KeyCorp Raises Silicon Laboratories (NASDAQ:SLAB) Price Target to $180.00

Silicon Laboratories (NASDAQ:SLAB - Get Free Report) had its price objective raised by research analysts at KeyCorp from $160.00 to $180.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The firm presently has an "overweight" rating on the semiconductor company's stock. KeyCorp's price target points to a potential upside of 24.45% from the stock's current price.

Several other research firms also recently commented on SLAB. Susquehanna boosted their target price on shares of Silicon Laboratories from $100.00 to $110.00 and gave the stock a "neutral" rating in a research report on Wednesday, May 14th. Benchmark restated a "buy" rating and set a $160.00 price target on shares of Silicon Laboratories in a report on Tuesday, May 27th. Needham & Company LLC restated a "buy" rating and set a $150.00 price target on shares of Silicon Laboratories in a report on Wednesday, May 14th. Stifel Nicolaus cut their price target on shares of Silicon Laboratories from $145.00 to $120.00 and set a "buy" rating on the stock in a report on Thursday, April 17th. Finally, Wall Street Zen upgraded shares of Silicon Laboratories from a "sell" rating to a "hold" rating in a report on Wednesday, May 14th. Four investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $129.00.

Silicon Laboratories Stock Performance

Shares of NASDAQ:SLAB traded up $4.89 during mid-day trading on Tuesday, reaching $144.64. 317,002 shares of the company's stock were exchanged, compared to its average volume of 347,242. The firm has a market capitalization of $4.71 billion, a price-to-earnings ratio of -28.31 and a beta of 1.47. The business's fifty day moving average price is $130.27 and its 200-day moving average price is $126.95. Silicon Laboratories has a twelve month low of $82.82 and a twelve month high of $160.00.

Silicon Laboratories (NASDAQ:SLAB - Get Free Report) last issued its quarterly earnings results on Tuesday, May 13th. The semiconductor company reported ($0.08) EPS for the quarter, topping analysts' consensus estimates of ($0.09) by $0.01. Silicon Laboratories had a negative net margin of 25.16% and a negative return on equity of 8.80%. The company had revenue of $177.71 million for the quarter, compared to analyst estimates of $177.48 million. During the same quarter in the previous year, the business earned ($0.92) earnings per share. Silicon Laboratories's revenue was up 67.0% compared to the same quarter last year. Analysts predict that Silicon Laboratories will post -0.97 EPS for the current fiscal year.

Insider Buying and Selling at Silicon Laboratories

In other Silicon Laboratories news, SVP Robert J. Conrad sold 4,029 shares of the business's stock in a transaction dated Friday, May 16th. The shares were 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. The trade was a 13.70% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Robert Matthew Johnson sold 5,879 shares of the business's stock in a transaction dated Friday, May 16th. The shares were sold at an average price of $131.20, for a total transaction of $771,324.80. Following the completion of the transaction, the chief executive officer owned 73,688 shares in the company, valued at approximately $9,667,865.60. The trade was a 7.39% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 11,626 shares of company stock worth $1,509,319 over the last three months. 1.60% of the stock is currently owned by insiders.

Institutional Trading of Silicon Laboratories

A number of institutional investors have recently modified their holdings of the business. FMR LLC lifted its stake in shares of Silicon Laboratories by 0.5% during the 4th quarter. FMR LLC now owns 4,867,203 shares of the semiconductor company's stock valued at $604,604,000 after buying an additional 23,833 shares in the last quarter. Vanguard Group Inc. lifted its stake in shares of Silicon Laboratories by 1.9% during the 4th quarter. Vanguard Group Inc. now owns 3,959,580 shares of the semiconductor company's stock valued at $491,859,000 after buying an additional 71,942 shares in the last quarter. Capital Research Global Investors lifted its stake in shares of Silicon Laboratories by 23.3% during the 4th quarter. Capital Research Global Investors now owns 2,131,920 shares of the semiconductor company's stock valued at $264,827,000 after buying an additional 403,010 shares in the last quarter. Invesco Ltd. lifted its stake in shares of Silicon Laboratories by 42.7% during the 1st quarter. Invesco Ltd. now owns 849,730 shares of the semiconductor company's stock valued at $95,654,000 after buying an additional 254,348 shares in the last quarter. Finally, Federated Hermes Inc. lifted its stake in shares of Silicon Laboratories by 4.1% during the 4th quarter. Federated Hermes Inc. now owns 638,464 shares of the semiconductor company's stock valued at $79,310,000 after buying an additional 25,178 shares in the last quarter.

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.

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