Silicon Laboratories (NASDAQ:SLAB) Reaches New 1-Year High - Here's Why

Key Points

• New 52-week high: Silicon Laboratories shares traded as high as $209.01 (last ~ $208.33) during mid-day trading, with a market cap of about $6.89 billion and 50/200‑day moving averages of $192.98/$154.60.
• Mixed analyst views but consensus is "Hold": One Buy, eight Hold and one Sell give an average price target of $167.78, although Citigroup raised its target to $231 and RBC to $205.
• Quarterly beat amid structural weakness: Q results beat estimates (EPS $0.56 vs $0.54) and revenue rose 25.3% y/y to $208.21M, but the company reported a negative net margin (-8.27%) and analysts expect -0.97 EPS for the fiscal year.

Silicon Laboratories, Inc. (NASDAQ:SLAB - Get Free Report) reached a new 52-week high during mid-day trading on Wednesday . The company traded as high as $209.01 and last traded at $208.3250, with a volume of 2039 shares trading hands. The stock had previously closed at $208.15.

Analysts Set New Price Targets

SLAB has been the topic of several analyst reports. KeyCorp lowered shares of Silicon Laboratories from an "overweight" rating to a "hold" rating in a research note on Wednesday, February 4th. Benchmark cut shares of Silicon Laboratories from a "buy" rating to a "hold" rating in a report on Wednesday, February 4th. Citigroup increased their target price on shares of Silicon Laboratories from $135.00 to $231.00 and gave the stock a "neutral" rating in a research report on Friday, February 6th. Royal Bank Of Canada raised their target price on Silicon Laboratories from $160.00 to $205.00 and gave the company a "sector perform" rating in a report on Thursday, February 5th. Finally, Needham & Company LLC cut Silicon Laboratories from a "buy" rating to a "hold" rating in a research report on Wednesday, February 4th. One analyst has rated the stock with a Buy rating, eight have issued a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $167.78.

Silicon Laboratories Price Performance

The stock's 50 day moving average price is $192.98 and its two-hundred day moving average price is $154.60. The firm has a market capitalization of $6.89 billion, a price-to-earnings ratio of -104.94 and a beta of 1.46.

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

Insiders Place Their Bets

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

Institutional Investors Weigh In On Silicon Laboratories

Several hedge funds have recently modified their holdings of the business. Vident Advisory LLC boosted its stake in Silicon Laboratories by 2.5% in the 4th quarter. Vident Advisory LLC now owns 3,018 shares of the semiconductor company's stock worth $394,000 after purchasing an additional 74 shares during the period. UMB Bank n.a. raised its stake 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 purchasing an additional 86 shares during the period. EverSource Wealth Advisors LLC lifted its holdings in shares of Silicon Laboratories by 45.7% in the third quarter. EverSource Wealth Advisors LLC now owns 274 shares of the semiconductor company's stock valued at $36,000 after purchasing an additional 86 shares in the last quarter. Bank of Montreal Can boosted its position in shares of Silicon Laboratories by 2.9% during the fourth quarter. Bank of Montreal Can now owns 3,355 shares of the semiconductor company's stock worth $438,000 after buying an additional 96 shares during the period. Finally, Inspire Investing LLC boosted its position in shares of Silicon Laboratories by 3.1% during the fourth quarter. Inspire Investing LLC now owns 3,585 shares of the semiconductor company's stock worth $469,000 after buying an additional 109 shares during the period.

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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