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

Silicon Laboratories (NASDAQ:SLAB) was upgraded by investment analysts at Needham & Company LLC from a “hold” rating to a “buy” rating in a report released on Thursday, Briefing.com reports. The brokerage presently has a $150.00 price target on the semiconductor company’s stock. Needham & Company LLC’s price target suggests a potential upside of 31.28% from the stock’s current price.

A number of other research analysts also recently issued reports on SLAB. Stifel Nicolaus raised their price target on Silicon Laboratories from $136.00 to $155.00 and gave the stock a “buy” rating in a research note on Tuesday, January 2nd. JPMorgan Chase & Co. lifted their target price on Silicon Laboratories from $145.00 to $165.00 and gave the company an “overweight” rating in a research note on Thursday, February 8th. StockNews.com downgraded Silicon Laboratories from a “hold” rating to a “sell” rating in a research note on Friday, December 29th. TD Cowen lifted their target price on Silicon Laboratories from $140.00 to $155.00 and gave the company an “outperform” rating in a research note on Thursday, February 8th. Finally, Barclays lifted their target price on Silicon Laboratories from $120.00 to $140.00 and gave the company an “equal weight” rating in a research note on Thursday, February 8th. One analyst has rated the stock with a sell rating, five have issued a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $142.88.

Silicon Laboratories Stock Performance

Shares of NASDAQ SLAB opened at $114.26 on Thursday. Silicon Laboratories has a fifty-two week low of $74.56 and a fifty-two week high of $166.94. The firm has a market capitalization of $3.65 billion, a PE ratio of -101.11 and a beta of 1.27. The stock’s 50-day simple moving average is $134.92 and its 200-day simple moving average is $122.17.

Silicon Laboratories (NASDAQ:SLAB) last released its quarterly earnings results on Wednesday, February 7th. The semiconductor company reported ($1.46) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($1.91) by $0.45. The firm had revenue of $86.85 million for the quarter, compared to the consensus estimate of $85.32 million. Silicon Laboratories had a positive return on equity of 0.97% and a negative net margin of 4.41%. On average, sell-side analysts forecast that Silicon Laboratories will post -1.66 earnings per share for the current fiscal year.

Institutional Trading of Silicon Laboratories

A number of institutional investors have recently modified their holdings of SLAB. Pathstone Holdings LLC purchased a new stake in shares of Silicon Laboratories in the fourth quarter valued at approximately $58,205,000. Capital Research Global Investors raised its holdings in Silicon Laboratories by 73.9% during the fourth quarter. Capital Research Global Investors now owns 937,939 shares of the semiconductor company’s stock worth $124,061,000 after purchasing an additional 398,489 shares during the last quarter. Norges Bank acquired a new position in Silicon Laboratories during the fourth quarter worth $28,907,000. Adage Capital Partners GP L.L.C. acquired a new position in Silicon Laboratories during the third quarter worth $24,453,000. Finally, Vanguard Group Inc. raised its holdings in Silicon Laboratories by 5.5% during the fourth quarter. Vanguard Group Inc. now owns 3,464,163 shares of the semiconductor company’s stock worth $458,205,000 after purchasing an additional 179,131 shares during 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.