Silicon Laboratories, Inc. (NASDAQ:SLAB) Given Consensus Rating of "Moderate Buy" by Brokerages

Key Points

• Silicon Laboratories, Inc. has received a consensus rating of "Moderate Buy" from eight brokerages, with an average twelve-month price target set at $139.00.
• KeyCorp recently raised its price objective for Silicon Laboratories from $160.00 to $180.00 and maintained an "overweight" rating, reflecting positive sentiment among analysts.
• The company reported a revenue increase of 67.0% year-over-year for its last quarter, although it still posted a loss with ($0.08) earnings per share.

Shares of Silicon Laboratories, Inc. (NASDAQ:SLAB - Get Free Report) have been given a consensus recommendation of "Moderate Buy" by the eight research firms that are covering the company, Marketbeat reports. Three analysts have rated the stock with a hold recommendation and five have assigned a buy recommendation to the company. The average 12 month target price among analysts that have updated their coverage on the stock in the last year is $145.25.

A number of brokerages have recently commented on SLAB. Needham & Company LLC reaffirmed a "buy" rating and issued a $150.00 target price on shares of Silicon Laboratories in a report on Wednesday, May 14th. KeyCorp upped their price target on shares of Silicon Laboratories from $160.00 to $180.00 and gave the company an "overweight" rating in a report on Tuesday, July 8th. Susquehanna upped their price objective on shares of Silicon Laboratories from $110.00 to $150.00 and gave the company a "neutral" rating in a research note on Tuesday, July 22nd. Stifel Nicolaus boosted their target price on Silicon Laboratories from $144.00 to $160.00 and gave the stock a "buy" rating in a report on Friday, July 18th. Finally, Benchmark reaffirmed a "buy" rating and set a $160.00 price target on shares of Silicon Laboratories in a research report on Tuesday, May 27th.

Silicon Laboratories Stock Performance

Shares of NASDAQ:SLAB traded down $6.79 during trading on Monday, hitting $126.76. The company's stock had a trading volume of 1,071,023 shares, compared to its average volume of 437,144. Silicon Laboratories has a fifty-two week low of $82.82 and a fifty-two week high of $160.00. The company has a market capitalization of $4.13 billion, a PE ratio of -24.81 and a beta of 1.48. The business has a 50 day moving average price of $138.54 and a two-hundred day moving average price of $128.30.

Silicon Laboratories (NASDAQ:SLAB - Get Free Report) last issued its quarterly earnings data on Tuesday, August 5th. The semiconductor company reported $0.11 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.09 by $0.02. The company had revenue of $192.85 million for the quarter, compared to analyst estimates of $192.57 million. Silicon Laboratories had a negative return on equity of 8.80% and a negative net margin of 25.16%. The business's quarterly revenue was up 32.6% compared to the same quarter last year. During the same quarter last year, the company posted ($0.56) earnings per share. As a group, equities analysts expect that Silicon Laboratories will post -0.97 earnings per share for the current fiscal year.

Insider Transactions at Silicon Laboratories

In other Silicon Laboratories news, SVP Robert J. Conrad sold 4,029 shares of the firm's stock in a transaction dated Friday, May 16th. The shares were sold at an average price of $131.20, for a total transaction of $528,604.80. Following the transaction, the senior vice president owned 25,380 shares of the company's stock, valued at approximately $3,329,856. This trade represents a 13.70% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Robert Matthew Johnson sold 5,879 shares of the company's stock in a transaction dated Friday, May 16th. The shares were sold at an average price of $131.20, for a total transaction of $771,324.80. Following the completion of the sale, the chief executive officer directly owned 73,688 shares of the company's stock, valued at $9,667,865.60. The trade was a 7.39% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 11,080 shares of company stock worth $1,452,290. Corporate insiders own 1.60% of the company's stock.

Hedge Funds Weigh In On Silicon Laboratories

A number of institutional investors have recently modified their holdings of SLAB. Capital Research Global Investors lifted its position in Silicon Laboratories by 23.3% during the 4th quarter. Capital Research Global Investors now owns 2,131,920 shares of the semiconductor company's stock worth $264,827,000 after buying an additional 403,010 shares in the last quarter. Westfield Capital Management Co. LP acquired a new position in Silicon Laboratories during the 1st quarter worth about $37,249,000. Nuveen LLC acquired a new position in Silicon Laboratories during the 1st quarter worth about $32,338,000. Adage Capital Partners GP L.L.C. lifted its position in Silicon Laboratories by 116.7% during the 1st quarter. Adage Capital Partners GP L.L.C. now owns 525,022 shares of the semiconductor company's stock worth $59,102,000 after buying an additional 282,785 shares in the last quarter. Finally, Norges Bank bought a new stake in Silicon Laboratories during the 4th quarter worth about $34,622,000.

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.