Analysts Set Silicon Laboratories, Inc. (NASDAQ:SLAB) Target Price at $129.00

Silicon Laboratories, Inc. (NASDAQ:SLAB - Get Free Report) has received a consensus rating of "Moderate Buy" from the eight brokerages that are currently covering the stock, MarketBeat reports. Three equities research analysts have rated the stock with a hold recommendation and five have issued a buy recommendation on the company. The average 12 month price target among brokers that have updated their coverage on the stock in the last year is $129.00.

A number of research analysts have recently issued reports on the stock. Wall Street Zen upgraded shares of Silicon Laboratories from a "sell" rating to a "hold" rating in a research note on Wednesday, May 14th. Susquehanna boosted their price target on shares of Silicon Laboratories from $100.00 to $110.00 and gave the stock a "neutral" rating in a research note on Wednesday, May 14th. Benchmark reiterated a "buy" rating and set a $160.00 price target on shares of Silicon Laboratories in a research note on Tuesday, May 27th. Needham & Company LLC reiterated a "buy" rating and set a $150.00 price target on shares of Silicon Laboratories in a research note on Wednesday, May 14th. Finally, Barclays dropped their price target on shares of Silicon Laboratories from $120.00 to $80.00 and set an "equal weight" rating on the stock in a research note on Tuesday, April 22nd.

Silicon Laboratories Stock Performance

Silicon Laboratories stock traded down $0.04 during midday trading on Thursday, hitting $142.75. 100,037 shares of the company's stock were exchanged, compared to its average volume of 350,521. Silicon Laboratories has a 12-month low of $82.82 and a 12-month high of $160.00. The stock has a market cap of $4.65 billion, a price-to-earnings ratio of -27.92 and a beta of 1.47. The firm's 50 day simple moving average is $132.62 and its 200 day simple moving average is $127.25.

Silicon Laboratories (NASDAQ:SLAB - Get Free Report) last issued its quarterly earnings data on Tuesday, May 13th. The semiconductor company reported ($0.08) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.09) by $0.01. Silicon Laboratories had a negative net margin of 25.16% and a negative return on equity of 8.80%. The company had revenue of $177.71 million for the quarter, compared to the consensus estimate of $177.48 million. During the same period last year, the firm posted ($0.92) EPS. Silicon Laboratories's revenue for the quarter was up 67.0% on a year-over-year basis. On average, equities research analysts forecast that Silicon Laboratories will post -0.97 EPS for the current fiscal year.

Insiders Place Their Bets

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

Institutional Trading of Silicon Laboratories

Several large investors have recently modified their holdings of the business. FMR LLC grew its position in shares of Silicon Laboratories by 0.5% in the fourth quarter. FMR LLC now owns 4,867,203 shares of the semiconductor company's stock valued at $604,604,000 after purchasing an additional 23,833 shares during the last quarter. Vanguard Group Inc. grew its position in shares of Silicon Laboratories by 1.9% in the fourth quarter. Vanguard Group Inc. now owns 3,959,580 shares of the semiconductor company's stock valued at $491,859,000 after purchasing an additional 71,942 shares during the last quarter. Capital Research Global Investors grew its position in shares of Silicon Laboratories by 23.3% in the fourth quarter. Capital Research Global Investors now owns 2,131,920 shares of the semiconductor company's stock valued at $264,827,000 after purchasing an additional 403,010 shares during the last quarter. Invesco Ltd. lifted its stake in shares of Silicon Laboratories by 42.7% during the first quarter. Invesco Ltd. now owns 849,730 shares of the semiconductor company's stock valued at $95,654,000 after buying an additional 254,348 shares during the period. Finally, Federated Hermes Inc. lifted its stake in shares of Silicon Laboratories by 4.1% during the fourth quarter. Federated Hermes Inc. now owns 638,464 shares of the semiconductor company's stock valued at $79,310,000 after buying an additional 25,178 shares during the period.

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.