Silicon Laboratories (NASDAQ:SLAB) Hits New 1-Year High - Here's What Happened

Key Points

• Silicon Laboratories hit a new 52-week high of $213.74 (last trade $213.50) on Monday with ~275,720 shares traded and a market capitalization of about $7.02 billion; its 50-day/200-day moving averages are $206.55 and $161.64.
• Analyst sentiment is cautious: one Buy, eight Hold and one Sell produce an average rating of "Hold" and an average target of $167.78, although Citigroup raised its price target to $231 and several firms recently downgraded the stock.
• Quarterly results beat estimates but fundamentals remain mixed: the company reported EPS of $0.56 vs. $0.54 expected and revenue of $208.2M (+25.3% YoY), yet it retains a negative net margin (-8.27%), negative ROE, and analysts project -0.97 EPS for the fiscal year.

Silicon Laboratories, Inc. (NASDAQ:SLAB - Get Free Report)'s share price hit a new 52-week high on Monday . The company traded as high as $213.74 and last traded at $213.5030, with a volume of 275720 shares. The stock had previously closed at $212.89.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on SLAB. Benchmark downgraded Silicon Laboratories from a "buy" rating to a "hold" rating in a research note on Wednesday, February 4th. Weiss Ratings reissued a "sell (d-)" rating on shares of Silicon Laboratories in a report on Friday, March 27th. Citigroup increased their price objective on shares of Silicon Laboratories from $135.00 to $231.00 and gave the stock a "neutral" rating in a report on Friday, February 6th. KeyCorp downgraded shares of Silicon Laboratories from an "overweight" rating to a "hold" rating in a research report on Wednesday, February 4th. Finally, Needham & Company LLC lowered shares of Silicon Laboratories from a "buy" rating to a "hold" rating in a research note on Wednesday, February 4th. One research analyst has rated the stock with a Buy rating, eight have given a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $167.78.

Silicon Laboratories Trading Down 0.0%

The firm has a 50-day moving average of $206.55 and a 200 day moving average of $161.64. The stock has a market capitalization of $7.02 billion, a price-to-earnings ratio of -106.97 and a beta of 1.45.

Silicon Laboratories (NASDAQ:SLAB - Get Free Report) last announced its quarterly earnings results on Wednesday, February 4th. The semiconductor company reported $0.56 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.54 by $0.02. The company had revenue of $208.21 million during the quarter, compared to analyst estimates of $207.63 million. Silicon Laboratories had a negative return on equity of 4.07% and a negative net margin of 8.27%.The firm's quarterly revenue was up 25.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.11) EPS. Equities research analysts predict that Silicon Laboratories, Inc. will post -0.97 EPS for the current fiscal year.

Hedge Funds Weigh In On Silicon Laboratories

Large investors have recently bought and sold shares of the stock. Kestra Advisory Services LLC acquired a new stake in shares of Silicon Laboratories in the 4th quarter worth approximately $32,000. First Horizon Corp acquired a new stake in shares of Silicon Laboratories during the third quarter valued at approximately $35,000. EverSource Wealth Advisors LLC raised its holdings in shares of Silicon Laboratories by 45.7% during the third quarter. EverSource Wealth Advisors LLC now owns 274 shares of the semiconductor company's stock valued at $36,000 after acquiring an additional 86 shares during the period. UMB Bank n.a. lifted its position in shares of Silicon Laboratories by 43.9% in the 3rd quarter. UMB Bank n.a. now owns 282 shares of the semiconductor company's stock valued at $37,000 after acquiring an additional 86 shares in the last quarter. Finally, Covestor Ltd boosted its stake in Silicon Laboratories by 260.3% in the 4th quarter. Covestor Ltd now owns 281 shares of the semiconductor company's stock worth $37,000 after purchasing an additional 203 shares during the period.

Silicon Laboratories Company Profile

Silicon Laboratories NASDAQ: SLAB is a global semiconductor company that develops high-performance analog and mixed-signal integrated circuits, wireless system-on-chips (SoCs), microcontrollers, and radio frequency (RF) solutions. Its product portfolio is tailored to support the Internet of Things (IoT), infrastructure, industrial automation, consumer electronics, automotive, and energy markets. By combining silicon, software, and tools, Silicon Labs aims to accelerate development cycles and deliver low-power, highly integrated solutions that address demanding application requirements.

Founded in 1996 and headquartered in Austin, Texas, Silicon Labs has grown into a multinational organization with engineering and sales operations across North America, Europe, and Asia.

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