Silicon Laboratories (NASDAQ:SLAB) Upgraded by StockNews.com to “Hold” Rating

Silicon Laboratories (NASDAQ:SLAB) was upgraded by StockNews.com from a “sell” rating to a “hold” rating in a note issued to investors on Tuesday.

Several other brokerages have also issued reports on SLAB. Needham & Company LLC reaffirmed a “buy” rating and set a $150.00 target price on shares of Silicon Laboratories in a research report on Wednesday, March 12th. KeyCorp increased their price objective on Silicon Laboratories from $115.00 to $160.00 and gave the company an “overweight” rating in a report on Wednesday, January 22nd. Barclays increased their price objective 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 reissued a “buy” rating and issued a $160.00 price objective on shares of Silicon Laboratories in a report on Wednesday, March 12th. Finally, Stifel Nicolaus increased their price objective on Silicon Laboratories from $135.00 to $145.00 and gave the company a “buy” rating in a report on Monday, January 6th. Six analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $136.20.

Silicon Laboratories Trading Up 0.4 %

Shares of NASDAQ:SLAB opened at $125.77 on Tuesday. Silicon Laboratories has a 12-month low of $94.00 and a 12-month high of $160.00. The business’s fifty day simple moving average is $138.29 and its 200-day simple moving average is $123.00. The company has a market capitalization of $4.08 billion, a PE ratio of -21.17 and a beta of 1.15.

Silicon Laboratories (NASDAQ:SLAB) last announced its quarterly earnings results on Tuesday, February 4th. The semiconductor company reported ($0.11) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.11). Silicon Laboratories had a negative return on equity of 10.46% and a negative net margin of 32.69%. The business had revenue of $166.25 million for the quarter, compared to the consensus estimate of $166.09 million. During the same period last year, the business posted ($1.19) EPS. The business’s revenue was up 91.4% compared to the same quarter last year. Research analysts predict that Silicon Laboratories will post -0.97 EPS for the current year.

Insider Activity

In other Silicon Laboratories news, Director Navdeep S. Sooch sold 2,360 shares of the firm’s stock in a transaction on Wednesday, February 5th. The stock was sold at an average price of $149.00, for a total transaction of $351,640.00. Following the completion of the sale, the director now owns 400,567 shares of the company’s stock, valued at $59,684,483. This trade represents a 0.59 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director William G. Bock sold 1,000 shares of the firm’s stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $149.43, for a total value of $149,430.00. Following the sale, the director now directly owns 31,115 shares of the company’s stock, valued at approximately $4,649,514.45. This trade represents a 3.11 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 5,360 shares of company stock worth $782,610 over the last quarter. 1.72% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. Raymond James Financial Inc. purchased a new position in shares of Silicon Laboratories during the fourth quarter worth $14,252,000. Arizona State Retirement System boosted its holdings in Silicon Laboratories by 1.8% in the fourth quarter. Arizona State Retirement System now owns 9,360 shares of the semiconductor company’s stock valued at $1,163,000 after purchasing an additional 167 shares during the period. Franklin Resources Inc. boosted its holdings in Silicon Laboratories by 1.9% in the third quarter. Franklin Resources Inc. now owns 231,889 shares of the semiconductor company’s stock valued at $27,001,000 after purchasing an additional 4,278 shares during the period. Point72 Asset Management L.P. purchased a new position in Silicon Laboratories in the third quarter valued at $7,408,000. Finally, Intech Investment Management LLC boosted its holdings in Silicon Laboratories by 82.9% in the third quarter. Intech Investment Management LLC now owns 12,837 shares of the semiconductor company’s stock valued at $1,484,000 after purchasing an additional 5,818 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.