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

Key Points

• Analysts give Silicon Laboratories an average “Reduce” rating: one analyst rates the stock a sell and five recommend holding it, with an average 12-month price target of $218—roughly in line with its $218.30 opening price.
• Quarterly results slightly exceeded expectations: Silicon Laboratories reported adjusted EPS of $0.71 versus the $0.69 consensus estimate and revenue of $228.19 million, up 18.3% year over year.
• Insider activity was negative, while institutions increased holdings: CEO Robert Matthew Johnson sold 8,024 shares, reducing his position by 9.06%, while several major investors, including Vanguard and Assenagon Asset Management, boosted their stakes.

Shares of Silicon Laboratories, Inc. (NASDAQ:SLAB - Get Free Report) have received an average recommendation of "Reduce" from the six analysts that are currently covering the firm, MarketBeat reports. One research analyst has rated the stock with a sell rating and five have assigned a hold rating to the company. The average 1-year price target among analysts that have covered the stock in the last year is $218.00.

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

Silicon Laboratories Stock Performance

SLAB opened at $218.30 on Friday. The company has a market cap of $7.28 billion, a PE ratio of -185.00 and a beta of 1.37. The stock has a 50-day moving average of $218.28 and a 200-day moving average of $209.82. Silicon Laboratories has a 52-week low of $115.50 and a 52-week high of $220.90.

Silicon Laboratories (NASDAQ:SLAB - Get Free Report) last issued its quarterly earnings data on Tuesday, August 11th. The semiconductor company reported $0.71 earnings per share for the quarter, beating analysts' consensus estimates of $0.69 by $0.02. Silicon Laboratories had a negative return on equity of 0.66% and a negative net margin of 4.57%.The business had revenue of $228.19 million for the quarter, compared to the consensus estimate of $227.99 million. During the same period last year, the business earned $0.11 EPS. The firm's revenue was up 18.3% compared to the same quarter last year. On average, research analysts predict that Silicon Laboratories will post 0.74 earnings per share for the current year.

Insider Buying and Selling at Silicon Laboratories

In related news, CEO Robert Matthew Johnson sold 8,024 shares of the company's stock in a transaction on Monday, May 18th. The shares were 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. This represents a 9.06% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 1.60% of the company's stock.

Hedge Funds Weigh In On Silicon Laboratories

Institutional investors have recently made changes to their positions in the business. California State Teachers Retirement System raised its holdings in Silicon Laboratories by 21.5% in the 1st quarter. California State Teachers Retirement System now owns 38,003 shares of the semiconductor company's stock valued at $7,910,000 after acquiring an additional 6,737 shares in the last quarter. Vanguard Group Inc. lifted its holdings in shares of Silicon Laboratories by 3.1% during the 4th quarter. Vanguard Group Inc. now owns 3,992,407 shares of the semiconductor company's stock worth $521,808,000 after acquiring an additional 121,432 shares during the period. Assenagon Asset Management S.A. boosted its position in shares of Silicon Laboratories by 395.2% during the 1st quarter. Assenagon Asset Management S.A. now owns 239,318 shares of the semiconductor company's stock valued at $49,814,000 after acquiring an additional 190,994 shares in the last quarter. Hsbc Holdings PLC boosted its holdings in Silicon Laboratories by 74.3% during the fourth quarter. Hsbc Holdings PLC now owns 11,558 shares of the semiconductor company's stock valued at $1,516,000 after purchasing an additional 4,927 shares in the last quarter. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its stake in Silicon Laboratories by 122.1% in the 1st quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 18,257 shares of the semiconductor company's stock valued at $3,800,000 after buying an additional 10,036 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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