Silicon Laboratories (NASDAQ:SLAB) Stock Price Expected to Rise, Needham & Company LLC Analyst Says

Silicon Laboratories (NASDAQ:SLAB) had its price target boosted by Needham & Company LLC from $140.00 to $150.00 in a report issued on Wednesday,Benzinga reports. The brokerage presently has a “buy” rating on the semiconductor company’s stock. Needham & Company LLC’s target price indicates a potential upside of 1.76% from the company’s previous close.

Several other brokerages also recently weighed in on SLAB. Benchmark upgraded shares of Silicon Laboratories from a “hold” rating to a “buy” rating and set a $160.00 price objective on the stock in a research report on Wednesday. Morgan Stanley decreased their target price on Silicon Laboratories from $123.00 to $97.00 and set an “equal weight” rating for the company in a research note on Tuesday, November 5th. KeyCorp increased their target price 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. Stifel Nicolaus lifted their price target on Silicon Laboratories from $135.00 to $145.00 and gave the stock a “buy” rating in a research note on Monday, January 6th. Finally, JPMorgan Chase & Co. lowered their price objective on shares of Silicon Laboratories from $150.00 to $135.00 and set an “overweight” rating on the stock in a research report on Tuesday, November 5th. Six equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $136.20.

Silicon Laboratories Trading Down 1.1 %

Shares of NASDAQ:SLAB opened at $147.40 on Wednesday. The firm has a market cap of $4.78 billion, a PE ratio of -19.92 and a beta of 1.16. Silicon Laboratories has a 12-month low of $94.00 and a 12-month high of $154.91. The company has a fifty day simple moving average of $129.12 and a 200 day simple moving average of $116.96.

Silicon Laboratories (NASDAQ:SLAB) last announced its quarterly earnings data on Tuesday, February 4th. The semiconductor company reported ($0.11) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.11). Silicon Laboratories had a negative return on equity of 12.60% and a negative net margin of 46.93%. The firm had revenue of $166.25 million for the quarter, compared to analysts’ expectations of $166.09 million. During the same period last year, the business posted ($1.19) earnings per share. The firm’s revenue for the quarter was up 91.4% on a year-over-year basis. As a group, equities research analysts forecast that Silicon Laboratories will post -3.56 EPS for the current fiscal year.

Insiders Place Their Bets

In other Silicon Laboratories news, Director William G. Bock sold 2,000 shares of the firm’s stock in a transaction on Wednesday, January 22nd. The shares were 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 in the company, valued at $4,520,828.55. This trade represents a 5.86 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Navdeep S. Sooch sold 2,360 shares of the business’s stock in a transaction dated Wednesday, February 5th. The shares were sold at an average price of $149.00, for a total value of $351,640.00. Following the transaction, the director now owns 400,567 shares in the company, valued at $59,684,483. This represents a 0.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 1.72% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Jones Financial Companies Lllp boosted its position in shares of Silicon Laboratories by 44.5% during the 4th quarter. Jones Financial Companies Lllp now owns 224 shares of the semiconductor company’s stock valued at $28,000 after acquiring an additional 69 shares in the last quarter. Advisors Asset Management Inc. increased 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 valued at $32,000 after purchasing an additional 169 shares in the last quarter. GAMMA Investing LLC increased its stake in shares of Silicon Laboratories by 84.1% in the third quarter. GAMMA Investing LLC now owns 497 shares of the semiconductor company’s stock valued at $57,000 after buying an additional 227 shares in the last quarter. Venturi Wealth Management LLC raised its holdings in shares of Silicon Laboratories by 207.0% in the fourth quarter. Venturi Wealth Management LLC now owns 786 shares of the semiconductor company’s stock valued at $98,000 after buying an additional 530 shares during the last quarter. Finally, International Assets Investment Management LLC grew its holdings in Silicon Laboratories by 11,457.1% during the 3rd quarter. International Assets Investment Management LLC now owns 809 shares of the semiconductor company’s stock worth $93,000 after acquiring an additional 802 shares during 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.