Silicon Laboratories (NASDAQ:SLAB) Stock Price Expected to Rise, Stifel Nicolaus Analyst Says

Silicon Laboratories (NASDAQ:SLAB - Free Report) had its price target boosted by Stifel Nicolaus from $144.00 to $160.00 in a report published on Friday,Benzinga reports. They currently have a buy rating on the semiconductor company's stock.

Several other research analysts also recently weighed in on the stock. Susquehanna increased their price target on shares of Silicon Laboratories from $100.00 to $110.00 and gave the stock a "neutral" rating in a research report on Wednesday, May 14th. Barclays reduced their price objective on shares of Silicon Laboratories from $120.00 to $80.00 and set an "equal weight" rating on the stock in a research report on Tuesday, April 22nd. Benchmark reiterated a "buy" rating and set a $160.00 price objective on shares of Silicon Laboratories in a research report on Tuesday, May 27th. KeyCorp boosted their target price on Silicon Laboratories from $160.00 to $180.00 and gave the company an "overweight" rating in a research report on Tuesday, July 8th. Finally, Needham & Company LLC reissued a "buy" rating and set a $150.00 price target on shares of Silicon Laboratories in a research note on Wednesday, May 14th. Four analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $134.00.

Silicon Laboratories Price Performance

SLAB stock traded up $1.30 on Friday, reaching $150.93. 56,544 shares of the company traded hands, compared to its average volume of 353,068. The company has a market cap of $4.92 billion, a P/E ratio of -29.54 and a beta of 1.47. Silicon Laboratories has a one year low of $82.82 and a one year high of $160.00. The firm has a fifty day simple moving average of $136.58 and a 200-day simple moving average of $127.93.

Silicon Laboratories (NASDAQ:SLAB - Get Free Report) last posted its earnings results on Tuesday, May 13th. The semiconductor company reported ($0.08) EPS for the quarter, topping analysts' consensus estimates 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 business had revenue of $177.71 million during the quarter, compared to the consensus estimate of $177.48 million. During the same quarter in the previous year, the firm posted ($0.92) EPS. The firm's revenue was up 67.0% on a year-over-year basis. On average, sell-side analysts forecast that Silicon Laboratories will post -0.97 EPS for the current year.

Insider Buying and Selling at Silicon Laboratories

In related news, SVP Robert J. Conrad sold 4,029 shares of the business's stock in a transaction that occurred on Friday, May 16th. The shares were 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 of the company's stock, valued at $3,329,856. The trade was a 13.70% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Christy Wyatt sold 546 shares of the firm's stock in a transaction dated Tuesday, May 6th. The shares were sold at an average price of $104.45, for a total transaction of $57,029.70. Following the completion of the sale, the director owned 8,492 shares in the company, valued at $886,989.40. This represents a 6.04% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 11,626 shares of company stock valued at $1,509,319 in the last ninety days. Corporate insiders own 1.60% of the company's stock.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the stock. FMR LLC increased its stake 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 worth $604,604,000 after acquiring an additional 23,833 shares during the period. Vanguard Group Inc. increased its holdings in Silicon Laboratories by 1.9% in 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 in the last quarter. Capital Research Global Investors increased its stake in shares of Silicon Laboratories by 23.3% during the fourth quarter. Capital Research Global Investors now owns 2,131,920 shares of the semiconductor company's stock worth $264,827,000 after purchasing an additional 403,010 shares in the last quarter. Invesco Ltd. increased 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 worth $95,654,000 after purchasing an additional 254,348 shares in the last quarter. Finally, Federated Hermes Inc. grew its stake in Silicon Laboratories by 4.1% during the 4th quarter. Federated Hermes Inc. now owns 638,464 shares of the semiconductor company's stock valued at $79,310,000 after acquiring an additional 25,178 shares in the last quarter.

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.