Silicon Laboratories, Inc. (NASDAQ:SLAB) Receives Average Rating of “Moderate Buy” from Brokerages

Silicon Laboratories, Inc. (NASDAQ:SLAB) has been assigned a consensus rating of “Moderate Buy” from the eight brokerages that are covering the stock, Marketbeat Ratings reports. Three analysts have rated the stock with a hold recommendation and five have given a buy recommendation to the company. The average twelve-month price objective among brokerages that have updated their coverage on the stock in the last year is $139.00.

A number of brokerages recently issued reports on SLAB. KeyCorp boosted their price objective on Silicon Laboratories from $160.00 to $180.00 and gave the company an “overweight” rating in a research note on Tuesday, July 8th. Stifel Nicolaus boosted their target price on shares of Silicon Laboratories from $144.00 to $160.00 and gave the stock a “buy” rating in a report on Friday, July 18th. Wall Street Zen upgraded Silicon Laboratories from a “sell” rating to a “hold” rating in a research report on Wednesday, May 14th. Susquehanna upped their target price on Silicon Laboratories from $110.00 to $150.00 and gave the company a “neutral” rating in a research note on Tuesday, July 22nd. Finally, Needham & Company LLC restated a “buy” rating and set a $150.00 price objective on shares of Silicon Laboratories in a report on Wednesday, May 14th.

Silicon Laboratories Price Performance

Shares of NASDAQ:SLAB opened at $128.77 on Monday. The company has a market capitalization of $4.19 billion, a PE ratio of -25.20 and a beta of 1.48. The business has a fifty day moving average price of $138.29 and a 200-day moving average price of $128.31. Silicon Laboratories has a 1-year low of $82.82 and a 1-year high of $160.00.

Silicon Laboratories (NASDAQ:SLAB) last posted its quarterly earnings results 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. The firm had revenue of $177.71 million during the quarter, compared to analysts’ expectations of $177.48 million. Silicon Laboratories had a negative return on equity of 8.80% and a negative net margin of 25.16%. The company’s revenue was up 67.0% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.92) earnings per share. On average, sell-side analysts anticipate that Silicon Laboratories will post -0.97 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Silicon Laboratories news, SVP Robert J. Conrad sold 4,029 shares of the company’s stock in a transaction dated Friday, May 16th. The stock was sold at an average price of $131.20, for a total transaction of $528,604.80. Following the sale, the senior vice president owned 25,380 shares in the company, valued at $3,329,856. This represents a 13.70% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Christy Wyatt sold 546 shares of the stock in a transaction 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 completion of the transaction, the director directly owned 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 disclosure for this sale can be found here. Insiders have sold 11,626 shares of company stock worth $1,509,319 over the last ninety days. Corporate insiders own 1.60% of the company’s stock.

Hedge Funds Weigh In On Silicon Laboratories

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Teacher Retirement System of Texas lifted its position in shares of Silicon Laboratories by 47.3% in the second quarter. Teacher Retirement System of Texas now owns 7,426 shares of the semiconductor company’s stock valued at $1,094,000 after acquiring an additional 2,384 shares in the last quarter. Leeward Investments LLC MA boosted its holdings in shares of Silicon Laboratories by 21.3% during the second quarter. Leeward Investments LLC MA now owns 117,834 shares of the semiconductor company’s stock worth $17,364,000 after purchasing an additional 20,658 shares during the last quarter. State of New Jersey Common Pension Fund D increased its position in Silicon Laboratories by 20.1% during the second quarter. State of New Jersey Common Pension Fund D now owns 15,344 shares of the semiconductor company’s stock worth $2,261,000 after purchasing an additional 2,569 shares during the last quarter. Ethic Inc. acquired a new stake in Silicon Laboratories during the 2nd quarter worth approximately $217,000. Finally, Stephens Investment Management Group LLC boosted its position in shares of Silicon Laboratories by 9.4% in the second quarter. Stephens Investment Management Group LLC now owns 312,640 shares of the semiconductor company’s stock worth $46,071,000 after buying an additional 26,979 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.