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

Silicon Laboratories (NASDAQ:SLAB - Get Free Report)'s stock had its "buy" rating reiterated by stock analysts at Benchmark in a research note issued to investors on Tuesday,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 29.26% from the company's previous close.

Several other equities analysts also recently commented on SLAB. Needham & Company LLC restated a "buy" rating and set a $150.00 target price on shares of Silicon Laboratories in a research report on Wednesday, May 14th. Stifel Nicolaus lowered their target price on Silicon Laboratories from $145.00 to $120.00 and set a "buy" rating for the company in a research note on Thursday, April 17th. Susquehanna lifted their price objective on Silicon Laboratories from $100.00 to $110.00 and gave the stock a "neutral" rating in a research note on Wednesday, May 14th. Barclays decreased their price objective on Silicon Laboratories from $120.00 to $80.00 and set an "equal weight" rating for the company in a research note on Tuesday, April 22nd. Finally, Wall Street Zen raised Silicon Laboratories from a "sell" rating to a "hold" rating in a research note on Wednesday, May 14th. Four analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $126.50.

Silicon Laboratories Trading Up 0.3%

SLAB traded up $0.37 during midday trading on Tuesday, reaching $123.78. The company's stock had a trading volume of 253,813 shares, compared to its average volume of 337,540. The stock has a market cap of $4.03 billion, a P/E ratio of -20.84 and a beta of 1.36. The company has a fifty day simple moving average of $108.78 and a 200 day simple moving average of $121.87. Silicon Laboratories has a twelve month low of $82.82 and a twelve month high of $160.00.

Silicon Laboratories (NASDAQ:SLAB - Get Free Report) last announced 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. Silicon Laboratories had a negative return on equity of 10.46% and a negative net margin of 32.69%. The company had revenue of $177.71 million for the quarter, compared to analyst estimates of $177.48 million. During the same quarter last year, the firm earned ($0.92) EPS. Silicon Laboratories's revenue for the quarter was up 67.0% compared to the same quarter last year. Sell-side analysts expect that Silicon Laboratories will post -0.97 earnings per share for the current year.

Insider Buying and Selling

In related news, Director Christy Wyatt sold 546 shares of the business's stock in a transaction dated Tuesday, May 6th. The stock was sold at an average price of $104.45, for a total value of $57,029.70. Following the completion of the transaction, the director now owns 8,492 shares of the company's stock, valued at $886,989.40. The trade was a 6.04% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Robert Matthew Johnson sold 5,879 shares of the business's stock in a transaction that occurred on Friday, May 16th. The shares were sold at an average price of $131.20, for a total transaction of $771,324.80. Following the completion of the transaction, the chief executive officer now owns 73,688 shares of the company's stock, valued at $9,667,865.60. The trade was a 7.39% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 11,626 shares of company stock worth $1,509,319. Corporate insiders own 1.60% of the company's stock.

Institutional Investors Weigh In On Silicon Laboratories

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Coldstream Capital Management Inc. lifted its stake in Silicon Laboratories by 2.8% during the fourth quarter. Coldstream Capital Management Inc. now owns 2,473 shares of the semiconductor company's stock worth $307,000 after purchasing an additional 68 shares during the last quarter. Jones Financial Companies Lllp raised its position in shares of Silicon Laboratories by 44.5% in the 4th quarter. Jones Financial Companies Lllp now owns 224 shares of the semiconductor company's stock worth $28,000 after acquiring an additional 69 shares in the last quarter. Pacer Advisors Inc. raised its position in shares of Silicon Laboratories by 1.8% in the 4th quarter. Pacer Advisors Inc. now owns 4,839 shares of the semiconductor company's stock worth $601,000 after acquiring an additional 87 shares in the last quarter. Cooper Financial Group grew its stake in shares of Silicon Laboratories by 1.9% in the 1st quarter. Cooper Financial Group now owns 5,354 shares of the semiconductor company's stock valued at $603,000 after buying an additional 98 shares during the period. Finally, Louisiana State Employees Retirement System grew its stake in shares of Silicon Laboratories by 1.1% in the 4th quarter. Louisiana State Employees Retirement System now owns 9,000 shares of the semiconductor company's stock valued at $1,118,000 after buying an additional 100 shares during the period.

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.