Silicon Laboratories (NASDAQ:SLAB) Stock Rating Upgraded by Needham & Company LLC

Needham & Company LLC upgraded shares of Silicon Laboratories (NASDAQ:SLAB - Free Report) from a hold rating to a buy rating in a report released on Thursday, Marketbeat.com reports. Needham & Company LLC currently has $150.00 price target on the semiconductor company's stock.

Other equities analysts also recently issued reports about the stock. JPMorgan Chase & Co. boosted their target price on shares of Silicon Laboratories from $145.00 to $165.00 and gave the company an overweight rating in a report on Thursday, February 8th. Barclays increased their price objective on Silicon Laboratories from $120.00 to $140.00 and gave the stock an equal weight rating in a research report on Thursday, February 8th. Stifel Nicolaus upped their price target on Silicon Laboratories from $136.00 to $155.00 and gave the company a buy rating in a research note on Tuesday, January 2nd. Summit Insights cut Silicon Laboratories from a buy rating to a hold rating in a report on Wednesday. Finally, TD Cowen boosted their price objective on shares of Silicon Laboratories from $140.00 to $155.00 and gave the company an outperform rating in a report on Thursday, February 8th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of Hold and a consensus target price of $135.00.

Silicon Laboratories Stock Up 4.1 %

Shares of Silicon Laboratories stock traded up $4.67 during mid-day trading on Thursday, reaching $118.93. 645,995 shares of the stock traded hands, compared to its average volume of 327,570. The business has a 50-day moving average of $134.38 and a 200 day moving average of $122.12. The stock has a market capitalization of $3.79 billion, a PE ratio of -105.25 and a beta of 1.27. Silicon Laboratories has a fifty-two week low of $74.56 and a fifty-two week high of $166.94.

Silicon Laboratories (NASDAQ:SLAB - Get Free Report) last issued its earnings results on Wednesday, April 24th. The semiconductor company reported ($1.34) EPS for the quarter, missing analysts' consensus estimates of ($1.29) by ($0.05). The business had revenue of $106.38 million during the quarter, compared to analyst estimates of $104.45 million. Silicon Laboratories had a negative net margin of 4.41% and a positive return on equity of 0.97%. On average, equities research analysts expect that Silicon Laboratories will post -1.66 EPS for the current fiscal year.

Hedge Funds Weigh In On Silicon Laboratories

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. L. Roy Papp & Associates LLP grew its position in shares of Silicon Laboratories by 1.2% during the fourth quarter. L. Roy Papp & Associates LLP now owns 9,920 shares of the semiconductor company's stock worth $1,312,000 after buying an additional 120 shares in the last quarter. Migdal Insurance & Financial Holdings Ltd. grew its holdings in Silicon Laboratories by 20.0% during the 3rd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 733 shares of the semiconductor company's stock worth $85,000 after acquiring an additional 122 shares in the last quarter. Global Retirement Partners LLC increased its position in shares of Silicon Laboratories by 31.7% in the 3rd quarter. Global Retirement Partners LLC now owns 507 shares of the semiconductor company's stock valued at $58,000 after purchasing an additional 122 shares during the last quarter. Coldstream Capital Management Inc. raised its holdings in shares of Silicon Laboratories by 6.9% in the 4th quarter. Coldstream Capital Management Inc. now owns 2,431 shares of the semiconductor company's stock valued at $322,000 after purchasing an additional 157 shares in the last quarter. Finally, CWM LLC raised its holdings in shares of Silicon Laboratories by 78.1% in the 4th quarter. CWM LLC now owns 374 shares of the semiconductor company's stock valued at $49,000 after purchasing an additional 164 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.