Silicon Laboratories (NASDAQ:SLAB) Upgraded at StockNews.com

StockNews.com upgraded shares of Silicon Laboratories (NASDAQ:SLAB) from a sell rating to a hold rating in a research note issued to investors on Tuesday.

A number of other brokerages have also weighed in on SLAB. Stifel Nicolaus raised their target price on Silicon Laboratories from $135.00 to $145.00 and gave the company a “buy” rating in a research note on Monday, January 6th. Barclays raised their price target on Silicon Laboratories from $75.00 to $120.00 and gave the company an “equal weight” rating in a report on Friday, January 17th. Benchmark reiterated a “buy” rating and issued a $160.00 price target on shares of Silicon Laboratories in a report on Wednesday, March 12th. KeyCorp raised their price target on Silicon Laboratories from $115.00 to $160.00 and gave the company an “overweight” rating in a report on Wednesday, January 22nd. Finally, Susquehanna assumed coverage on Silicon Laboratories in a report on Tuesday, December 17th. They issued a “neutral” rating and a $130.00 price target on the stock. Six investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $136.20.

Silicon Laboratories Trading Down 0.8 %

Shares of NASDAQ SLAB opened at $124.79 on Tuesday. The business has a fifty day simple moving average of $138.22 and a 200 day simple moving average of $123.02. Silicon Laboratories has a one year low of $94.00 and a one year high of $160.00. The firm has a market capitalization of $4.05 billion, a price-to-earnings ratio of -21.01 and a beta of 1.15.

Silicon Laboratories (NASDAQ:SLAB) last released 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 10.46% and a negative net margin of 32.69%. The firm 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. The business’s revenue for the quarter was up 91.4% compared to the same quarter last year. On average, research analysts anticipate that Silicon Laboratories will post -0.97 earnings per share for the current fiscal year.

Insider Activity

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 value of $351,640.00. Following the sale, the director now 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 sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director William G. Bock sold 1,000 shares of Silicon Laboratories stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $149.43, for a total value of $149,430.00. Following the completion of 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. Insiders have sold 5,360 shares of company stock worth $782,610 in the last 90 days. Corporate insiders own 1.72% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in SLAB. Coldstream Capital Management Inc. boosted its stake in shares of Silicon Laboratories by 2.8% during the 4th quarter. Coldstream Capital Management Inc. now owns 2,473 shares of the semiconductor company’s stock worth $307,000 after acquiring an additional 68 shares during the period. Jones Financial Companies Lllp boosted its stake 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 worth $28,000 after acquiring an additional 69 shares during the period. Pacer Advisors Inc. boosted its stake in Silicon Laboratories by 1.8% in the 4th quarter. Pacer Advisors Inc. now owns 4,839 shares of the semiconductor company’s stock valued at $601,000 after purchasing an additional 87 shares during the period. Louisiana State Employees Retirement System boosted its stake in Silicon Laboratories by 1.1% in the 4th quarter. Louisiana State Employees Retirement System now owns 9,000 shares of the semiconductor company’s stock valued at $1,118,000 after purchasing an additional 100 shares during the period. Finally, Oppenheimer Asset Management Inc. boosted its stake in Silicon Laboratories by 1.4% in the 4th quarter. Oppenheimer Asset Management Inc. now owns 7,169 shares of the semiconductor company’s stock valued at $891,000 after purchasing an additional 102 shares during the period.

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.