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

Silicon Laboratories Inc. (NASDAQ:SLAB) has earned an average recommendation of “Moderate Buy” from the ten ratings firms that are currently covering the stock, MarketBeat Ratings reports. Five investment analysts have rated the stock with a hold recommendation and five have assigned a buy recommendation to the company. The average 12 month price target among analysts that have issued a report on the stock in the last year is $121.50.

SLAB has been the subject of several research reports. Morgan Stanley lowered their price objective on shares of Silicon Laboratories from $123.00 to $97.00 and set an “equal weight” rating for the company in a research report on Tuesday. Benchmark reissued a “hold” rating on shares of Silicon Laboratories in a research report on Tuesday. JPMorgan Chase & Co. lowered their price objective on shares of Silicon Laboratories from $150.00 to $135.00 and set an “overweight” rating for the company in a research report on Tuesday. KeyCorp reduced their target price on shares of Silicon Laboratories from $150.00 to $115.00 and set an “overweight” rating for the company in a report on Tuesday. Finally, Barclays reduced their target price on shares of Silicon Laboratories from $120.00 to $75.00 and set an “equal weight” rating for the company in a report on Tuesday.

Insider Buying and Selling at Silicon Laboratories

In other Silicon Laboratories news, SVP Brandon Tolany sold 845 shares of the stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $115.00, for a total value of $97,175.00. Following the completion of the sale, the senior vice president now owns 43,615 shares in the company, valued at $5,015,725. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 1.72% of the company’s stock.

Hedge Funds Weigh In On Silicon Laboratories

Several large investors have recently modified their holdings of the stock. Vanguard Group Inc. increased its position in Silicon Laboratories by 0.7% during the first quarter. Vanguard Group Inc. now owns 3,489,160 shares of the semiconductor company’s stock worth $501,462,000 after acquiring an additional 24,997 shares during the period. Capital Research Global Investors increased its position in Silicon Laboratories by 29.9% during the first quarter. Capital Research Global Investors now owns 1,217,939 shares of the semiconductor company’s stock worth $175,042,000 after acquiring an additional 280,000 shares during the period. Dimensional Fund Advisors LP increased its position in Silicon Laboratories by 2.0% during the second quarter. Dimensional Fund Advisors LP now owns 639,065 shares of the semiconductor company’s stock worth $70,699,000 after acquiring an additional 12,680 shares during the period. Van Berkom & Associates Inc. increased its position in Silicon Laboratories by 8.4% during the second quarter. Van Berkom & Associates Inc. now owns 609,232 shares of the semiconductor company’s stock worth $67,399,000 after acquiring an additional 47,058 shares during the period. Finally, Federated Hermes Inc. increased its position in Silicon Laboratories by 2.2% during the second quarter. Federated Hermes Inc. now owns 545,833 shares of the semiconductor company’s stock worth $60,386,000 after acquiring an additional 11,981 shares during the period.

Silicon Laboratories Stock Performance

Shares of NASDAQ:SLAB opened at $115.70 on Friday. The company has a 50 day moving average price of $112.29 and a two-hundred day moving average price of $115.48. Silicon Laboratories has a 52 week low of $91.37 and a 52 week high of $154.91. The company has a market capitalization of $3.74 billion, a PE ratio of -14.12 and a beta of 1.20.

Silicon Laboratories (NASDAQ:SLAB) last issued its quarterly earnings data on Monday, November 4th. The semiconductor company reported ($0.13) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.20) by $0.07. Silicon Laboratories had a negative net margin of 46.93% and a negative return on equity of 12.40%. The company had revenue of $166.00 million during the quarter, compared to the consensus estimate of $165.50 million. During the same quarter in the prior year, the firm earned $0.48 earnings per share. The firm’s revenue was down 18.5% compared to the same quarter last year. On average, sell-side analysts forecast that Silicon Laboratories will post -3.41 earnings per share for the current year.

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.