Silicon Laboratories (NASDAQ:SLAB) Hits New 52-Week High - Should You Buy?

Key Points

• Silicon Laboratories shares reached a new 52-week high of $222.49 and last traded near $220.44, giving the company a market capitalization of approximately $7.35 billion.
• Analyst sentiment remains cautious: the stock has an average “Reduce” rating, with five Hold ratings and two Sell ratings, while the consensus price target of $218 is below its recent trading level.
• Recent quarterly results modestly exceeded expectations, with EPS of $0.71 versus $0.69 expected and revenue of $228.19 million; revenue rose 18.3% year over year despite a negative net margin.

Silicon Laboratories, Inc. (NASDAQ:SLAB - Get Free Report) shares reached a new 52-week high during mid-day trading on Friday . The stock traded as high as $222.49 and last traded at $220.4430, with a volume of 108346 shares changing hands. The stock had previously closed at $220.71.

Analyst Ratings Changes

SLAB has been the topic of several recent research reports. Zacks Research cut Silicon Laboratories from a "hold" rating to a "strong sell" rating in a research report on Tuesday, August 18th. Weiss Ratings reissued a "sell (d-)" rating on shares of Silicon Laboratories in a research report on Wednesday, June 24th. Five investment analysts have rated the stock with a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of "Reduce" and a consensus price target of $218.00.

Silicon Laboratories Price Performance

The company has a market capitalization of $7.35 billion, a price-to-earnings ratio of -186.62 and a beta of 1.36. The business's 50-day moving average price is $218.28 and its two-hundred day moving average price is $214.33.

Silicon Laboratories (NASDAQ:SLAB - Get Free Report) last announced its quarterly earnings data on Tuesday, August 11th. The semiconductor company reported $0.71 earnings per share for the quarter, beating the consensus estimate of $0.69 by $0.02. The firm had revenue of $228.19 million during the quarter, compared to analysts' expectations of $227.99 million. Silicon Laboratories had a negative return on equity of 0.66% and a negative net margin of 4.57%.The company's quarterly revenue was up 18.3% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.11 EPS. As a group, research analysts predict that Silicon Laboratories, Inc. will post 0.52 EPS for the current year.

Institutional Investors Weigh In On Silicon Laboratories

Several institutional investors and hedge funds have recently bought and sold shares of the company. California State Teachers Retirement System grew its stake in Silicon Laboratories by 21,812.4% during the second quarter. California State Teachers Retirement System now owns 8,327,355 shares of the semiconductor company's stock worth $1,820,027,000 after buying an additional 8,289,352 shares in the last quarter. BlackRock Inc. acquired a new position in shares of Silicon Laboratories in the 2nd quarter valued at approximately $1,135,435,000. State Street Corp lifted its holdings in shares of Silicon Laboratories by 0.5% during the 2nd quarter. State Street Corp now owns 1,517,813 shares of the semiconductor company's stock worth $223,665,000 after acquiring an additional 7,139 shares during the period. Invesco Ltd. boosted its position in shares of Silicon Laboratories by 12.9% during the 4th quarter. Invesco Ltd. now owns 852,493 shares of the semiconductor company's stock worth $111,421,000 after acquiring an additional 97,351 shares in the last quarter. Finally, Geode Capital Management LLC boosted its holdings in shares of Silicon Laboratories by 1.0% during the 4th quarter. Geode Capital Management LLC now owns 824,771 shares of the semiconductor company's stock valued at $107,814,000 after acquiring an additional 7,921 shares in the last quarter.

Silicon Laboratories Company Profile

Silicon Laboratories NASDAQ: SLAB is a global semiconductor company that develops high-performance analog and mixed-signal integrated circuits, wireless system-on-chips (SoCs), microcontrollers, and radio frequency (RF) solutions. Its product portfolio is tailored to support the Internet of Things (IoT), infrastructure, industrial automation, consumer electronics, automotive, and energy markets. By combining silicon, software, and tools, Silicon Labs aims to accelerate development cycles and deliver low-power, highly integrated solutions that address demanding application requirements.

Founded in 1996 and headquartered in Austin, Texas, Silicon Labs has grown into a multinational organization with engineering and sales operations across North America, Europe, and Asia.

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