StockNews.com Upgrades Silicon Laboratories (NASDAQ:SLAB) to “Hold”

Silicon Laboratories (NASDAQ:SLAB) was upgraded by equities research analysts at StockNews.com from a “sell” rating to a “hold” rating in a research report issued on Tuesday.

A number of other brokerages have also recently issued reports on SLAB. Needham & Company LLC reissued a “buy” rating and set a $150.00 price target on shares of Silicon Laboratories in a research report on Wednesday, March 12th. Stifel Nicolaus lifted their price objective on Silicon Laboratories from $135.00 to $145.00 and gave the company a “buy” rating in a research note on Monday, January 6th. Benchmark reiterated a “buy” rating and set a $160.00 price objective on shares of Silicon Laboratories in a research note on Wednesday, March 12th. Susquehanna assumed coverage on Silicon Laboratories in a research note on Tuesday, December 17th. They set a “neutral” rating and a $130.00 price objective for the company. Finally, KeyCorp lifted their price objective on Silicon Laboratories from $115.00 to $160.00 and gave the company an “overweight” rating in a research note on Wednesday, January 22nd. Six equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, Silicon Laboratories has a consensus rating of “Moderate Buy” and an average target price of $136.20.

Silicon Laboratories Stock Performance

Shares of Silicon Laboratories stock opened at $125.77 on Tuesday. Silicon Laboratories has a 52-week low of $94.00 and a 52-week high of $160.00. The stock has a market capitalization of $4.08 billion, a price-to-earnings ratio of -21.17 and a beta of 1.15. The company’s 50 day moving average price is $138.29 and its 200-day moving average price is $123.00.

Silicon Laboratories (NASDAQ:SLAB) last issued its earnings results on Tuesday, February 4th. The semiconductor company reported ($0.11) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.11). The firm had revenue of $166.25 million for 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 business’s revenue was up 91.4% on a year-over-year basis. During the same quarter last year, the business earned ($1.19) earnings per share. As a group, equities research analysts forecast that Silicon Laboratories will post -0.97 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Silicon Laboratories news, Director Navdeep S. Sooch sold 2,360 shares of the firm’s stock in a transaction that occurred 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 transaction, 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 transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director William G. Bock sold 1,000 shares of the firm’s stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $149.43, for a total value of $149,430.00. Following the completion of the sale, the director now directly owns 31,115 shares of the company’s stock, valued at $4,649,514.45. The trade was a 3.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 5,360 shares of company stock worth $782,610. 1.72% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Silicon Laboratories

Several institutional investors have recently modified their holdings of SLAB. Jones Financial Companies Lllp lifted its stake in shares of Silicon Laboratories by 44.5% in the 4th quarter. Jones Financial Companies Lllp now owns 224 shares of the semiconductor company’s stock valued at $28,000 after purchasing an additional 69 shares during the last quarter. Advisors Asset Management Inc. lifted its stake in shares of Silicon Laboratories by 159.4% during the 3rd quarter. Advisors Asset Management Inc. now owns 275 shares of the semiconductor company’s stock worth $32,000 after acquiring an additional 169 shares during the last quarter. Headlands Technologies LLC bought a new stake in shares of Silicon Laboratories during the 4th quarter worth approximately $70,000. Venturi Wealth Management LLC lifted its stake in shares of Silicon Laboratories by 207.0% during the 4th quarter. Venturi Wealth Management LLC now owns 786 shares of the semiconductor company’s stock worth $98,000 after acquiring an additional 530 shares during the last quarter. Finally, Asset Management One Co. Ltd. bought a new stake in shares of Silicon Laboratories during the 4th quarter worth approximately $117,000.

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.