Silicon Laboratories (NASDAQ:SLAB) Hits New 52-Week High – Should You Buy?

Shares of Silicon Laboratories Inc. (NASDAQ:SLAB) reached a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $155.15 and last traded at $154.23, with a volume of 50027 shares traded. The stock had previously closed at $153.83.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on SLAB shares. StockNews.com lowered shares of Silicon Laboratories from a “hold” rating to a “sell” rating in a research note on Friday, February 14th. Barclays increased their target price on shares of Silicon Laboratories from $75.00 to $120.00 and gave the stock an “equal weight” rating in a research note on Friday, January 17th. JPMorgan Chase & Co. decreased their price target on shares of Silicon Laboratories from $150.00 to $135.00 and set an “overweight” rating on the stock in a research note on Tuesday, November 5th. Morgan Stanley decreased their price target on shares of Silicon Laboratories from $123.00 to $97.00 and set an “equal weight” rating on the stock in a research note on Tuesday, November 5th. Finally, Needham & Company LLC raised their price target on shares of Silicon Laboratories from $140.00 to $150.00 and gave the company a “buy” rating in a research note on Wednesday, February 5th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, Silicon Laboratories has an average rating of “Hold” and a consensus price target of $136.20.

Silicon Laboratories Trading Up 2.4 %

The company has a market cap of $5.11 billion, a price-to-earnings ratio of -26.46 and a beta of 1.16. The stock’s fifty day simple moving average is $134.46 and its 200 day simple moving average is $118.84.

Silicon Laboratories (NASDAQ:SLAB) last released its quarterly earnings data on Tuesday, February 4th. The semiconductor company reported ($0.11) EPS for the quarter, meeting analysts’ consensus estimates of ($0.11). The company had revenue of $166.25 million during the quarter, compared to the consensus estimate of $166.09 million. Silicon Laboratories had a negative net margin of 32.69% and a negative return on equity of 10.46%. Silicon Laboratories’s quarterly revenue was up 91.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($1.19) EPS. On average, analysts predict that Silicon Laboratories Inc. will post -0.97 EPS for the current year.

Insider Transactions at Silicon Laboratories

In other news, Director Navdeep S. Sooch sold 2,360 shares of the firm’s stock in a transaction that occurred on Wednesday, February 5th. The shares were 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 in the company, valued at $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 is available at this hyperlink. Also, Director William G. Bock sold 1,000 shares of the firm’s stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $149.43, for a total transaction of $149,430.00. Following the sale, the director now owns 31,115 shares of the company’s stock, valued at $4,649,514.45. This represents a 3.11 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 5,360 shares of company stock worth $782,610 in the last 90 days. Insiders own 1.72% of the company’s stock.

Institutional Trading of Silicon Laboratories

Several institutional investors have recently added to or reduced their stakes in SLAB. Capital Research Global Investors increased its holdings in Silicon Laboratories by 23.3% in the 4th quarter. Capital Research Global Investors now owns 2,131,920 shares of the semiconductor company’s stock valued at $264,827,000 after purchasing an additional 403,010 shares during the last quarter. Norges Bank acquired a new stake in Silicon Laboratories in the 4th quarter valued at approximately $34,622,000. Wellington Management Group LLP increased its holdings in Silicon Laboratories by 28.3% in the 3rd quarter. Wellington Management Group LLP now owns 888,382 shares of the semiconductor company’s stock valued at $102,670,000 after purchasing an additional 195,997 shares during the last quarter. Invesco Ltd. increased its holdings in Silicon Laboratories by 46.9% in the 4th quarter. Invesco Ltd. now owns 595,382 shares of the semiconductor company’s stock valued at $73,958,000 after purchasing an additional 190,085 shares during the last quarter. Finally, Raymond James Financial Inc. acquired a new stake in Silicon Laboratories in the 4th quarter valued at approximately $14,252,000.

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.