Silicon Laboratories (NASDAQ:SLAB) Receives Buy Rating from Needham & Company LLC

Needham & Company LLC reiterated their buy rating on shares of Silicon Laboratories (NASDAQ:SLAB) in a research note issued to investors on Wednesday,Benzinga reports. The firm currently has a $150.00 price objective on the semiconductor company’s stock.

Other analysts have also recently issued reports about the company. StockNews.com cut Silicon Laboratories from a “hold” rating to a “sell” rating in a research report on Friday, February 28th. KeyCorp upped their price target on Silicon Laboratories from $115.00 to $160.00 and gave the company an “overweight” rating in a research report on Wednesday, January 22nd. Benchmark upgraded Silicon Laboratories from a “hold” rating to a “buy” rating and set a $160.00 price target on the stock in a research report on Wednesday, February 5th. Stifel Nicolaus increased their target price on Silicon Laboratories from $135.00 to $145.00 and gave the stock a “buy” rating in a report on Monday, January 6th. Finally, Susquehanna began coverage on Silicon Laboratories in a report on Tuesday, December 17th. They set a “neutral” rating and a $130.00 target price on the stock. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat.com, Silicon Laboratories has an average rating of “Hold” and an average target price of $136.20.

Silicon Laboratories Trading Down 1.7 %

Shares of NASDAQ SLAB opened at $121.68 on Wednesday. The business has a fifty day simple moving average of $138.66 and a 200 day simple moving average of $122.76. The firm has a market capitalization of $3.95 billion, a price-to-earnings ratio of -20.48 and a beta of 1.15. Silicon Laboratories has a one year low of $94.00 and a one year high of $160.00.

Silicon Laboratories (NASDAQ:SLAB) last issued its earnings results on Tuesday, February 4th. The semiconductor company reported ($0.11) EPS for the quarter, meeting analysts’ consensus estimates of ($0.11). Silicon Laboratories had a negative return on equity of 10.46% and a negative net margin of 32.69%. The business had revenue of $166.25 million during the quarter, compared to analyst estimates of $166.09 million. During the same period in the prior year, the company posted ($1.19) earnings per share. Silicon Laboratories’s revenue was up 91.4% on a year-over-year basis. On average, research 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 Silicon Laboratories news, Director Navdeep S. Sooch sold 2,360 shares of the stock in a transaction dated Wednesday, February 5th. The stock was 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 of the company’s stock, valued at approximately $59,684,483. This represents a 0.59 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed 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 sale, the director now directly owns 31,115 shares in the company, valued at approximately $4,649,514.45. This represents a 3.11 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 5,360 shares of company stock valued at $782,610. 1.72% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Silicon Laboratories

Hedge funds have recently modified their holdings of the business. Jones Financial Companies Lllp raised its position in shares of 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. raised its position in shares of 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 shares of Silicon Laboratories during the fourth quarter worth about $70,000. Venturi Wealth Management LLC raised its position in shares of 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 shares of Silicon Laboratories during the fourth quarter worth about $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.