Silicon Laboratories, Inc. (NASDAQ:SLAB) Given Average Rating of "Reduce" by Brokerages

Key Points

• Silicon Laboratories has a consensus broker rating of "Reduce", with nine analysts covering the stock: one sell and eight hold ratings. The average 12-month price target is $172.
• The stock last traded around $217.47, near its 52-week high of $220.90, and above the average analyst target. The company has a market cap of about $7.17 billion.
• In its latest quarterly report, Silicon Labs beat earnings expectations with EPS of $0.53 versus $0.49 expected, while revenue grew 20.1% year over year to $213.5 million.

Silicon Laboratories, Inc. (NASDAQ:SLAB - Get Free Report) has received a consensus recommendation of "Reduce" from the nine brokerages that are covering the firm, Marketbeat reports. One analyst has rated the stock with a sell recommendation and eight have assigned a hold recommendation to the company. The average 12-month target price among brokerages that have covered the stock in the last year is $172.00.

Separately, Weiss Ratings restated a "sell (d-)" rating on shares of Silicon Laboratories in a research report on Wednesday, June 24th.

Silicon Laboratories Price Performance

SLAB opened at $217.47 on Monday. The stock has a market capitalization of $7.17 billion, a P/E ratio of -142.14 and a beta of 1.36. The company's 50 day simple moving average is $218.22 and its 200-day simple moving average is $199.94. Silicon Laboratories has a one year low of $115.50 and a one year high of $220.90.

Silicon Laboratories (NASDAQ:SLAB - Get Free Report) last posted its quarterly earnings data on Tuesday, May 5th. The semiconductor company reported $0.53 earnings per share for the quarter, topping the consensus estimate of $0.49 by $0.04. The firm had revenue of $213.50 million during the quarter, compared to analysts' expectations of $214.02 million. Silicon Laboratories had a negative net margin of 6.13% and a negative return on equity of 2.18%. Silicon Laboratories's revenue was up 20.1% on a year-over-year basis. During the same quarter in the previous year, the company posted ($0.08) EPS. As a group, analysts anticipate that Silicon Laboratories will post 0.74 EPS for the current year.

Insider Buying and Selling

In other Silicon Laboratories news, CEO Robert Matthew Johnson sold 8,024 shares of the business's stock in a transaction dated Monday, May 18th. The stock was sold at an average price of $216.83, for a total transaction of $1,739,843.92. Following the completion of the sale, the chief executive officer directly owned 80,519 shares of the company's stock, valued at approximately $17,458,934.77. The trade was a 9.06% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 1.60% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the business. Harbor Investment Advisory LLC bought a new stake in shares of Silicon Laboratories during the second quarter worth approximately $28,000. Kestra Advisory Services LLC bought a new position in Silicon Laboratories in the fourth quarter valued at approximately $32,000. Covestor Ltd boosted its stake in Silicon Laboratories by 260.3% in the fourth quarter. Covestor Ltd now owns 281 shares of the semiconductor company's stock valued at $37,000 after acquiring an additional 203 shares during the last quarter. Kemnay Advisory Services Inc. acquired a new stake in Silicon Laboratories during the 4th quarter worth $44,000. Finally, EverSource Wealth Advisors LLC grew its holdings in Silicon Laboratories by 66.7% during the 1st quarter. EverSource Wealth Advisors LLC now owns 225 shares of the semiconductor company's stock worth $47,000 after acquiring an additional 90 shares during the period.

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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