Silicon Laboratories Inc. (NASDAQ:SLAB) Given Average Recommendation of “Moderate Buy” by Brokerages

Shares of Silicon Laboratories Inc. (NASDAQ:SLAB) have earned an average recommendation of “Moderate Buy” from the eight brokerages that are covering the stock, Marketbeat Ratings reports. Three analysts have rated the stock with a hold rating and five have issued a buy rating on the company. The average 1 year price objective among brokerages that have issued a report on the stock in the last year is $126.50.

Several research firms have recently weighed in on SLAB. Benchmark reissued a “buy” rating and issued a $160.00 price target on shares of Silicon Laboratories in a research note on Wednesday, May 14th. Susquehanna increased their price objective on Silicon Laboratories from $100.00 to $110.00 and gave the company a “neutral” rating in a report 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 report on Tuesday, April 22nd. Needham & Company LLC reiterated a “buy” rating and issued a $150.00 price objective on shares of Silicon Laboratories in a research report on Wednesday, May 14th. Finally, StockNews.com upgraded shares of Silicon Laboratories from a “sell” rating to a “hold” rating in a report on Wednesday, May 14th.

Insiders Place Their Bets

In other news, Director Christy Wyatt sold 546 shares of Silicon Laboratories stock in a transaction that occurred on Tuesday, May 6th. The shares were sold at an average price of $104.45, for a total transaction of $57,029.70. Following the sale, the director now owns 8,492 shares in the company, valued at $886,989.40. This trade represents a 6.04% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP Robert J. Conrad sold 4,029 shares of Silicon Laboratories stock in a transaction that occurred on Friday, May 16th. The stock was sold at an average price of $131.20, for a total value of $528,604.80. Following the completion of the transaction, the senior vice president now owns 25,380 shares of the company’s stock, valued at approximately $3,329,856. The trade was a 13.70% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 11,626 shares of company stock valued at $1,509,319. Insiders own 1.60% of the company’s stock.

Institutional Investors Weigh In On Silicon Laboratories

Hedge funds and other institutional investors have recently modified their holdings of the stock. Barclays PLC grew its holdings in Silicon Laboratories by 23.4% during the third quarter. Barclays PLC now owns 70,568 shares of the semiconductor company’s stock worth $8,157,000 after acquiring an additional 13,363 shares during the period. Park Avenue Securities LLC bought a new position in Silicon Laboratories during the fourth quarter valued at about $268,000. Arkadios Wealth Advisors acquired a new stake in shares of Silicon Laboratories in the fourth quarter worth $237,000. Nisa Investment Advisors LLC lifted its position in shares of Silicon Laboratories by 6.2% during the 4th quarter. Nisa Investment Advisors LLC now owns 4,134 shares of the semiconductor company’s stock worth $514,000 after purchasing an additional 240 shares during the last quarter. Finally, SG Americas Securities LLC boosted its holdings in Silicon Laboratories by 1,106.4% in the 4th quarter. SG Americas Securities LLC now owns 23,791 shares of the semiconductor company’s stock valued at $2,955,000 after purchasing an additional 21,819 shares during the period.

Silicon Laboratories Price Performance

Shares of SLAB stock opened at $128.50 on Wednesday. The business has a fifty day moving average of $109.00 and a 200 day moving average of $121.41. The firm has a market capitalization of $4.19 billion, a price-to-earnings ratio of -21.63 and a beta of 1.36. Silicon Laboratories has a 1 year low of $82.82 and a 1 year high of $160.00.

Silicon Laboratories (NASDAQ:SLAB) last announced its quarterly earnings results on Tuesday, May 13th. The semiconductor company reported ($0.08) earnings per share for the quarter, beating the consensus estimate of ($0.09) by $0.01. The firm had revenue of $177.71 million during the quarter, compared to analyst estimates of $177.48 million. Silicon Laboratories had a negative return on equity of 10.46% and a negative net margin of 32.69%. Silicon Laboratories’s revenue for the quarter was up 67.0% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($0.92) EPS. As a group, equities research analysts expect that Silicon Laboratories will post -0.97 earnings per share for the current year.

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.