Needham & Company LLC Increases Silicon Laboratories (NASDAQ:SLAB) Price Target to $150.00

Silicon Laboratories (NASDAQ:SLAB - Get Free Report) had its price objective hoisted by analysts at Needham & Company LLC from $140.00 to $150.00 in a research report issued on Wednesday,Benzinga reports. The brokerage currently has a "buy" rating on the semiconductor company's stock. Needham & Company LLC's price objective would indicate a potential upside of 5.15% from the company's previous close.

Other analysts have also issued research reports about the company. KeyCorp increased their price target on Silicon Laboratories from $115.00 to $160.00 and gave the company an "overweight" rating in a report on Wednesday, January 22nd. Barclays raised their target price on shares of Silicon Laboratories from $75.00 to $120.00 and gave the stock an "equal weight" rating in a report on Friday, January 17th. JPMorgan Chase & Co. cut their price target on shares of Silicon Laboratories from $150.00 to $135.00 and set an "overweight" rating on the stock in a report on Tuesday, November 5th. Benchmark upgraded Silicon Laboratories from a "hold" rating to a "buy" rating and set a $160.00 target price for the company in a research report on Wednesday. Finally, Morgan Stanley reduced their price target on Silicon Laboratories from $123.00 to $97.00 and set an "equal weight" rating on the stock in a report on Tuesday, November 5th. Six research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, Silicon Laboratories currently has a consensus rating of "Moderate Buy" and an average target price of $136.20.

Silicon Laboratories Stock Down 3.2 %

SLAB traded down $4.74 during trading on Wednesday, hitting $142.66. The company's stock had a trading volume of 418,568 shares, compared to its average volume of 374,538. The business's 50 day simple moving average is $129.76 and its 200-day simple moving average is $117.13. The firm has a market cap of $4.63 billion, a PE ratio of -24.02 and a beta of 1.16. Silicon Laboratories has a one year low of $94.00 and a one year high of $154.91.

Silicon Laboratories (NASDAQ:SLAB - Get Free Report) last released its quarterly earnings data on Tuesday, February 4th. The semiconductor company reported ($0.11) earnings per share for the quarter, hitting analysts' consensus estimates of ($0.11). Silicon Laboratories had a negative return on equity of 10.46% and a negative net margin of 32.69%. The firm had revenue of $166.25 million during the quarter, compared to analyst estimates of $166.09 million. During the same quarter in the prior year, the company posted ($1.19) earnings per share. The business's quarterly revenue was up 91.4% compared to the same quarter last year. Equities research analysts expect that Silicon Laboratories will post -0.47 EPS for the current fiscal year.

Insider Buying and Selling at Silicon Laboratories

In other news, Director Navdeep S. Sooch sold 2,360 shares of the business's stock in a transaction that occurred on Wednesday, February 5th. The stock was sold at an average price of $149.00, for a total transaction of $351,640.00. Following the transaction, the director now directly owns 400,567 shares in the company, valued at $59,684,483. The trade was a 0.59 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director William G. Bock sold 2,000 shares of the business's stock in a transaction on Wednesday, January 22nd. The stock was sold at an average price of $140.77, for a total value of $281,540.00. Following the transaction, the director now directly owns 32,115 shares in the company, valued at $4,520,828.55. This trade represents a 5.86 % decrease in their position. The disclosure for this sale can be found here. Insiders own 1.72% of the company's stock.

Institutional Trading of Silicon Laboratories

Institutional investors have recently made changes to their positions in the company. Sanctuary Advisors LLC purchased a new position in shares of Silicon Laboratories during the 2nd quarter worth $229,000. Handelsbanken Fonder AB increased its position in shares of Silicon Laboratories by 41.0% during the third quarter. Handelsbanken Fonder AB now owns 9,637 shares of the semiconductor company's stock valued at $1,114,000 after acquiring an additional 2,800 shares during the last quarter. GAMMA Investing LLC lifted its holdings in shares of 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 during the last quarter. CWM LLC increased its holdings in Silicon Laboratories by 21.8% in the 3rd quarter. CWM LLC now owns 10,270 shares of the semiconductor company's stock valued at $1,187,000 after purchasing an additional 1,835 shares during the last quarter. Finally, Inspire Investing LLC raised its position in Silicon Laboratories by 12.8% in the third quarter. Inspire Investing LLC now owns 3,580 shares of the semiconductor company's stock valued at $414,000 after purchasing an additional 405 shares during the period.

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.