Silicon Laboratories (NASDAQ:SLAB) Shares Gap Up Following Analyst Upgrade

Silicon Laboratories Inc. (NASDAQ:SLAB) shares gapped up prior to trading on Wednesday after Needham & Company LLC raised their price target on the stock from $140.00 to $150.00. The stock had previously closed at $136.60, but opened at $141.58. Needham & Company LLC currently has a buy rating on the stock. Silicon Laboratories shares last traded at $141.97, with a volume of 31,547 shares.

Several other equities analysts have also weighed in on the company. Morgan Stanley reduced their price objective on Silicon Laboratories from $123.00 to $97.00 and set an “equal weight” rating on the stock in a research note on Tuesday, November 5th. StockNews.com raised shares of Silicon Laboratories to a “sell” rating in a research report on Friday, November 8th. Stifel Nicolaus boosted their price objective 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. Benchmark raised shares of Silicon Laboratories from a “hold” rating to a “buy” rating and set a $160.00 price objective for the company in a research report on Wednesday. Finally, Barclays lifted their target price on shares of Silicon Laboratories from $75.00 to $120.00 and gave the company an “equal weight” rating in a report on Friday, January 17th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat, Silicon Laboratories currently has a consensus rating of “Hold” and a consensus target price of $136.20.

Insider Buying and Selling

In other Silicon Laboratories news, 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 transaction of $281,540.00. Following the sale, the director now directly owns 32,115 shares in the company, valued at $4,520,828.55. The trade was a 5.86 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 1.72% of the stock is currently owned by insiders.

Institutional Trading of Silicon Laboratories

Several institutional investors have recently added to or reduced their stakes in the stock. Advisors Asset Management Inc. increased its position in shares of Silicon Laboratories by 159.4% in 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. GAMMA Investing LLC grew its stake in Silicon Laboratories by 84.1% in the third quarter. GAMMA Investing LLC now owns 497 shares of the semiconductor company’s stock worth $57,000 after purchasing an additional 227 shares in the last quarter. International Assets Investment Management LLC increased its holdings in Silicon Laboratories by 11,457.1% in the third quarter. International Assets Investment Management LLC now owns 809 shares of the semiconductor company’s stock valued at $93,000 after buying an additional 802 shares during the last quarter. Venturi Wealth Management LLC increased its holdings in 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, Asset Management One Co. Ltd. acquired a new stake in Silicon Laboratories during the fourth quarter valued at approximately $117,000.

Silicon Laboratories Stock Performance

The company has a market cap of $4.84 billion, a P/E ratio of -20.14 and a beta of 1.16. The business has a fifty day simple moving average of $128.35 and a 200 day simple moving average of $116.74.

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. Equities research analysts expect that Silicon Laboratories Inc. will post -3.56 EPS for the current year.

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.