Silicon Laboratories (NASDAQ:SLAB) Price Target Raised to $130.00

Key Points

• Barclays has raised its target price for Silicon Laboratories (NASDAQ:SLAB) from $100.00 to $130.00, indicating a potential upside of 2.56% from the company's previous close.
• Analysts are generally bullish on SLAB, with a consensus rating of "Moderate Buy" and a price target averaging $145.25, reflecting strong support from multiple firms.
• Silicon Laboratories reported a 32.6% increase in revenue year-over-year and exceeded earnings expectations with $0.11 EPS for the most recent quarter.

Silicon Laboratories (NASDAQ:SLAB - Get Free Report) had its price target raised by Barclays from $100.00 to $130.00 in a note issued to investors on Tuesday,Benzinga reports. The firm currently has an "equal weight" rating on the semiconductor company's stock. Barclays's target price indicates a potential upside of 3.65% from the stock's previous close.

Several other brokerages have also recently commented on SLAB. Needham & Company LLC reiterated a "buy" rating and set a $150.00 target price on shares of Silicon Laboratories in a research report on Wednesday, May 14th. Susquehanna lifted their price target on Silicon Laboratories from $110.00 to $150.00 and gave the company a "neutral" rating in a research note on Tuesday, July 22nd. KeyCorp upped their price objective on Silicon Laboratories from $160.00 to $180.00 and gave the stock an "overweight" rating in a research report on Tuesday, July 8th. Wall Street Zen raised Silicon Laboratories from a "sell" rating to a "hold" rating in a research report on Wednesday, May 14th. Finally, Stifel Nicolaus boosted their target price on Silicon Laboratories from $144.00 to $160.00 and gave the company a "buy" rating in a research note on Friday, July 18th. Four research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, Silicon Laboratories has an average rating of "Moderate Buy" and a consensus target price of $151.13.

Silicon Laboratories Trading Up 0.9%

Silicon Laboratories stock traded up $1.09 during mid-day trading on Tuesday, hitting $125.42. The stock had a trading volume of 306,566 shares, compared to its average volume of 440,948. The stock has a market capitalization of $4.12 billion, a PE ratio of -38.95 and a beta of 1.48. Silicon Laboratories has a 12 month low of $82.82 and a 12 month high of $160.00. The stock has a 50-day simple moving average of $138.69 and a two-hundred day simple moving average of $128.03.

Silicon Laboratories (NASDAQ:SLAB - Get Free Report) last issued its quarterly earnings results on Tuesday, August 5th. The semiconductor company reported $0.11 EPS for the quarter, topping the consensus estimate of $0.09 by $0.02. The company had revenue of $192.85 million during the quarter, compared to analysts' expectations of $192.57 million. Silicon Laboratories had a negative net margin of 14.88% and a negative return on equity of 7.21%. Silicon Laboratories's revenue was up 32.6% on a year-over-year basis. During the same quarter in the previous year, the company earned ($0.56) EPS. Sell-side analysts expect that Silicon Laboratories will post -0.97 earnings per share for the current fiscal year.

Insider Activity

In other Silicon Laboratories news, CEO Robert Matthew Johnson sold 5,879 shares of the firm's stock in a transaction that occurred on Friday, May 16th. The stock was sold at an average price of $131.20, for a total value of $771,324.80. Following the completion of the transaction, the chief executive officer directly owned 73,688 shares in the company, valued at $9,667,865.60. This trade represents a 7.39% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, SVP Robert J. Conrad sold 4,029 shares of the business's stock in a transaction that occurred on Friday, May 16th. The stock was sold at an average price of $131.20, for a total value of $528,604.80. Following the transaction, the senior vice president directly owned 25,380 shares in the company, valued at $3,329,856. This trade represents a 13.70% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 11,080 shares of company stock worth $1,452,290 in the last quarter. 1.60% of the stock is currently owned by corporate insiders.

Institutional Trading of Silicon Laboratories

Several institutional investors and hedge funds have recently added to or reduced their stakes in SLAB. FMR LLC raised its holdings in shares of Silicon Laboratories by 0.5% in the 4th quarter. FMR LLC now owns 4,867,203 shares of the semiconductor company's stock valued at $604,604,000 after purchasing an additional 23,833 shares during the period. Capital Research Global Investors grew its holdings in Silicon Laboratories by 23.3% during the fourth quarter. Capital Research Global Investors now owns 2,131,920 shares of the semiconductor company's stock worth $264,827,000 after purchasing an additional 403,010 shares during the period. Invesco Ltd. increased its position in Silicon Laboratories by 42.7% during the first quarter. Invesco Ltd. now owns 849,730 shares of the semiconductor company's stock worth $95,654,000 after buying an additional 254,348 shares during the last quarter. Geode Capital Management LLC raised its stake in Silicon Laboratories by 0.9% in the second quarter. Geode Capital Management LLC now owns 810,736 shares of the semiconductor company's stock valued at $119,484,000 after buying an additional 7,519 shares during the period. Finally, Dimensional Fund Advisors LP raised its stake in Silicon Laboratories by 1.0% in the fourth quarter. Dimensional Fund Advisors LP now owns 604,168 shares of the semiconductor company's stock valued at $75,053,000 after buying an additional 5,781 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.