Barclays Issues Positive Forecast for Silicon Laboratories (NASDAQ:SLAB) Stock Price

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 objective increased by analysts at Barclays from $100.00 to $130.00 in a report issued on Tuesday,Benzinga reports. The firm presently has an "equal weight" rating on the semiconductor company's stock. Barclays's target price suggests a potential upside of 5.53% from the company's previous close.

Other research analysts have also recently issued research reports about the company. KeyCorp increased their price target on Silicon Laboratories from $160.00 to $180.00 and gave the stock an "overweight" rating in a research note on Tuesday, July 8th. Benchmark reiterated a "buy" rating and issued a $160.00 price target on shares of Silicon Laboratories in a research note on Tuesday, May 27th. Stifel Nicolaus upped their target price on Silicon Laboratories from $144.00 to $160.00 and gave the company a "buy" rating in a report on Friday, July 18th. Wall Street Zen upgraded Silicon Laboratories from a "sell" rating to a "hold" rating in a research report on Wednesday, May 14th. Finally, Needham & Company LLC reaffirmed a "buy" rating and set a $150.00 price objective on shares of Silicon Laboratories in a research note on Wednesday, May 14th. Four analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $151.13.

Silicon Laboratories Price Performance

Shares of SLAB traded down $0.57 during mid-day trading on Tuesday, reaching $123.19. The stock had a trading volume of 233,915 shares, compared to its average volume of 412,325. The firm has a market cap of $4.01 billion, a price-to-earnings ratio of -38.30 and a beta of 1.48. The business's fifty day moving average is $138.57 and its 200 day moving average is $128.26. Silicon Laboratories has a 52-week low of $82.82 and a 52-week high of $160.00.

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

Insiders Place Their Bets

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

Institutional Trading of Silicon Laboratories

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. GAMMA Investing LLC lifted its position in shares of Silicon Laboratories by 99.6% during the 1st quarter. GAMMA Investing LLC now owns 1,126 shares of the semiconductor company's stock worth $127,000 after buying an additional 562 shares during the last quarter. Principal Financial Group Inc. boosted its stake in shares of Silicon Laboratories by 72.2% during the first quarter. Principal Financial Group Inc. now owns 129,911 shares of the semiconductor company's stock valued at $14,624,000 after purchasing an additional 54,463 shares in the last quarter. KBC Group NV boosted its stake in shares of Silicon Laboratories by 27.1% during the first quarter. KBC Group NV now owns 1,625 shares of the semiconductor company's stock valued at $183,000 after purchasing an additional 346 shares in the last quarter. Oppenheimer Asset Management Inc. lifted its stake in Silicon Laboratories by 2.9% in the first quarter. Oppenheimer Asset Management Inc. now owns 7,379 shares of the semiconductor company's stock valued at $831,000 after buying an additional 210 shares during the period. Finally, Wealth Enhancement Advisory Services LLC increased its holdings in shares of Silicon Laboratories by 9.7% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 2,334 shares of the semiconductor company's stock valued at $290,000 after acquiring an additional 206 shares in the last quarter.

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.