Silicon Laboratories (NASDAQ:SLAB) Reaches New 52-Week High - Still a Buy?

Shares of Silicon Laboratories Inc. (NASDAQ:SLAB - Get Free Report) hit a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $155.15 and last traded at $154.23, with a volume of 50027 shares trading hands. The stock had previously closed at $153.83.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on SLAB shares. JPMorgan Chase & Co. decreased their price target on shares of Silicon Laboratories from $150.00 to $135.00 and set an "overweight" rating for the company in a report on Tuesday, November 5th. Stifel Nicolaus boosted their price target on shares of Silicon Laboratories from $135.00 to $145.00 and gave the company a "buy" rating in a report on Monday, January 6th. Barclays boosted their price target 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. KeyCorp boosted their price objective on shares of Silicon Laboratories from $115.00 to $160.00 and gave the company an "overweight" rating in a research report on Wednesday, January 22nd. Finally, Susquehanna started coverage on shares of Silicon Laboratories in a research report on Tuesday, December 17th. They issued a "neutral" rating and a $130.00 price objective on the stock. One research 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. According to data from MarketBeat, the stock has an average rating of "Hold" and an average price target of $136.20.

Silicon Laboratories Stock Performance

The firm's 50-day simple moving average is $136.14 and its 200 day simple moving average is $119.75. The stock has a market capitalization of $5.04 billion, a P/E ratio of -26.15 and a beta of 1.16.

Silicon Laboratories (NASDAQ:SLAB - Get Free Report) last issued its quarterly earnings results on Tuesday, February 4th. The semiconductor company reported ($0.11) EPS for the quarter, hitting the consensus estimate of ($0.11). Silicon Laboratories had a negative net margin of 32.69% and a negative return on equity of 10.46%. The firm had revenue of $166.25 million for the quarter, compared to analysts' expectations of $166.09 million. During the same period in the previous year, the firm posted ($1.19) EPS. The company's revenue for the quarter was up 91.4% on a year-over-year basis. As a group, research analysts expect that Silicon Laboratories Inc. will post -0.97 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Director William G. Bock sold 2,000 shares of the company's stock in a transaction dated Wednesday, January 22nd. The shares were sold at an average price of $140.77, for a total value of $281,540.00. Following the sale, the director now directly owns 32,115 shares of the company's stock, valued at approximately $4,520,828.55. This represents a 5.86 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Navdeep S. Sooch sold 2,360 shares of the company's stock in a transaction dated 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 sale, the director now directly owns 400,567 shares in the company, valued at approximately $59,684,483. The trade was a 0.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 5,360 shares of company stock valued at $782,610 in the last three months. 1.72% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Silicon Laboratories

A number of institutional investors and hedge funds have recently modified their holdings of the company. FMR LLC raised its holdings in shares of Silicon Laboratories by 0.5% in the 4th quarter. FMR LLC now owns 4,867,203 shares of the semiconductor company's stock valued at $604,604,000 after purchasing an additional 23,833 shares during the period. Vanguard Group Inc. raised its holdings in shares of Silicon Laboratories by 1.9% in the 4th quarter. Vanguard Group Inc. now owns 3,959,580 shares of the semiconductor company's stock valued at $491,859,000 after purchasing an additional 71,942 shares during the period. Capital Research Global Investors raised its holdings in shares of Silicon Laboratories by 23.3% in the 4th quarter. Capital Research Global Investors now owns 2,131,920 shares of the semiconductor company's stock valued at $264,827,000 after purchasing an additional 403,010 shares during the period. Wellington Management Group LLP raised its holdings in shares of Silicon Laboratories by 28.3% in the 3rd 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. Finally, Geode Capital Management LLC grew its stake in Silicon Laboratories by 2.1% in the 3rd quarter. Geode Capital Management LLC now owns 781,049 shares of the semiconductor company's stock valued at $90,282,000 after buying an additional 15,728 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.