Silicon Laboratories (NASDAQ:SLAB) Stock Price Expected to Rise, KeyCorp Analyst Says

Silicon Laboratories (NASDAQ:SLABGet Free Report) had its price objective increased by stock analysts at KeyCorp from $115.00 to $160.00 in a report issued on Wednesday,Benzinga reports. The firm currently has an “overweight” rating on the semiconductor company’s stock. KeyCorp’s target price would indicate a potential upside of 13.07% from the stock’s previous close.

SLAB has been the topic of a number of other research reports. Barclays increased their price target on Silicon Laboratories from $75.00 to $120.00 and gave the stock an “equal weight” rating in a research report on Friday, January 17th. JPMorgan Chase & Co. dropped their price target on Silicon Laboratories from $150.00 to $135.00 and set an “overweight” rating on the stock in a research note on Tuesday, November 5th. Susquehanna began coverage on Silicon Laboratories in a research report on Tuesday, December 17th. They set a “neutral” rating and a $130.00 price target for the company. Benchmark reissued a “hold” rating on shares of Silicon Laboratories in a report on Tuesday, November 5th. Finally, Morgan Stanley decreased their target price on Silicon Laboratories from $123.00 to $97.00 and set an “equal weight” rating on the stock in a research report on Tuesday, November 5th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, Silicon Laboratories currently has an average rating of “Hold” and an average target price of $133.56.

View Our Latest Stock Report on SLAB

Silicon Laboratories Price Performance

Silicon Laboratories stock opened at $141.51 on Wednesday. Silicon Laboratories has a 1 year low of $94.00 and a 1 year high of $154.91. The firm’s 50 day moving average price is $122.62 and its 200-day moving average price is $115.61. The stock has a market cap of $4.59 billion, a P/E ratio of -19.12 and a beta of 1.17.

Silicon Laboratories (NASDAQ:SLABGet Free Report) last posted its earnings results on Monday, November 4th. The semiconductor company reported ($0.13) EPS for the quarter, beating analysts’ consensus estimates of ($0.20) by $0.07. The firm had revenue of $166.00 million during the quarter, compared to the consensus estimate of $165.50 million. Silicon Laboratories had a negative return on equity of 12.60% and a negative net margin of 46.93%. The company’s quarterly revenue was down 18.5% compared to the same quarter last year. During the same period in the prior year, the company earned $0.48 EPS. As a group, equities analysts expect that Silicon Laboratories will post -3.56 EPS for the current year.

Insider Transactions at Silicon Laboratories

In other Silicon Laboratories news, Director William G. Bock sold 2,000 shares of the business’s stock in a transaction that occurred on Wednesday, January 22nd. The stock was sold at an average price of $140.77, for a total value of $281,540.00. Following the sale, the director now owns 32,115 shares of the company’s stock, valued at $4,520,828.55. The trade was a 5.86 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 1.72% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the company. Franklin Resources Inc. lifted its stake in Silicon Laboratories by 1.9% during the 3rd quarter. Franklin Resources Inc. now owns 231,889 shares of the semiconductor company’s stock worth $27,001,000 after acquiring an additional 4,278 shares in the last quarter. Point72 Asset Management L.P. purchased a new stake in Silicon Laboratories during the third quarter worth about $7,408,000. Intech Investment Management LLC lifted its position in shares of Silicon Laboratories by 82.9% during the third quarter. Intech Investment Management LLC now owns 12,837 shares of the semiconductor company’s stock worth $1,484,000 after purchasing an additional 5,818 shares in the last quarter. Barclays PLC boosted its stake in shares of Silicon Laboratories by 23.4% in the third quarter. Barclays PLC now owns 70,568 shares of the semiconductor company’s stock valued at $8,157,000 after purchasing an additional 13,363 shares during the period. Finally, Clearbridge Investments LLC grew its holdings in shares of Silicon Laboratories by 84.0% in the second quarter. Clearbridge Investments LLC now owns 273,776 shares of the semiconductor company’s stock valued at $30,288,000 after purchasing an additional 125,022 shares in the last quarter.

Silicon Laboratories Company Profile

(Get Free Report)

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.

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Analyst Recommendations for Silicon Laboratories (NASDAQ:SLAB)

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