Silicon Laboratories Inc. (NASDAQ:SLAB) Receives $136.20 Consensus PT from Brokerages

Shares of Silicon Laboratories Inc. (NASDAQ:SLAB) have received a consensus recommendation of “Moderate Buy” from the eleven ratings firms that are covering the firm, Marketbeat reports. Five equities research analysts have rated the stock with a hold recommendation and six have given a buy recommendation to the company. The average 12-month price objective among brokers that have issued a report on the stock in the last year is $136.20.

A number of equities research analysts have recently weighed in on SLAB shares. StockNews.com lowered shares of Silicon Laboratories from a “hold” rating to a “sell” rating in a report on Friday, February 28th. Needham & Company LLC restated a “buy” rating and issued a $150.00 price objective on shares of Silicon Laboratories in a report on Wednesday. Susquehanna started coverage on shares of Silicon Laboratories in a report on Tuesday, December 17th. They issued a “neutral” rating and a $130.00 price objective for the company. Benchmark restated a “buy” rating and issued a $160.00 price objective on shares of Silicon Laboratories in a report on Wednesday. Finally, KeyCorp boosted their price objective on shares of Silicon Laboratories from $115.00 to $160.00 and gave the stock an “overweight” rating in a report on Wednesday, January 22nd.

Silicon Laboratories Price Performance

Shares of Silicon Laboratories stock opened at $120.98 on Friday. Silicon Laboratories has a 1 year low of $94.00 and a 1 year high of $160.00. The firm has a market cap of $3.93 billion, a PE ratio of -20.37 and a beta of 1.15. The company has a 50 day simple moving average of $138.66 and a two-hundred day simple moving average of $122.76.

Silicon Laboratories (NASDAQ:SLAB) last announced its earnings results on Tuesday, February 4th. The semiconductor company reported ($0.11) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.11). Silicon Laboratories had a negative net margin of 32.69% and a negative return on equity of 10.46%. 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 previous year, the business posted ($1.19) earnings per share. Silicon Laboratories’s revenue for the quarter was up 91.4% on a year-over-year basis. As a group, research analysts anticipate that Silicon Laboratories will post -0.97 earnings per share for the current year.

Insider Buying and Selling at Silicon Laboratories

In other Silicon Laboratories news, Director Navdeep S. Sooch sold 2,360 shares of the business’s stock in a transaction on Wednesday, February 5th. The shares were sold at an average price of $149.00, for a total transaction of $351,640.00. Following the transaction, the director now directly owns 400,567 shares of the company’s stock, valued at approximately $59,684,483. The trade was a 0.59 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director William G. Bock sold 1,000 shares of the business’s stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $149.43, for a total transaction of $149,430.00. Following the transaction, the director now directly owns 31,115 shares in the company, valued at approximately $4,649,514.45. The trade was a 3.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, 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 Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in SLAB. Franklin Resources Inc. grew its position in shares of Silicon Laboratories by 1.9% in the 3rd quarter. Franklin Resources Inc. now owns 231,889 shares of the semiconductor company’s stock worth $27,001,000 after buying an additional 4,278 shares during the period. Point72 Asset Management L.P. purchased a new stake in shares of Silicon Laboratories in the 3rd quarter worth about $7,408,000. Intech Investment Management LLC grew its position in shares of Silicon Laboratories by 82.9% in the 3rd quarter. Intech Investment Management LLC now owns 12,837 shares of the semiconductor company’s stock worth $1,484,000 after buying an additional 5,818 shares during the period. Barclays PLC grew its position in shares of Silicon Laboratories by 23.4% in the 3rd quarter. Barclays PLC now owns 70,568 shares of the semiconductor company’s stock worth $8,157,000 after buying an additional 13,363 shares during the period. Finally, Premier Fund Managers Ltd purchased a new stake in shares of Silicon Laboratories in the 3rd quarter worth about $934,000.

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.