Silicon Laboratories Inc. (NASDAQ:SLAB) Receives Average Rating of “Moderate Buy” from Analysts

Shares of Silicon Laboratories Inc. (NASDAQ:SLAB) have been assigned a consensus rating of “Moderate Buy” from the ten analysts that are presently covering the company, Marketbeat.com reports. Five analysts have rated the stock with a hold recommendation and five have assigned a buy recommendation to the company. The average 1-year price objective among analysts that have issued a report on the stock in the last year is $135.00.

Several brokerages have commented on SLAB. StockNews.com upgraded shares of Silicon Laboratories to a “sell” rating in a research report on Tuesday, July 23rd. Needham & Company LLC reissued a “buy” rating and set a $150.00 price objective on shares of Silicon Laboratories in a report on Thursday, July 25th.

Silicon Laboratories Stock Down 1.0 %

NASDAQ SLAB opened at $106.83 on Friday. The stock has a market capitalization of $3.45 billion, a P/E ratio of -32.27 and a beta of 1.19. Silicon Laboratories has a 52-week low of $74.56 and a 52-week high of $154.91. The firm has a 50-day moving average price of $111.44 and a 200 day moving average price of $121.57.

Silicon Laboratories (NASDAQ:SLAB) last issued its earnings results on Wednesday, July 24th. The semiconductor company reported ($0.56) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.64) by $0.08. Silicon Laboratories had a negative return on equity of 9.13% and a negative net margin of 36.53%. The business had revenue of $145.40 million during the quarter, compared to the consensus estimate of $140.18 million. During the same period in the prior year, the business posted $0.59 EPS. The company’s revenue for the quarter was down 40.6% on a year-over-year basis. On average, equities research analysts expect that Silicon Laboratories will post -3.4 earnings per share for the current fiscal year.

Insider Activity

In other news, SVP Brandon Tolany sold 845 shares of the business’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $115.00, for a total value of $97,175.00. Following the completion of the transaction, the senior vice president now directly owns 43,615 shares of the company’s stock, valued at $5,015,725. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Company insiders own 1.72% of the company’s stock.

Institutional Trading of Silicon Laboratories

A number of hedge funds have recently bought and sold shares of SLAB. Sanctuary Advisors LLC purchased a new stake in Silicon Laboratories in the 2nd quarter valued at about $229,000. Clearbridge Investments LLC increased its stake in Silicon Laboratories by 84.0% during the second quarter. Clearbridge Investments LLC now owns 273,776 shares of the semiconductor company’s stock worth $30,288,000 after acquiring an additional 125,022 shares during the last quarter. Marshall Wace LLP purchased a new position in shares of Silicon Laboratories in the 2nd quarter worth about $3,172,000. Avalon Global Asset Management LLC lifted its stake in shares of Silicon Laboratories by 44.8% in the 2nd quarter. Avalon Global Asset Management LLC now owns 97,900 shares of the semiconductor company’s stock valued at $10,831,000 after purchasing an additional 30,300 shares in the last quarter. Finally, Sei Investments Co. grew its holdings in shares of Silicon Laboratories by 4.3% during the 2nd quarter. Sei Investments Co. now owns 19,228 shares of the semiconductor company’s stock worth $2,127,000 after purchasing an additional 784 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.