Silicon Laboratories (NASDAQ:SLAB) Rating Increased to Hold at StockNews.com

StockNews.com upgraded shares of Silicon Laboratories (NASDAQ:SLAB) from a sell rating to a hold rating in a report published on Tuesday.

A number of other analysts also recently weighed in on SLAB. KeyCorp upped their target price on Silicon Laboratories from $115.00 to $160.00 and gave the company an “overweight” rating in a research report on Wednesday, January 22nd. Susquehanna started coverage on Silicon Laboratories in a research report on Tuesday, December 17th. They set a “neutral” rating and a $130.00 target price for the company. 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. Benchmark reissued a “buy” rating and set a $160.00 price target on shares of Silicon Laboratories in a report on Wednesday, March 12th. Finally, Barclays boosted their price target on Silicon Laboratories from $75.00 to $120.00 and gave the stock an “equal weight” rating in a report on Friday, January 17th. Six investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Silicon Laboratories presently has a consensus rating of “Moderate Buy” and an average target price of $136.20.

Silicon Laboratories Price Performance

SLAB opened at $124.79 on Tuesday. The business has a fifty day simple moving average of $138.22 and a 200 day simple moving average of $123.02. The company has a market capitalization of $4.05 billion, a PE ratio of -21.01 and a beta of 1.15. Silicon Laboratories has a 1 year low of $94.00 and a 1 year high of $160.00.

Silicon Laboratories (NASDAQ:SLAB) last released its earnings results on Tuesday, February 4th. The semiconductor company reported ($0.11) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.11). The firm had revenue of $166.25 million during 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 company’s revenue was up 91.4% compared to the same quarter last year. During the same period in the prior year, the company posted ($1.19) EPS. Equities analysts anticipate that Silicon Laboratories will post -0.97 earnings per share for the current fiscal year.

Insider Buying and Selling at Silicon Laboratories

In other news, Director Navdeep S. Sooch sold 2,360 shares of the firm’s 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 completion of the transaction, the director now directly owns 400,567 shares in the company, valued at $59,684,483. This trade represents a 0.59 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director William G. Bock sold 1,000 shares of the firm’s stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $149.43, for a total value of $149,430.00. Following the transaction, the director now owns 31,115 shares of the company’s stock, valued at $4,649,514.45. This trade represents a 3.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 5,360 shares of company stock worth $782,610. 1.72% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Silicon Laboratories

A number of hedge funds have recently made changes to their positions in the stock. Jones Financial Companies Lllp grew its stake in 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 purchasing an additional 69 shares during the period. Advisors Asset Management Inc. grew its stake in Silicon Laboratories by 159.4% during the third quarter. Advisors Asset Management Inc. now owns 275 shares of the semiconductor company’s stock worth $32,000 after purchasing an additional 169 shares during the period. Headlands Technologies LLC acquired a new stake in Silicon Laboratories during the fourth quarter worth approximately $70,000. Venturi Wealth Management LLC grew its stake in Silicon Laboratories by 207.0% during the fourth 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. acquired a new stake in Silicon Laboratories during the fourth quarter worth approximately $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.