Silicon Laboratories (NASDAQ:SLAB - Get Free Report) had its price target hoisted by equities researchers at Stifel Nicolaus from $144.00 to $160.00 in a research note issued on Friday,Benzinga reports. The brokerage presently has a "buy" rating on the semiconductor company's stock. Stifel Nicolaus' price target points to a potential upside of 10.59% from the company's current price.
A number of other equities analysts have also recently weighed in on SLAB. KeyCorp upped their price target on shares of Silicon Laboratories from $160.00 to $180.00 and gave the stock an "overweight" rating in a research note on Tuesday, July 8th. Benchmark restated a "buy" rating and issued a $160.00 target price on shares of Silicon Laboratories in a report on Tuesday, May 27th. Barclays reduced their target price on shares of Silicon Laboratories from $120.00 to $80.00 and set an "equal weight" rating on the stock in a report on Tuesday, April 22nd. Susquehanna increased their price objective on shares of Silicon Laboratories from $100.00 to $110.00 and gave the company a "neutral" rating in a research report on Wednesday, May 14th. Finally, Needham & Company LLC reaffirmed a "buy" rating and issued a $150.00 price objective on shares of Silicon Laboratories in a research report on Wednesday, May 14th. Four analysts have rated the stock with a hold rating and five have issued a buy rating to the company's stock. According to data from MarketBeat.com, Silicon Laboratories has a consensus rating of "Moderate Buy" and a consensus target price of $134.00.
Check Out Our Latest Research Report on SLAB
Silicon Laboratories Price Performance
Shares of NASDAQ:SLAB traded down $0.72 during trading on Friday, hitting $144.68. 32,386 shares of the company were exchanged, compared to its average volume of 352,129. The stock has a market capitalization of $4.71 billion, a P/E ratio of -28.34 and a beta of 1.47. Silicon Laboratories has a 12-month low of $82.82 and a 12-month high of $160.00. The firm's 50 day moving average price is $135.93 and its 200-day moving average price is $127.71.
Silicon Laboratories (NASDAQ:SLAB - Get Free Report) last released its quarterly earnings results on Tuesday, May 13th. The semiconductor company reported ($0.08) EPS for the quarter, beating the consensus estimate of ($0.09) by $0.01. The firm had revenue of $177.71 million during the quarter, compared to the consensus estimate of $177.48 million. Silicon Laboratories had a negative net margin of 25.16% and a negative return on equity of 8.80%. Silicon Laboratories's revenue for the quarter was up 67.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($0.92) EPS. As a group, equities research analysts anticipate that Silicon Laboratories will post -0.97 EPS for the current year.
Insider Activity
In other news, SVP Robert J. Conrad sold 4,029 shares of the firm's stock in a transaction on Friday, May 16th. The stock was 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 of the company's stock, valued at approximately $3,329,856. This trade represents a 13.70% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Robert Matthew Johnson sold 5,879 shares of the firm's stock in a transaction on Friday, May 16th. The shares were sold at an average price of $131.20, for a total value of $771,324.80. Following the transaction, the chief executive officer directly owned 73,688 shares in the company, valued at $9,667,865.60. This trade represents a 7.39% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 11,626 shares of company stock valued at $1,509,319. 1.60% of the stock is currently owned by company insiders.
Institutional Inflows and Outflows
A number of hedge funds have recently bought and sold shares of the company. FMR LLC increased its stake in Silicon Laboratories by 0.5% in the 4th quarter. FMR LLC now owns 4,867,203 shares of the semiconductor company's stock worth $604,604,000 after purchasing an additional 23,833 shares in the last quarter. Vanguard Group Inc. boosted its position in Silicon Laboratories by 1.9% during the 4th quarter. Vanguard Group Inc. now owns 3,959,580 shares of the semiconductor company's stock worth $491,859,000 after acquiring an additional 71,942 shares during the period. Capital Research Global Investors boosted 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 acquiring an additional 403,010 shares during the period. Invesco Ltd. boosted its position in Silicon Laboratories by 42.7% during the 1st quarter. Invesco Ltd. now owns 849,730 shares of the semiconductor company's stock worth $95,654,000 after acquiring an additional 254,348 shares during the period. Finally, Federated Hermes Inc. boosted its position in Silicon Laboratories by 4.1% during the 4th quarter. Federated Hermes Inc. now owns 638,464 shares of the semiconductor company's stock worth $79,310,000 after acquiring an additional 25,178 shares during the period.
About Silicon Laboratories
(
Get Free Report)
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.
Recommended Stories
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.
Before you consider Silicon Laboratories, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Silicon Laboratories wasn't on the list.
While Silicon Laboratories currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Thinking about investing in Meta, Roblox, or Unity? Enter your email to learn what streetwise investors need to know about the metaverse and public markets before making an investment.
Get This Free Report
