Silicon Laboratories (NASDAQ:SLAB) Upgraded by Benchmark to Buy Rating

Silicon Laboratories (NASDAQ:SLAB) was upgraded by equities researchers at Benchmark from a “hold” rating to a “buy” rating in a research note issued to investors on Wednesday, Marketbeat.com reports. The firm presently has a $160.00 price target on the semiconductor company’s stock. Benchmark’s target price would suggest a potential upside of 17.13% from the stock’s current price.

Several other analysts have also commented on the company. JPMorgan Chase & Co. decreased their price objective on Silicon Laboratories from $150.00 to $135.00 and set an “overweight” rating for the company in a report on Tuesday, November 5th. StockNews.com raised Silicon Laboratories to a “sell” rating in a report on Friday, November 8th. Barclays upped their price objective on shares of Silicon Laboratories from $75.00 to $120.00 and gave the company an “equal weight” rating in a report on Friday, January 17th. Stifel Nicolaus lifted their target price on shares of Silicon Laboratories from $135.00 to $145.00 and gave the stock a “buy” rating in a research note on Monday, January 6th. Finally, Morgan Stanley dropped their target price on shares of Silicon Laboratories from $123.00 to $97.00 and set an “equal weight” rating on the stock in a research report on Tuesday, November 5th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $136.20.

Silicon Laboratories Price Performance

Shares of NASDAQ SLAB opened at $136.60 on Wednesday. The business has a fifty day moving average price of $127.54 and a 200 day moving average price of $116.52. Silicon Laboratories has a 1-year low of $94.00 and a 1-year high of $154.91. The stock has a market capitalization of $4.43 billion, a P/E ratio of -18.46 and a beta of 1.16.

Silicon Laboratories (NASDAQ:SLAB) last released its quarterly earnings results on Tuesday, February 4th. The semiconductor company reported ($0.11) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.11). The business had revenue of $166.25 million for the quarter, compared to analysts’ expectations of $166.09 million. Silicon Laboratories had a negative net margin of 46.93% and a negative return on equity of 12.60%. The company’s revenue was up 91.4% compared to the same quarter last year. During the same period last year, the business earned ($1.19) EPS. As a group, equities research analysts anticipate that Silicon Laboratories will post -3.56 earnings per share for the current fiscal year.

Insider Activity at Silicon Laboratories

In related news, Director William G. Bock sold 2,000 shares of Silicon Laboratories stock in a transaction that occurred on Wednesday, January 22nd. The stock was sold at an average price of $140.77, for a total transaction of $281,540.00. Following the completion of the transaction, the director now directly owns 32,115 shares in the company, valued at approximately $4,520,828.55. This trade represents a 5.86 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.72% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Silicon Laboratories

Hedge funds and other institutional investors have recently made changes to their positions in the company. Advisors Asset Management Inc. grew its holdings in Silicon Laboratories by 159.4% in the third quarter. Advisors Asset Management Inc. now owns 275 shares of the semiconductor company’s stock valued at $32,000 after purchasing an additional 169 shares during the period. GAMMA Investing LLC increased its holdings in Silicon Laboratories by 84.1% in the 3rd quarter. GAMMA Investing LLC now owns 497 shares of the semiconductor company’s stock worth $57,000 after acquiring an additional 227 shares in the last quarter. Venturi Wealth Management LLC raised its position in Silicon Laboratories by 207.0% during the fourth quarter. Venturi Wealth Management LLC now owns 786 shares of the semiconductor company’s stock worth $98,000 after acquiring an additional 530 shares during the period. International Assets Investment Management LLC lifted its holdings in Silicon Laboratories by 11,457.1% during the third quarter. International Assets Investment Management LLC now owns 809 shares of the semiconductor company’s stock valued at $93,000 after purchasing an additional 802 shares in the last quarter. Finally, Asset Management One Co. Ltd. acquired a new stake in shares of Silicon Laboratories in the fourth quarter valued at about $117,000.

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.