Benchmark Reaffirms Buy Rating for Silicon Laboratories (NASDAQ:SLAB)

Silicon Laboratories (NASDAQ:SLAB - Get Free Report)'s stock had its "buy" rating restated by Benchmark in a report issued on Wednesday,Benzinga reports. They currently have a $160.00 price objective on the semiconductor company's stock. Benchmark's price objective points to a potential upside of 21.99% from the company's current price.

SLAB has been the subject of a number of other reports. Needham & Company LLC reissued a "buy" rating and issued a $150.00 price target on shares of Silicon Laboratories in a report on Wednesday, March 12th. StockNews.com downgraded shares of Silicon Laboratories from a "hold" rating to a "sell" rating in a report on Thursday, March 27th. Stifel Nicolaus cut their price target on shares of Silicon Laboratories from $145.00 to $120.00 and set a "buy" rating for the company in a report on Thursday, April 17th. KeyCorp upped their price target on shares of Silicon Laboratories from $115.00 to $160.00 and gave the company an "overweight" rating in a report on Wednesday, January 22nd. Finally, Barclays cut their price target on shares of Silicon Laboratories from $120.00 to $80.00 and set an "equal weight" rating for the company in a report on Tuesday, April 22nd. Four research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $126.50.

Silicon Laboratories Trading Down 1.5%

SLAB stock traded down $2.01 during trading on Wednesday, hitting $131.16. The company had a trading volume of 513,274 shares, compared to its average volume of 336,453. The firm has a market capitalization of $4.26 billion, a price-to-earnings ratio of -22.08 and a beta of 1.36. The business has a 50 day moving average of $108.72 and a 200 day moving average of $121.09. Silicon Laboratories has a fifty-two week low of $82.82 and a fifty-two week high of $160.00.

Silicon Laboratories (NASDAQ:SLAB - Get Free Report) last posted its quarterly earnings data on Tuesday, May 13th. The semiconductor company reported ($0.08) earnings per share for the quarter, topping the consensus estimate of ($0.09) by $0.01. The business had revenue of $177.71 million during the quarter, compared to the consensus estimate of $177.48 million. Silicon Laboratories had a negative net margin of 32.69% and a negative return on equity of 10.46%. The company's quarterly revenue was up 67.0% compared to the same quarter last year. During the same quarter in the prior year, the company posted ($0.92) earnings per share. As a group, equities analysts predict that Silicon Laboratories will post -0.97 EPS for the current year.

Insider Buying and Selling at Silicon Laboratories

In other Silicon Laboratories news, SVP Robert J. Conrad sold 1,172 shares of the company's stock in a transaction dated Tuesday, May 13th. The shares were sold at an average price of $130.00, for a total transaction of $152,360.00. Following the completion of the sale, the senior vice president now directly owns 15,972 shares of the company's stock, valued at approximately $2,076,360. This represents a 6.84% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director William G. Bock sold 1,000 shares of the company's stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $149.43, for a total transaction of $149,430.00. Following the sale, the director now directly owns 31,115 shares of the company's stock, valued at $4,649,514.45. This represents a 3.11% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 2,718 shares of company stock valued at $358,820. 1.60% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Raymond James Financial Inc. purchased a new stake in Silicon Laboratories in the 4th quarter worth approximately $14,252,000. Arizona State Retirement System increased its stake in shares of Silicon Laboratories by 1.8% in the fourth quarter. Arizona State Retirement System now owns 9,360 shares of the semiconductor company's stock worth $1,163,000 after acquiring an additional 167 shares during the last quarter. Barclays PLC boosted its position in Silicon Laboratories by 23.4% during the third quarter. Barclays PLC now owns 70,568 shares of the semiconductor company's stock valued at $8,157,000 after purchasing an additional 13,363 shares during the last quarter. Arkadios Wealth Advisors acquired a new stake in Silicon Laboratories during the fourth quarter valued at $237,000. Finally, Pacer Advisors Inc. grew its stake in Silicon Laboratories by 1.8% in the fourth quarter. Pacer Advisors Inc. now owns 4,839 shares of the semiconductor company's stock valued at $601,000 after purchasing an additional 87 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.