wednesday,Benzinga reports. They presently have a $150.00 target price on the semiconductor company’s stock. Needham & Company LLC’s target price suggests a potential upside of 23.99% from the stock’s previous close.

A number of other analysts have also issued reports on the stock. Susquehanna initiated coverage on shares of Silicon Laboratories in a research note on Tuesday, December 17th. They set a “neutral” rating and a $130.00 price target on the stock. Benchmark upgraded shares of Silicon Laboratories from a “hold” rating to a “buy” rating and set a $160.00 target price on the stock in a research note on Wednesday, February 5th. Stifel Nicolaus upped their target price on shares of Silicon Laboratories from $135.00 to $145.00 and gave the stock a “buy” rating in a research note on Monday, January 6th. Barclays upped their target price on shares of 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, StockNews.com lowered shares of Silicon Laboratories from a “hold” rating to a “sell” rating in a research note on Friday, February 28th. One analyst has rated the stock with a sell rating, five have issued a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat, Silicon Laboratories presently has an average rating of “Hold” and a consensus target price of $136.20.

Silicon Laboratories Price Performance

NASDAQ SLAB opened at $120.98 on Wednesday. The firm’s 50-day moving average is $138.66 and its two-hundred day moving average is $122.76. Silicon Laboratories has a 12 month low of $94.00 and a 12 month high of $160.00. The stock has a market capitalization of $3.93 billion, a P/E ratio of -20.37 and a beta of 1.15.

Silicon Laboratories (NASDAQ:SLAB) last issued its quarterly 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 company 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 for the quarter was up 91.4% compared to the same quarter last year. During the same period in the prior year, the firm earned ($1.19) earnings per share. As a group, analysts anticipate that Silicon Laboratories will post -0.97 EPS for the current year.

Insider Buying and Selling at Silicon Laboratories

In other news, Director William G. Bock sold 1,000 shares of the firm’s stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $149.43, for a total value of $149,430.00. Following the completion of the transaction, the director now owns 31,115 shares in the company, valued at $4,649,514.45. This trade represents a 3.11 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Navdeep S. Sooch sold 2,360 shares of the firm’s stock in a transaction on Wednesday, February 5th. The shares were 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 of the company’s stock, valued at approximately $59,684,483. This represents a 0.59 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 5,360 shares of company stock valued at $782,610. 1.72% of the stock is owned by company insiders.

Institutional Trading of Silicon Laboratories

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. FMR LLC increased its position in Silicon Laboratories by 0.5% during the 4th quarter. FMR LLC now owns 4,867,203 shares of the semiconductor company’s stock worth $604,604,000 after purchasing an additional 23,833 shares in the last quarter. Vanguard Group Inc. lifted its stake in shares of Silicon Laboratories by 1.9% in the 4th quarter. Vanguard Group Inc. now owns 3,959,580 shares of the semiconductor company’s stock valued at $491,859,000 after purchasing an additional 71,942 shares in the last quarter. Capital Research Global Investors lifted its stake in shares of Silicon Laboratories by 23.3% in the 4th quarter. Capital Research Global Investors now owns 2,131,920 shares of the semiconductor company’s stock valued at $264,827,000 after purchasing an additional 403,010 shares in the last quarter. Wellington Management Group LLP lifted its stake in shares of Silicon Laboratories by 28.3% in the 3rd quarter. Wellington Management Group LLP now owns 888,382 shares of the semiconductor company’s stock valued at $102,670,000 after purchasing an additional 195,997 shares in the last quarter. Finally, Geode Capital Management LLC lifted its stake in shares of Silicon Laboratories by 2.1% in the 3rd quarter. Geode Capital Management LLC now owns 781,049 shares of the semiconductor company’s stock valued at $90,282,000 after purchasing an additional 15,728 shares in 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.