Silicon Laboratories (NASDAQ:SLAB) Hits New 12-Month High – What’s Next?

Silicon Laboratories Inc. (NASDAQ:SLAB)’s stock price hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as $155.15 and last traded at $154.23, with a volume of 50027 shares traded. The stock had previously closed at $153.83.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the stock. StockNews.com downgraded shares of Silicon Laboratories from a “hold” rating to a “sell” rating in a report on Friday, February 14th. Needham & Company LLC upped their price target on shares of Silicon Laboratories from $140.00 to $150.00 and gave the stock a “buy” rating in a report on Wednesday, February 5th. Benchmark raised shares of Silicon Laboratories from a “hold” rating to a “buy” rating and set a $160.00 price target for the company in a report on Wednesday, February 5th. Stifel Nicolaus upped their price target on shares of Silicon Laboratories from $135.00 to $145.00 and gave the stock a “buy” rating in a report on Monday, January 6th. Finally, KeyCorp increased their price objective 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 analyst has rated the stock with a sell rating, five have given a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat, Silicon Laboratories currently has an average rating of “Hold” and a consensus target price of $136.20.

Silicon Laboratories Trading Down 2.1 %

The company’s 50-day simple moving average is $136.14 and its 200-day simple moving average is $119.75. The stock has a market capitalization of $5.04 billion, a price-to-earnings ratio of -26.15 and a beta of 1.16.

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

Insider Buying and Selling

In related news, Director William G. Bock sold 2,000 shares of Silicon Laboratories 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 completion of the transaction, the director now owns 32,115 shares of the company’s stock, valued at $4,520,828.55. This trade represents a 5.86 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Navdeep S. Sooch sold 2,360 shares of Silicon Laboratories stock in a transaction 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 directly owns 400,567 shares of the company’s stock, valued at $59,684,483. This represents a 0.59 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 5,360 shares of company stock valued at $782,610 over the last quarter. Insiders own 1.72% of the company’s stock.

Hedge Funds Weigh In On Silicon Laboratories

A number of hedge funds have recently bought and sold shares of the company. FMR LLC increased its stake in Silicon Laboratories by 0.5% in the fourth quarter. FMR LLC now owns 4,867,203 shares of the semiconductor company’s stock valued at $604,604,000 after purchasing an additional 23,833 shares in the last quarter. Vanguard Group Inc. increased its stake in Silicon Laboratories by 1.9% in the fourth 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 increased its stake in Silicon Laboratories by 23.3% in the fourth 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 grew its holdings in shares of Silicon Laboratories by 28.3% during the third quarter. Wellington Management Group LLP now owns 888,382 shares of the semiconductor company’s stock valued at $102,670,000 after buying an additional 195,997 shares during the last quarter. Finally, Geode Capital Management LLC grew its holdings in shares of Silicon Laboratories by 2.1% during the third quarter. Geode Capital Management LLC now owns 781,049 shares of the semiconductor company’s stock valued at $90,282,000 after buying an additional 15,728 shares during the last quarter.

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.