Silicon Laboratories (NASDAQ:SLAB) Downgraded to Sell Rating by StockNews.com

Silicon Laboratories (NASDAQ:SLAB - Get Free Report) was downgraded by stock analysts at StockNews.com from a "hold" rating to a "sell" rating in a note issued to investors on Thursday.

Several other research analysts have also recently commented on the stock. Needham & Company LLC restated a "buy" rating and issued a $150.00 target price on shares of Silicon Laboratories in a research report on Wednesday, March 12th. Susquehanna initiated coverage on Silicon Laboratories in a report on Tuesday, December 17th. They issued a "neutral" rating and a $130.00 price objective for the company. Barclays raised their target price on Silicon Laboratories from $75.00 to $120.00 and gave the company an "equal weight" rating in a research report on Friday, January 17th. Stifel Nicolaus boosted their price target on Silicon Laboratories from $135.00 to $145.00 and gave the stock a "buy" rating in a research report on Monday, January 6th. Finally, KeyCorp raised 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. One analyst has rated the stock with a sell rating, five have given a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $136.20.

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Silicon Laboratories Stock Performance

Shares of Silicon Laboratories stock traded down $0.15 on Thursday, reaching $112.88. 118,100 shares of the company were exchanged, compared to its average volume of 314,106. The firm has a market cap of $3.67 billion, a price-to-earnings ratio of -18.98 and a beta of 1.15. Silicon Laboratories has a 1-year low of $94.00 and a 1-year high of $160.00. The company's 50-day moving average is $136.65 and its two-hundred day moving average is $123.76.

Silicon Laboratories (NASDAQ:SLAB - Get Free Report) last posted its earnings results on Tuesday, February 4th. The semiconductor company reported ($0.11) earnings per share (EPS) for the quarter, meeting 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 company had revenue of $166.25 million for the quarter, compared to analysts' expectations of $166.09 million. During the same period last year, the business posted ($1.19) earnings per share. The firm's quarterly revenue was up 91.4% compared to the same quarter last year. As a group, sell-side analysts forecast that Silicon Laboratories will post -0.97 earnings per share for the current year.

Insider Buying and Selling

In other news, Director William G. Bock sold 1,000 shares of Silicon Laboratories 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 of the company's stock, valued at $4,649,514.45. The trade was a 3.11 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, 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 completion of the sale, the director now owns 400,567 shares in the company, valued at $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 a total of 5,360 shares of company stock valued at $782,610 over the last three months. Company insiders own 1.60% of the company's stock.

Institutional Investors Weigh In On Silicon Laboratories

Several large investors have recently modified their holdings of SLAB. Raymond James Financial Inc. purchased a new stake in shares of Silicon Laboratories during the fourth quarter valued at $14,252,000. Arizona State Retirement System lifted its stake in Silicon Laboratories by 1.8% during the fourth quarter. Arizona State Retirement System now owns 9,360 shares of the semiconductor company's stock valued at $1,163,000 after buying an additional 167 shares in the last quarter. Franklin Resources Inc. boosted its holdings in shares of Silicon Laboratories by 1.9% in the third quarter. Franklin Resources Inc. now owns 231,889 shares of the semiconductor company's stock worth $27,001,000 after buying an additional 4,278 shares during the period. Point72 Asset Management L.P. purchased a new position in shares of Silicon Laboratories in the third quarter worth approximately $7,408,000. Finally, Barclays PLC raised its holdings in shares of Silicon Laboratories by 23.4% during the third quarter. Barclays PLC now owns 70,568 shares of the semiconductor company's stock valued at $8,157,000 after acquiring an additional 13,363 shares during the period.

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.