Silicon Laboratories Inc. (NASDAQ:SLAB) Given Average Rating of “Moderate Buy” by Brokerages

Shares of Silicon Laboratories Inc. (NASDAQ:SLAB) have been assigned an average rating of “Moderate Buy” from the eleven brokerages that are presently covering the stock, MarketBeat Ratings reports. Five research analysts have rated the stock with a hold recommendation and six have assigned a buy recommendation to the company. The average 1 year price target among analysts that have issued a report on the stock in the last year is $136.20.

SLAB has been the subject of several recent analyst reports. StockNews.com lowered shares of Silicon Laboratories from a “hold” rating to a “sell” rating in a report on Friday, February 28th. Susquehanna initiated coverage on shares of Silicon Laboratories in a report on Tuesday, December 17th. They set a “neutral” rating and a $130.00 price objective for the company. KeyCorp raised their price objective on shares of Silicon Laboratories from $115.00 to $160.00 and gave the stock an “overweight” rating in a report on Wednesday, January 22nd. Needham & Company LLC raised their price objective on shares of Silicon Laboratories from $140.00 to $150.00 and gave the stock a “buy” rating in a report on Wednesday, February 5th. Finally, Barclays raised their price objective on shares of Silicon Laboratories from $75.00 to $120.00 and gave the stock an “equal weight” rating in a report on Friday, January 17th.

Silicon Laboratories Stock Down 7.5 %

Shares of SLAB opened at $123.80 on Friday. The stock has a market cap of $4.02 billion, a price-to-earnings ratio of -20.84 and a beta of 1.15. Silicon Laboratories has a 12 month low of $94.00 and a 12 month high of $160.00. The company has a 50-day moving average price of $138.71 and a two-hundred day moving average price of $122.77.

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

Insider Activity at Silicon Laboratories

In related 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 value 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 sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director William G. Bock sold 2,000 shares of the firm’s stock in a transaction that occurred on Wednesday, January 22nd. The shares were sold at an average price of $140.77, for a total transaction of $281,540.00. Following the completion of the sale, the director now directly owns 32,115 shares of the company’s stock, valued at approximately $4,520,828.55. This represents a 5.86 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 5,360 shares of company stock valued at $782,610 over the last quarter. Corporate insiders own 1.72% of the company’s stock.

Hedge Funds Weigh In On Silicon Laboratories

A number of hedge funds and other institutional investors have recently bought and sold shares of SLAB. Capital Research Global Investors boosted its stake in Silicon Laboratories by 23.3% in the fourth quarter. Capital Research Global Investors now owns 2,131,920 shares of the semiconductor company’s stock valued at $264,827,000 after acquiring an additional 403,010 shares during the last quarter. Norges Bank bought a new position in shares of Silicon Laboratories during the fourth quarter worth $34,622,000. Wellington Management Group LLP boosted its position in shares of Silicon Laboratories by 28.3% during the third quarter. Wellington Management Group LLP now owns 888,382 shares of the semiconductor company’s stock worth $102,670,000 after purchasing an additional 195,997 shares in the last quarter. Invesco Ltd. boosted its position in shares of Silicon Laboratories by 46.9% during the fourth quarter. Invesco Ltd. now owns 595,382 shares of the semiconductor company’s stock worth $73,958,000 after purchasing an additional 190,085 shares in the last quarter. Finally, Raymond James Financial Inc. bought a new position in shares of Silicon Laboratories during the fourth quarter worth $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.