Needham & Company LLC Reiterates Buy Rating for Silicon Laboratories (NASDAQ:SLAB)

Silicon Laboratories (NASDAQ:SLAB - Get Free Report)'s stock had its "buy" rating reaffirmed by Needham & Company LLC in a report released on Wednesday,Benzinga reports. They currently have a $150.00 price target on the semiconductor company's stock. Needham & Company LLC's price objective indicates a potential upside of 14.36% from the company's current price.

SLAB has been the topic of a number of other reports. Benchmark restated a "buy" rating and issued a $160.00 target price on shares of Silicon Laboratories in a report on Wednesday. KeyCorp lifted their target price on Silicon Laboratories from $115.00 to $160.00 and gave the stock an "overweight" rating in a report on Wednesday, January 22nd. Barclays decreased their target price on Silicon Laboratories from $120.00 to $80.00 and set an "equal weight" rating on the stock in a report on Tuesday, April 22nd. Stifel Nicolaus lowered their price target on Silicon Laboratories from $145.00 to $120.00 and set a "buy" rating on the stock in a report on Thursday, April 17th. Finally, StockNews.com downgraded Silicon Laboratories from a "hold" rating to a "sell" rating in a report on Thursday, March 27th. Four investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $126.50.

Silicon Laboratories Trading Down 1.5%

Shares of NASDAQ SLAB traded down $2.01 during mid-day trading on Wednesday, reaching $131.16. The company had a trading volume of 513,274 shares, compared to its average volume of 335,576. The stock has a market cap of $4.26 billion, a PE ratio of -22.08 and a beta of 1.36. The company has a 50-day moving average price of $108.72 and a two-hundred day moving average price of $121.03. Silicon Laboratories has a 1-year low of $82.82 and a 1-year high of $160.00.

Insider Activity at Silicon Laboratories

In other Silicon Laboratories news, SVP Robert J. Conrad sold 1,172 shares of the business's stock in a transaction dated Tuesday, May 13th. The stock was sold at an average price of $130.00, for a total value of $152,360.00. Following the completion of the sale, the senior vice president now owns 15,972 shares of the company's stock, valued at $2,076,360. The trade was a 6.84% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Christy Wyatt sold 546 shares of the business'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 now directly owns 8,492 shares of the company's stock, valued at $886,989.40. This represents a 6.04% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 2,718 shares of company stock valued at $358,820. Insiders own 1.60% of the company's stock.

Hedge Funds Weigh In On Silicon Laboratories

Large investors have recently made changes to their positions in the business. Quarry LP bought a new position in Silicon Laboratories during the first quarter valued at about $25,000. Jones Financial Companies Lllp increased its stake in Silicon Laboratories by 44.5% during the fourth quarter. Jones Financial Companies Lllp now owns 224 shares of the semiconductor company's stock valued at $28,000 after acquiring an additional 69 shares during the period. Skandinaviska Enskilda Banken AB publ bought a new position in Silicon Laboratories during the first quarter valued at about $34,000. UMB Bank n.a. increased its stake in Silicon Laboratories by 111.3% during the first quarter. UMB Bank n.a. now owns 336 shares of the semiconductor company's stock valued at $38,000 after acquiring an additional 177 shares during the period. Finally, Parallel Advisors LLC increased its stake in Silicon Laboratories by 143.7% during the first quarter. Parallel Advisors LLC now owns 463 shares of the semiconductor company's stock valued at $52,000 after acquiring 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.