Silicon Laboratories (NASDAQ:SLAB) Earns “Buy” Rating from Benchmark

Silicon Laboratories (NASDAQ:SLAB)‘s stock had its “buy” rating restated by Benchmark in a research note issued on Wednesday,Benzinga reports. They presently have a $160.00 price objective on the semiconductor company’s stock. Benchmark’s price target would suggest a potential upside of 29.24% from the company’s previous close.

Several other research firms have also recently commented on SLAB. Susquehanna initiated coverage on shares of Silicon Laboratories in a report on Tuesday, December 17th. They set a “neutral” rating and a $130.00 price target for the company. Needham & Company LLC restated a “buy” rating and issued a $150.00 target price on shares of Silicon Laboratories in a report on Wednesday. StockNews.com cut shares of Silicon Laboratories from a “hold” rating to a “sell” rating in a report on Friday, February 28th. KeyCorp upped their target price on shares of Silicon Laboratories from $115.00 to $160.00 and gave the company an “overweight” rating in a report on Wednesday, January 22nd. Finally, Barclays upped their target price 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. One investment analyst has rated the stock with a sell rating, five have given a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Silicon Laboratories presently has an average rating of “Hold” and a consensus target price of $136.20.

Silicon Laboratories Stock Performance

Silicon Laboratories stock opened at $123.80 on Wednesday. The company’s 50 day simple moving average is $138.71 and its 200-day simple moving average is $122.77. The company has a market capitalization of $4.02 billion, a price-to-earnings ratio of -20.84 and a beta of 1.15. Silicon Laboratories has a 1 year low of $94.00 and a 1 year high of $160.00.

Silicon Laboratories (NASDAQ:SLAB) last announced its quarterly earnings data on Tuesday, February 4th. The semiconductor company reported ($0.11) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.11). The firm had revenue of $166.25 million during the quarter, compared to analysts’ expectations of $166.09 million. Silicon Laboratories had a negative net margin of 32.69% and a negative return on equity of 10.46%. The business’s quarterly revenue was up 91.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($1.19) earnings per share. Equities analysts expect that Silicon Laboratories will post -0.97 earnings per share for the current year.

Insider Activity at Silicon Laboratories

In related news, Director William G. Bock sold 1,000 shares of the firm’s stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $149.43, for a total value of $149,430.00. Following the transaction, the director now owns 31,115 shares in the company, valued at approximately $4,649,514.45. This trade represents a 3.11 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Navdeep S. Sooch sold 2,360 shares of the firm’s stock in a transaction that occurred on Wednesday, February 5th. The shares were sold at an average price of $149.00, for a total transaction of $351,640.00. Following the completion of the transaction, the director now owns 400,567 shares in the company, valued at $59,684,483. The trade was a 0.59 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 5,360 shares of company stock worth $782,610. Company insiders own 1.72% of the company’s stock.

Institutional Trading of Silicon Laboratories

Hedge funds have recently made changes to their positions in the company. Jones Financial Companies Lllp raised its stake in shares of Silicon Laboratories by 44.5% during the fourth quarter. Jones Financial Companies Lllp now owns 224 shares of the semiconductor company’s stock valued at $28,000 after purchasing an additional 69 shares during the period. Advisors Asset Management Inc. boosted 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 worth $32,000 after purchasing an additional 169 shares during the period. Headlands Technologies LLC bought a new stake in Silicon Laboratories in the fourth quarter valued at $70,000. Venturi Wealth Management LLC lifted its stake in Silicon Laboratories by 207.0% in the fourth quarter. Venturi Wealth Management LLC now owns 786 shares of the semiconductor company’s stock valued at $98,000 after buying an additional 530 shares during the last quarter. Finally, Asset Management One Co. Ltd. bought a new stake in Silicon Laboratories in the fourth quarter valued at $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.