Silicon Laboratories (NASDAQ:SLAB) Reaches New 52-Week High - Should You Buy?

Key Points

• Silicon Laboratories shares hit a new 52-week high near $216, trading above its 50-day ($207.70) and 200-day ($165.71) moving averages with a market capitalization of about $7.15 billion.
• Analysts hold a consensus Hold rating with an average price target of $167.78—well below the current price—even as some firms raised targets (up to $231) and several downgraded their ratings.
• The company beat quarterly EPS ($0.56 vs. $0.54) and revenue estimates with revenue up 25.3% year-over-year, but remains unprofitable with a negative net margin (-8.27%), negative ROE, and a negative P/E.

Silicon Laboratories, Inc. (NASDAQ:SLAB - Get Free Report) shares hit a new 52-week high on Wednesday . The stock traded as high as $216.55 and last traded at $216.27, with a volume of 26267 shares. The stock had previously closed at $215.71.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on SLAB shares. Benchmark cut shares of Silicon Laboratories from a "buy" rating to a "hold" rating in a research note on Wednesday, February 4th. Needham & Company LLC cut shares of Silicon Laboratories from a "buy" rating to a "hold" rating in a research note on Wednesday, February 4th. Citigroup raised their target price on shares of Silicon Laboratories from $135.00 to $231.00 and gave the company a "neutral" rating in a research note on Friday, February 6th. Royal Bank Of Canada raised their target price on shares of Silicon Laboratories from $160.00 to $205.00 and gave the company a "sector perform" rating in a research note on Thursday, February 5th. Finally, KeyCorp cut shares of Silicon Laboratories from an "overweight" rating to a "hold" rating in a research note on Wednesday, February 4th. One analyst has rated the stock with a Buy rating, eight have given a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target of $167.78.

Silicon Laboratories Price Performance

The firm's 50 day moving average is $207.70 and its two-hundred day moving average is $165.71. The firm has a market capitalization of $7.15 billion, a P/E ratio of -108.96 and a beta of 1.45.

Silicon Laboratories (NASDAQ:SLAB - Get Free Report) last released its quarterly earnings data on Wednesday, February 4th. The semiconductor company reported $0.56 EPS for the quarter, topping analysts' consensus estimates 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 during the quarter, compared to analysts' expectations of $207.63 million. During the same period in the previous year, the business posted ($0.11) earnings per share. The company's revenue for the quarter was up 25.3% compared to the same quarter last year. Analysts anticipate that Silicon Laboratories, Inc. will post 0.71 EPS for the current fiscal year.

Hedge Funds Weigh In On Silicon Laboratories

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in SLAB. Norges Bank bought a new position in Silicon Laboratories during the fourth quarter worth $56,008,000. Thrivent Financial for Lutherans boosted its position in Silicon Laboratories by 312.9% during the fourth quarter. Thrivent Financial for Lutherans now owns 467,958 shares of the semiconductor company's stock worth $61,162,000 after purchasing an additional 354,621 shares during the period. AQR Capital Management LLC boosted its position in Silicon Laboratories by 1,970.7% during the second quarter. AQR Capital Management LLC now owns 370,492 shares of the semiconductor company's stock worth $54,516,000 after purchasing an additional 352,600 shares during the period. Westfield Capital Management Co. LP bought a new position in Silicon Laboratories during the third quarter worth $44,887,000. Finally, Assenagon Asset Management S.A. boosted its position in Silicon Laboratories by 395.2% during the first quarter. Assenagon Asset Management S.A. now owns 239,318 shares of the semiconductor company's stock worth $49,814,000 after purchasing an additional 190,994 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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