Silicon Laboratories Inc. (NASDAQ:SLAB) Receives $129.00 Consensus Target Price from Brokerages

Shares of Silicon Laboratories Inc. (NASDAQ:SLAB - Get Free Report) have earned an average recommendation of "Moderate Buy" from the eight research firms that are currently covering the firm, Marketbeat.com reports. Three equities research analysts have rated the stock with a hold rating and five have issued a buy rating on the company. The average 1-year price target among analysts that have updated their coverage on the stock in the last year is $129.00.

SLAB has been the subject of a number of recent analyst reports. KeyCorp increased their price target on Silicon Laboratories from $115.00 to $160.00 and gave the stock an "overweight" rating in a report on Wednesday, January 22nd. Barclays lowered their target price on Silicon Laboratories from $120.00 to $80.00 and set an "equal weight" rating for the company in a report on Tuesday, April 22nd. StockNews.com cut Silicon Laboratories from a "hold" rating to a "sell" rating in a report on Thursday, March 27th. Benchmark reiterated a "buy" rating and issued a $160.00 price objective on shares of Silicon Laboratories in a research note on Wednesday, March 12th. Finally, Stifel Nicolaus reduced their price target on shares of Silicon Laboratories from $145.00 to $120.00 and set a "buy" rating for the company in a report on Thursday, April 17th.

Insider Activity at Silicon Laboratories

In other Silicon Laboratories news, Director Navdeep S. Sooch sold 2,360 shares of the stock in a transaction dated Wednesday, February 5th. The shares were sold at an average price of $149.00, for a total transaction of $351,640.00. Following the completion of the transaction, the director now owns 400,567 shares in the company, valued at $59,684,483. This trade represents a 0.59 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director William G. Bock sold 1,000 shares of Silicon Laboratories stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $149.43, for a total transaction of $149,430.00. Following the completion of the transaction, the director now owns 31,115 shares of the company's stock, valued at $4,649,514.45. This represents a 3.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.60% of the stock is owned by insiders.

Hedge Funds Weigh In On Silicon Laboratories

Large investors have recently made changes to their positions in the stock. Jones Financial Companies Lllp boosted its stake in Silicon Laboratories by 44.5% in the 4th quarter. Jones Financial Companies Lllp now owns 224 shares of the semiconductor company's stock worth $28,000 after purchasing an additional 69 shares during the period. UMB Bank n.a. grew its position in shares of Silicon Laboratories by 111.3% during the 1st quarter. UMB Bank n.a. now owns 336 shares of the semiconductor company's stock valued at $38,000 after purchasing an additional 177 shares in the last quarter. Parallel Advisors LLC increased its holdings in shares of Silicon Laboratories by 143.7% in the first quarter. Parallel Advisors LLC now owns 463 shares of the semiconductor company's stock worth $52,000 after purchasing an additional 273 shares during the period. Headlands Technologies LLC bought a new stake in Silicon Laboratories during the fourth quarter valued at $70,000. Finally, Venturi Wealth Management LLC grew its position in Silicon Laboratories by 207.0% during the fourth quarter. Venturi Wealth Management LLC now owns 786 shares of the semiconductor company's stock worth $98,000 after buying an additional 530 shares in the last quarter.

Silicon Laboratories Stock Performance

Shares of NASDAQ:SLAB traded up $1.12 during mid-day trading on Friday, reaching $102.88. 33,287 shares of the company's stock were exchanged, compared to its average volume of 410,703. The firm has a market capitalization of $3.34 billion, a price-to-earnings ratio of -17.32 and a beta of 1.33. Silicon Laboratories has a twelve month low of $82.82 and a twelve month high of $160.00. The business's fifty day moving average price is $113.38 and its 200-day moving average price is $120.73.

Silicon Laboratories (NASDAQ:SLAB - Get Free Report) last issued its quarterly earnings results on Tuesday, February 4th. The semiconductor company reported ($0.11) earnings per share for the quarter, meeting the consensus estimate of ($0.11). Silicon Laboratories had a negative return on equity of 10.46% and a negative net margin of 32.69%. The company had revenue of $166.25 million during the quarter, compared to analysts' expectations of $166.09 million. During the same quarter in the prior year, the firm posted ($1.19) earnings per share. The business's quarterly revenue was up 91.4% on a year-over-year basis. Analysts predict that Silicon Laboratories will post -0.97 EPS for the current fiscal year.

Silicon Laboratories Company Profile

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.