Needham & Company LLC Upgrades Silicon Laboratories (NASDAQ:SLAB) to Buy

Silicon Laboratories (NASDAQ:SLAB) was upgraded by equities research analysts at Needham & Company LLC from a “hold” rating to a “buy” rating in a research note issued to investors on Thursday, Marketbeat reports. The brokerage presently has a $150.00 price objective on the semiconductor company’s stock. Needham & Company LLC’s price target would indicate a potential upside of 22.82% from the company’s current price.

Other research analysts have also recently issued research reports about the stock. Stifel Nicolaus increased their target price on shares of Silicon Laboratories from $136.00 to $155.00 and gave the stock a “buy” rating in a report on Tuesday, January 2nd. StockNews.com lowered shares of Silicon Laboratories from a “hold” rating to a “sell” rating in a research report on Friday, December 29th. JPMorgan Chase & Co. increased their price target on Silicon Laboratories from $145.00 to $165.00 and gave the company an “overweight” rating in a research note on Thursday, February 8th. Summit Insights cut Silicon Laboratories from a “buy” rating to a “hold” rating in a report on Wednesday. Finally, Barclays increased their target price on Silicon Laboratories from $120.00 to $140.00 and gave the company an “equal weight” rating in a research report on Thursday, February 8th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, Silicon Laboratories has a consensus rating of “Hold” and a consensus target price of $135.00.

Silicon Laboratories Price Performance

NASDAQ SLAB opened at $122.13 on Thursday. The business has a fifty day moving average price of $133.57 and a two-hundred day moving average price of $122.15. The stock has a market capitalization of $3.90 billion, a PE ratio of -36.90 and a beta of 1.27. Silicon Laboratories has a fifty-two week low of $74.56 and a fifty-two week high of $166.94.

Silicon Laboratories (NASDAQ:SLAB) last posted its quarterly earnings results on Wednesday, April 24th. The semiconductor company reported ($1.34) EPS for the quarter, missing analysts’ consensus estimates of ($1.29) by ($0.05). Silicon Laboratories had a negative return on equity of 4.45% and a negative net margin of 16.36%. The business had revenue of $106.38 million for the quarter, compared to analyst estimates of $104.45 million. As a group, sell-side analysts expect that Silicon Laboratories will post -1.66 earnings per share for the current year.

Institutional Investors Weigh In On Silicon Laboratories

Several institutional investors and hedge funds have recently made changes to their positions in SLAB. Venturi Wealth Management LLC bought a new stake in shares of Silicon Laboratories in the 3rd quarter valued at $30,000. GAMMA Investing LLC bought a new stake in Silicon Laboratories during the fourth quarter valued at $36,000. Gladius Capital Management LP boosted its position in Silicon Laboratories by 328.7% during the fourth quarter. Gladius Capital Management LP now owns 373 shares of the semiconductor company’s stock valued at $49,000 after acquiring an additional 286 shares during the last quarter. CWM LLC grew its holdings in Silicon Laboratories by 78.1% during the 4th quarter. CWM LLC now owns 374 shares of the semiconductor company’s stock worth $49,000 after acquiring an additional 164 shares during the period. Finally, Global Retirement Partners LLC raised its position in shares of Silicon Laboratories by 31.7% in the 3rd quarter. Global Retirement Partners LLC now owns 507 shares of the semiconductor company’s stock worth $58,000 after acquiring an additional 122 shares in the last quarter.

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.