Silicon Laboratories' (SLAB) Buy Rating Reiterated at Benchmark

Silicon Laboratories (NASDAQ:SLAB - Get Free Report)'s stock had its "buy" rating reiterated by stock analysts at Benchmark in a research report issued on Tuesday,Benzinga reports. They presently have a $160.00 price objective on the semiconductor company's stock. Benchmark's price target would indicate a potential upside of 33.30% from the company's current price.

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

Silicon Laboratories Trading Down 3.0%

Silicon Laboratories stock traded down $3.75 during midday trading on Tuesday, reaching $120.03. The stock had a trading volume of 298,144 shares, compared to its average volume of 337,954. The company has a fifty day moving average price of $108.69 and a two-hundred day moving average price of $122.08. Silicon Laboratories has a 12 month low of $82.82 and a 12 month high of $160.00. The company has a market capitalization of $3.91 billion, a P/E ratio of -20.21 and a beta of 1.36.

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

Insider Buying and Selling

In other Silicon Laboratories news, Director Christy Wyatt sold 546 shares of the business's stock in a transaction dated Tuesday, May 6th. The shares were sold at an average price of $104.45, for a total value of $57,029.70. Following the transaction, the director now owns 8,492 shares in the company, valued at approximately $886,989.40. The trade was a 6.04% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Robert J. Conrad sold 1,172 shares of the firm's stock in a transaction dated Tuesday, May 13th. The stock was sold at an average price of $130.00, for a total value of $152,360.00. Following the completion of the sale, the senior vice president now directly owns 15,972 shares in the company, valued at $2,076,360. The trade was a 6.84% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 11,626 shares of company stock valued at $1,509,319 over the last three months. 1.60% of the stock is owned by company insiders.

Institutional Trading of Silicon Laboratories

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Capital Research Global Investors raised its holdings in Silicon Laboratories by 23.3% in the 4th quarter. Capital Research Global Investors now owns 2,131,920 shares of the semiconductor company's stock worth $264,827,000 after purchasing an additional 403,010 shares in the last quarter. Westfield Capital Management Co. LP bought a new position in Silicon Laboratories in the first quarter worth about $37,249,000. Nuveen LLC bought a new position in Silicon Laboratories in the first quarter worth about $32,338,000. Adage Capital Partners GP L.L.C. raised its stake in Silicon Laboratories by 116.7% in the first quarter. Adage Capital Partners GP L.L.C. now owns 525,022 shares of the semiconductor company's stock worth $59,102,000 after buying an additional 282,785 shares in the last quarter. Finally, Norges Bank purchased a new stake in Silicon Laboratories in the fourth quarter worth about $34,622,000.

Silicon Laboratories Company Profile

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.