Silicon Laboratories Inc. (NASDAQ:SLAB) Receives $121.50 Average Target Price from Brokerages

Silicon Laboratories Inc. (NASDAQ:SLAB - Get Free Report) has been given an average rating of "Moderate Buy" by the ten research firms that are presently covering the stock, MarketBeat.com reports. Five investment analysts have rated the stock with a hold rating and five have issued a buy rating on the company. The average 12 month price objective among brokerages that have covered the stock in the last year is $121.50.

Several analysts recently issued reports on SLAB shares. Barclays decreased their target price on Silicon Laboratories from $120.00 to $75.00 and set an "equal weight" rating on the stock in a research note on Tuesday, November 5th. Stifel Nicolaus lowered their target price on shares of Silicon Laboratories from $160.00 to $135.00 and set a "buy" rating on the stock in a report on Tuesday, November 5th. StockNews.com upgraded Silicon Laboratories to a "sell" rating in a research report on Friday, November 8th. Benchmark reiterated a "hold" rating on shares of Silicon Laboratories in a research report on Tuesday, November 5th. Finally, KeyCorp cut their price target on Silicon Laboratories from $150.00 to $115.00 and set an "overweight" rating for the company in a report on Tuesday, November 5th.

Insiders Place Their Bets

In other Silicon Laboratories news, SVP Brandon Tolany sold 845 shares of the firm's stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $115.00, for a total value of $97,175.00. Following the completion of the sale, the senior vice president now owns 43,615 shares of the company's stock, valued at $5,015,725. This trade represents a 1.90 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 1.72% of the stock is owned by insiders.

Institutional Investors Weigh In On Silicon Laboratories

Institutional investors and hedge funds have recently modified their holdings of the business. Wellington Management Group LLP boosted its stake in shares of Silicon Laboratories by 28.3% during the third quarter. Wellington Management Group LLP now owns 888,382 shares of the semiconductor company's stock valued at $102,670,000 after purchasing an additional 195,997 shares during the period. Clearbridge Investments LLC lifted its holdings in Silicon Laboratories by 84.0% during the 2nd quarter. Clearbridge Investments LLC now owns 273,776 shares of the semiconductor company's stock valued at $30,288,000 after buying an additional 125,022 shares in the last quarter. American Century Companies Inc. boosted its position in Silicon Laboratories by 29.5% in the 2nd quarter. American Century Companies Inc. now owns 316,407 shares of the semiconductor company's stock valued at $35,004,000 after buying an additional 72,138 shares during the period. Point72 Asset Management L.P. bought a new position in Silicon Laboratories in the 3rd quarter worth about $7,408,000. Finally, FMR LLC grew its stake in Silicon Laboratories by 1.1% in the 3rd quarter. FMR LLC now owns 4,843,370 shares of the semiconductor company's stock worth $559,748,000 after acquiring an additional 54,708 shares in the last quarter.

Silicon Laboratories Stock Performance

Shares of SLAB traded up $1.15 during mid-day trading on Wednesday, reaching $108.78. The stock had a trading volume of 304,422 shares, compared to its average volume of 298,871. The business has a fifty day moving average of $111.09 and a 200 day moving average of $113.78. The firm has a market cap of $3.53 billion, a price-to-earnings ratio of -14.42 and a beta of 1.20. Silicon Laboratories has a 12 month low of $94.00 and a 12 month high of $154.91.

Silicon Laboratories (NASDAQ:SLAB - Get Free Report) last issued its earnings results on Monday, November 4th. The semiconductor company reported ($0.13) earnings per share for the quarter, topping the consensus estimate of ($0.20) by $0.07. The company had revenue of $166.00 million during the quarter, compared to the consensus estimate of $165.50 million. Silicon Laboratories had a negative net margin of 46.93% and a negative return on equity of 12.60%. Silicon Laboratories's quarterly revenue was down 18.5% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.48 EPS. On average, research analysts forecast that Silicon Laboratories will post -3.56 EPS for the current fiscal year.

About Silicon Laboratories

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.