Silicon Laboratories’ (SLAB) Buy Rating Reiterated at Needham & Company LLC

Needham & Company LLC reaffirmed their buy rating on shares of Silicon Laboratories (NASDAQ:SLAB) in a research report released on Wednesday,Benzinga reports. Needham & Company LLC currently has a $150.00 price objective on the semiconductor company’s stock.

A number of other research analysts also recently weighed in on SLAB. Barclays raised their price target 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 assumed coverage on Silicon Laboratories in a research note on Tuesday, December 17th. They issued a “neutral” rating and a $130.00 price target for the company. KeyCorp raised their price target on Silicon Laboratories from $115.00 to $160.00 and gave the company an “overweight” rating in a research note on Wednesday, January 22nd. Benchmark upgraded Silicon Laboratories from a “hold” rating to a “buy” rating and set a $160.00 price target for the company in a research note on Wednesday, February 5th. Finally, StockNews.com downgraded 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 issued a buy rating to the company. According to data from MarketBeat, Silicon Laboratories presently has an average rating of “Hold” and a consensus target price of $136.20.

Silicon Laboratories Stock Performance

NASDAQ:SLAB opened at $121.68 on Wednesday. The company has a market cap of $3.95 billion, a PE ratio of -20.48 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 stock has a 50-day simple moving average of $138.66 and a 200 day simple moving average of $122.76.

Silicon Laboratories (NASDAQ:SLAB) last posted its quarterly earnings data 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 business 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%. Silicon Laboratories’s quarterly revenue was up 91.4% on a year-over-year basis. During the same period last year, the company earned ($1.19) earnings per share. On average, research analysts predict that Silicon Laboratories will post -0.97 earnings per share for the current fiscal year.

Insider Transactions at Silicon Laboratories

In related news, Director Navdeep S. Sooch sold 2,360 shares of Silicon Laboratories 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 completion of the sale, the director now directly owns 400,567 shares of the company’s stock, valued at approximately $59,684,483. This trade represents a 0.59 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director William G. Bock sold 2,000 shares of Silicon Laboratories stock in a transaction that occurred on Wednesday, January 22nd. The stock was sold at an average price of $140.77, for a total value of $281,540.00. Following 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 ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 5,360 shares of company stock worth $782,610. 1.72% of the stock is owned by company insiders.

Institutional Trading of Silicon Laboratories

Hedge funds have recently added to or reduced their stakes in the company. Jones Financial Companies Lllp lifted its holdings in Silicon Laboratories by 44.5% during the 4th 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 last quarter. Advisors Asset Management Inc. lifted its holdings in Silicon Laboratories by 159.4% during the 3rd 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 last quarter. Headlands Technologies LLC acquired a new stake in Silicon Laboratories during the 4th quarter worth approximately $70,000. Venturi Wealth Management LLC raised its holdings in Silicon Laboratories by 207.0% in the 4th quarter. Venturi Wealth Management LLC now owns 786 shares of the semiconductor company’s stock valued at $98,000 after acquiring an additional 530 shares in the last quarter. Finally, Asset Management One Co. Ltd. acquired a new position in Silicon Laboratories in the 4th quarter valued at $117,000.

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.