Silicon Laboratories (NASDAQ:SLAB - Get Free Report) had its target price boosted by Susquehanna from $110.00 to $150.00 in a report issued on Tuesday,Benzinga reports. The firm presently has a "neutral" rating on the semiconductor company's stock. Susquehanna's price objective suggests a potential upside of 5.72% from the company's current price.
SLAB has been the topic of a number of other reports. Benchmark reissued a "buy" rating and issued a $160.00 target price on shares of Silicon Laboratories in a research note on Tuesday, May 27th. Barclays dropped their price target on Silicon Laboratories from $120.00 to $80.00 and set an "equal weight" rating on the stock in a research report on Tuesday, April 22nd. Stifel Nicolaus increased their target price on Silicon Laboratories from $144.00 to $160.00 and gave the stock a "buy" rating in a research report on Friday. Wall Street Zen raised Silicon Laboratories from a "sell" rating to a "hold" rating in a report on Wednesday, May 14th. Finally, Needham & Company LLC reiterated a "buy" rating and issued a $150.00 price objective on shares of Silicon Laboratories in a research note on Wednesday, May 14th. Four research analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $139.00.
Get Our Latest Stock Analysis on SLAB
Silicon Laboratories Price Performance
Shares of NASDAQ:SLAB traded down $4.52 during trading on Tuesday, hitting $141.88. The company's stock had a trading volume of 191,678 shares, compared to its average volume of 353,665. Silicon Laboratories has a 12 month low of $82.82 and a 12 month high of $160.00. The company has a 50-day moving average of $136.58 and a 200-day moving average of $127.93. The firm has a market cap of $4.62 billion, a price-to-earnings ratio of -27.74 and a beta of 1.47.
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, beating analysts' consensus estimates of ($0.09) by $0.01. Silicon Laboratories had a negative return on equity of 8.80% and a negative net margin of 25.16%. The company had revenue of $177.71 million for the quarter, compared to analyst estimates of $177.48 million. During the same quarter in the previous year, the company earned ($0.92) EPS. The firm's revenue for the quarter was up 67.0% compared to the same quarter last year. As a group, research analysts anticipate that Silicon Laboratories will post -0.97 earnings per share for the current year.
Insider Buying and Selling
In other news, SVP Robert J. Conrad sold 4,029 shares of Silicon Laboratories stock in a transaction that occurred on Friday, May 16th. The shares were sold at an average price of $131.20, for a total value of $528,604.80. Following the transaction, the senior vice president owned 25,380 shares of the company's stock, valued at $3,329,856. This trade represents a 13.70% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Robert Matthew Johnson sold 5,879 shares of the firm's stock in a transaction that occurred on Friday, May 16th. The stock was sold at an average price of $131.20, for a total transaction of $771,324.80. Following the transaction, the chief executive officer directly owned 73,688 shares of the company's stock, valued at $9,667,865.60. This represents a 7.39% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 11,626 shares of company stock worth $1,509,319. Company insiders own 1.60% of the company's stock.
Hedge Funds Weigh In On Silicon Laboratories
A number of hedge funds and other institutional investors have recently made changes to their positions in the business. FMR LLC lifted its stake in shares of Silicon Laboratories by 0.5% in the fourth quarter. FMR LLC now owns 4,867,203 shares of the semiconductor company's stock worth $604,604,000 after buying an additional 23,833 shares in the last quarter. Vanguard Group Inc. raised its position in shares of Silicon Laboratories by 1.9% during the 4th quarter. Vanguard Group Inc. now owns 3,959,580 shares of the semiconductor company's stock worth $491,859,000 after purchasing an additional 71,942 shares during the last quarter. Capital Research Global Investors raised its holdings in Silicon Laboratories by 23.3% in the fourth quarter. Capital Research Global Investors now owns 2,131,920 shares of the semiconductor company's stock valued at $264,827,000 after buying an additional 403,010 shares during the period. Invesco Ltd. grew its position in shares of Silicon Laboratories by 42.7% during the first quarter. Invesco Ltd. now owns 849,730 shares of the semiconductor company's stock worth $95,654,000 after buying an additional 254,348 shares in the last quarter. Finally, Federated Hermes Inc. boosted its holdings in Silicon Laboratories by 4.1% in the fourth quarter. Federated Hermes Inc. now owns 638,464 shares of the semiconductor company's stock worth $79,310,000 after purchasing an additional 25,178 shares during the period.
Silicon Laboratories Company Profile
(
Get Free Report)
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.
Further Reading
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.
Before you consider Silicon Laboratories, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Silicon Laboratories wasn't on the list.
While Silicon Laboratories currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Wondering where to start (or end) with AI stocks? These 10 simple stocks can help investors build long-term wealth as artificial intelligence continues to grow into the future.
Get This Free Report
