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

Shares of Silicon Laboratories, Inc. (NASDAQ:SLAB - Get Free Report) have been assigned a consensus recommendation of "Moderate Buy" from the eight ratings firms that are covering the stock, Marketbeat Ratings reports. Three analysts have rated the stock with a hold rating and five have given a buy rating to the company. The average twelve-month price objective among brokers that have issued a report on the stock in the last year is $129.00.

A number of research firms recently commented on SLAB. KeyCorp increased their price objective on Silicon Laboratories from $160.00 to $180.00 and gave the company an "overweight" rating in a research note on Tuesday, July 8th. Needham & Company LLC reiterated a "buy" rating and set a $150.00 target price on shares of Silicon Laboratories in a research report on Wednesday, May 14th. Wall Street Zen upgraded Silicon Laboratories from a "sell" rating to a "hold" rating in a research report on Wednesday, May 14th. Stifel Nicolaus reduced their target price on Silicon Laboratories from $145.00 to $120.00 and set a "buy" rating on the stock in a research report on Thursday, April 17th. Finally, Benchmark reiterated a "buy" rating and set a $160.00 target price on shares of Silicon Laboratories in a research report on Tuesday, May 27th.

Silicon Laboratories Stock Down 0.2%

Shares of SLAB traded down $0.28 during trading hours on Thursday, reaching $142.51. 393,013 shares of the company traded hands, compared to its average volume of 352,768. The stock has a market capitalization of $4.64 billion, a PE ratio of -27.89 and a beta of 1.47. Silicon Laboratories has a fifty-two week low of $82.82 and a fifty-two week high of $160.00. The stock has a fifty day simple moving average of $133.32 and a 200 day simple moving average of $127.34.

Silicon Laboratories (NASDAQ:SLAB - Get Free Report) last posted its quarterly earnings data on Tuesday, May 13th. The semiconductor company reported ($0.08) EPS for the quarter, beating analysts' consensus estimates of ($0.09) by $0.01. The business had revenue of $177.71 million for the quarter, compared to analyst estimates of $177.48 million. Silicon Laboratories had a negative return on equity of 8.80% and a negative net margin of 25.16%. The business's revenue for the quarter was up 67.0% compared to the same quarter last year. During the same quarter last year, the company earned ($0.92) earnings per share. Research analysts predict that Silicon Laboratories will post -0.97 EPS for the current fiscal year.

Insider Transactions at Silicon Laboratories

In other news, Director Christy Wyatt sold 546 shares of the firm's stock in a transaction dated Tuesday, May 6th. The stock was sold at an average price of $104.45, for a total value of $57,029.70. Following the transaction, the director directly owned 8,492 shares in the company, valued at $886,989.40. This trade represents a 6.04% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP Robert J. Conrad sold 4,029 shares of the firm's stock in a transaction dated Friday, May 16th. The stock was sold at an average price of $131.20, for a total value of $528,604.80. Following the completion of the transaction, the senior vice president owned 25,380 shares in the company, valued at approximately $3,329,856. This trade represents a 13.70% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 11,626 shares of company stock worth $1,509,319 in the last three months. 1.60% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Silicon Laboratories

A number of large investors have recently modified their holdings of SLAB. Quarry LP purchased a new position in shares of Silicon Laboratories in the 1st quarter worth about $25,000. Jones Financial Companies Lllp raised its holdings in shares of Silicon Laboratories by 44.5% during the 4th quarter. Jones Financial Companies Lllp now owns 224 shares of the semiconductor company's stock valued at $28,000 after buying an additional 69 shares during the period. Skandinaviska Enskilda Banken AB publ purchased a new stake in shares of Silicon Laboratories during the 1st quarter valued at about $34,000. UMB Bank n.a. raised its holdings 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 buying an additional 177 shares during the period. Finally, Parallel Advisors LLC raised its holdings in shares of Silicon Laboratories by 143.7% during the 1st quarter. Parallel Advisors LLC now owns 463 shares of the semiconductor company's stock valued at $52,000 after buying an additional 273 shares during the period.

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.