Silicon Laboratories (NASDAQ:SLAB) Raised to “Buy” at Needham & Company LLC

Needham & Company LLC upgraded shares of Silicon Laboratories (NASDAQ:SLAB) from a hold rating to a buy rating in a research report report published on Thursday, MarketBeat reports. Needham & Company LLC currently has $150.00 price objective on the semiconductor company’s stock.

A number of other research firms also recently weighed in on SLAB. JPMorgan Chase & Co. lifted their price objective on Silicon Laboratories from $145.00 to $165.00 and gave the company an overweight rating in a report on Thursday, February 8th. TD Cowen lifted their price objective on Silicon Laboratories from $140.00 to $155.00 and gave the company an outperform rating in a report on Thursday, February 8th. Stifel Nicolaus lifted their target price on shares of Silicon Laboratories from $136.00 to $155.00 and gave the company a buy rating in a research note on Tuesday, January 2nd. Barclays lifted their target price on shares of Silicon Laboratories from $120.00 to $140.00 and gave the company an equal weight rating in a research note on Thursday, February 8th. Finally, Summit Insights cut shares of Silicon Laboratories from a buy rating to a hold rating in a research note on Wednesday. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, Silicon Laboratories presently has an average rating of Hold and a consensus target price of $135.00.

Silicon Laboratories Trading Up 2.7 %

NASDAQ SLAB opened at $122.13 on Thursday. The stock’s 50 day moving average is $133.57 and its two-hundred day moving average is $122.19. The company has a market capitalization of $3.90 billion, a price-to-earnings ratio of -36.90 and a beta of 1.27. Silicon Laboratories has a 1-year low of $74.56 and a 1-year high of $166.94.

Silicon Laboratories (NASDAQ:SLAB) last released its quarterly earnings data on Wednesday, April 24th. The semiconductor company reported ($1.34) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.29) by ($0.05). The company had revenue of $106.38 million for the quarter, compared to analyst estimates of $104.45 million. Silicon Laboratories had a negative net margin of 16.36% and a negative return on equity of 4.45%. On average, analysts predict that Silicon Laboratories will post -1.66 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the stock. Venturi Wealth Management LLC bought a new position in Silicon Laboratories in the 3rd quarter worth approximately $30,000. GAMMA Investing LLC bought a new position in Silicon Laboratories in the 4th quarter worth approximately $36,000. Gladius Capital Management LP raised its position in Silicon Laboratories by 328.7% in the 4th quarter. Gladius Capital Management LP now owns 373 shares of the semiconductor company’s stock worth $49,000 after purchasing an additional 286 shares during the last quarter. CWM LLC raised its position in Silicon Laboratories by 78.1% in the 4th quarter. CWM LLC now owns 374 shares of the semiconductor company’s stock worth $49,000 after purchasing an additional 164 shares during the last quarter. Finally, Mather Group LLC. bought a new position in Silicon Laboratories in the 1st quarter worth approximately $63,000.

Silicon Laboratories Company Profile

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.