Silicon Laboratories (NASDAQ:SLAB) Given New $130.00 Price Target at Barclays

Silicon Laboratories (NASDAQ:SLAB) had its target price raised by Barclays from $100.00 to $130.00 in a report released on Tuesday morning,Benzinga reports. They currently have an equal weight rating on the semiconductor company’s stock.

A number of other brokerages have also recently commented on SLAB. Wall Street Zen raised Silicon Laboratories from a “sell” rating to a “hold” rating in a research note on Wednesday, May 14th. Benchmark reaffirmed a “buy” rating and issued a $160.00 target price on shares of Silicon Laboratories in a research note on Tuesday, May 27th. KeyCorp increased their price target on shares of Silicon Laboratories from $160.00 to $180.00 and gave the company an “overweight” rating in a research report on Tuesday, July 8th. Susquehanna raised their price target on shares of Silicon Laboratories from $110.00 to $150.00 and gave the stock a “neutral” rating in a report on Tuesday, July 22nd. Finally, Needham & Company LLC reaffirmed a “buy” rating and set 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 issued a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $145.25.

Silicon Laboratories Stock Down 5.1%

Shares of NASDAQ:SLAB opened at $126.76 on Tuesday. The stock has a market cap of $4.13 billion, a PE ratio of -24.81 and a beta of 1.48. The company’s fifty day moving average is $138.56 and its 200 day moving average is $128.29. Silicon Laboratories has a 52 week low of $82.82 and a 52 week high of $160.00.

Silicon Laboratories (NASDAQ:SLAB) last announced its quarterly earnings data on Tuesday, August 5th. The semiconductor company reported $0.11 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.09 by $0.02. Silicon Laboratories had a negative return on equity of 8.80% and a negative net margin of 25.16%. The firm had revenue of $192.85 million for the quarter, compared to analysts’ expectations of $192.57 million. During the same period last year, the firm earned ($0.56) earnings per share. The company’s revenue for the quarter was up 32.6% compared to the same quarter last year. Sell-side analysts anticipate that Silicon Laboratories will post -0.97 EPS for the current year.

Insider Activity

In other news, SVP Robert J. Conrad sold 4,029 shares of the 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 owned 25,380 shares of the company’s stock, valued at approximately $3,329,856. This represents a 13.70% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Robert Matthew Johnson sold 5,879 shares of the firm’s 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 $771,324.80. Following the completion of the transaction, the chief executive officer owned 73,688 shares of the company’s stock, valued at approximately $9,667,865.60. The trade was a 7.39% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 11,080 shares of company stock worth $1,452,290 in the last quarter. 1.60% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Silicon Laboratories

A number of institutional investors have recently added to or reduced their stakes in the company. Bank of New York Mellon Corp boosted its holdings in shares of Silicon Laboratories by 10.1% during the 2nd quarter. Bank of New York Mellon Corp now owns 303,915 shares of the semiconductor company’s stock valued at $44,785,000 after buying an additional 27,842 shares in the last quarter. Corton Capital Inc. purchased a new position in Silicon Laboratories during the 2nd quarter valued at about $221,000. Bank of Montreal Can boosted its stake in Silicon Laboratories by 260.7% during the second quarter. Bank of Montreal Can now owns 15,668 shares of the semiconductor company’s stock worth $2,309,000 after acquiring an additional 11,324 shares in the last quarter. Moody Aldrich Partners LLC purchased a new stake in Silicon Laboratories in the second quarter worth about $2,545,000. Finally, Strs Ohio increased its stake in shares of Silicon Laboratories by 42.2% during the second quarter. Strs Ohio now owns 9,100 shares of the semiconductor company’s stock valued at $1,341,000 after purchasing an additional 2,700 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.