Silicon Laboratories (NASDAQ:SLAB) Hits New 52-Week High - What's Next?

Key Points

• 52-week high: Silicon Laboratories hit an intraday high of $210.11 and was last at $210.00 on volume of 463,162, trading well above its 50-day ($197.90) and 200-day ($156.64) moving averages with a market cap of $6.92 billion.
• Analyst actions are mixed — Citigroup raised its target to $231 (neutral) and RBC to $205, but the consensus rating remains a Hold with a $167.78 average price target, below the current share price.
• Quarterly results slightly beat estimates (EPS $0.56 vs. $0.54; revenue $208.21M, +25.3% YoY), yet the company still shows a negative net margin (-8.27%) and analysts expect roughly -0.97 EPS for the fiscal year.

Silicon Laboratories, Inc. (NASDAQ:SLAB - Get Free Report) shares hit a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $210.11 and last traded at $210.00, with a volume of 463162 shares. The stock had previously closed at $209.49.

Analyst Ratings Changes

Several equities research analysts have issued reports on SLAB shares. Citigroup lifted their target price on shares of Silicon Laboratories from $135.00 to $231.00 and gave the stock a "neutral" rating in a research note on Friday, February 6th. Weiss Ratings reissued a "sell (d-)" rating on shares of Silicon Laboratories in a research report on Friday, March 27th. Needham & Company LLC cut shares of Silicon Laboratories from a "buy" rating to a "hold" rating in a research report on Wednesday, February 4th. Royal Bank Of Canada boosted their price target on shares of Silicon Laboratories from $160.00 to $205.00 and gave the company a "sector perform" rating in a research report on Thursday, February 5th. Finally, Benchmark cut shares of Silicon Laboratories from a "buy" rating to a "hold" rating in a research report on Wednesday, February 4th. One investment analyst has rated the stock with a Buy rating, eight have issued a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $167.78.

Silicon Laboratories Stock Performance

The firm's 50-day moving average price is $197.90 and its two-hundred day moving average price is $156.64. The stock has a market cap of $6.92 billion, a price-to-earnings ratio of -105.53 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 for the quarter, beating the consensus estimate of $0.54 by $0.02. The firm had revenue of $208.21 million for the quarter, compared to analysts' expectations of $207.63 million. Silicon Laboratories had a negative net margin of 8.27% and a negative return on equity of 4.07%. The company's revenue was up 25.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.11) EPS. As a group, sell-side analysts expect that Silicon Laboratories, Inc. will post -0.97 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Silicon Laboratories news, Director Nina Richardson sold 1,355 shares of the company's stock in a transaction dated Tuesday, January 13th. The shares were sold at an average price of $149.00, for a total value of $201,895.00. Following the transaction, the director owned 8,543 shares of the company's stock, valued at $1,272,907. This represents a 13.69% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. 1.60% of the stock is owned by insiders.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Mitsubishi UFJ Trust & Banking Corp acquired a new position in Silicon Laboratories in the third quarter valued at about $1,192,000. Azzad Asset Management Inc. ADV acquired a new position in Silicon Laboratories in the third quarter valued at about $924,000. Thrivent Financial for Lutherans lifted its position in Silicon Laboratories by 109.4% in the third quarter. Thrivent Financial for Lutherans now owns 113,337 shares of the semiconductor company's stock valued at $14,862,000 after buying an additional 59,207 shares during the last quarter. Pacer Advisors Inc. acquired a new position in Silicon Laboratories in the third quarter valued at about $568,000. Finally, Assenagon Asset Management S.A. acquired a new position in Silicon Laboratories in the third quarter valued at about $10,909,000.

About Silicon Laboratories

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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