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

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

SLAB has been the subject of a number of other reports. JPMorgan Chase & Co. decreased their target price on Silicon Laboratories from $150.00 to $135.00 and set an "overweight" rating for the company in a research report on Tuesday, November 5th. KeyCorp boosted 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. Morgan Stanley cut their price target on Silicon Laboratories from $123.00 to $97.00 and set an "equal weight" rating for the company in a report on Tuesday, November 5th. Needham & Company LLC boosted their price objective on Silicon Laboratories from $140.00 to $150.00 and gave the company a "buy" rating in a research note on Wednesday, February 5th. Finally, Benchmark raised Silicon Laboratories from a "hold" rating to a "buy" rating and set a $160.00 price objective on the stock in a report on Wednesday, February 5th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of $136.20.

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Silicon Laboratories Stock Performance

SLAB stock remained flat at $133.96 during trading on Friday. The company had a trading volume of 407,706 shares, compared to its average volume of 371,864. The business's fifty day simple moving average is $137.95 and its 200 day simple moving average is $121.80. The firm has a market capitalization of $4.35 billion, a price-to-earnings ratio of -22.55 and a beta of 1.16. Silicon Laboratories has a fifty-two week low of $94.00 and a fifty-two week high of $160.00.

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

Insider Activity at Silicon Laboratories

In other Silicon Laboratories news, Director William G. Bock sold 2,000 shares of Silicon Laboratories stock in a transaction that occurred on Wednesday, January 22nd. The stock was sold at an average price of $140.77, for a total transaction 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. The trade was a 5.86 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Navdeep S. Sooch sold 2,360 shares of the stock in a transaction that occurred on Wednesday, February 5th. The stock was sold at an average price of $149.00, for a total value of $351,640.00. Following the completion of the transaction, the director now directly owns 400,567 shares of the company's stock, valued at $59,684,483. This represents a 0.59 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 5,360 shares of company stock worth $782,610 over the last 90 days. 1.72% of the stock is owned by company insiders.

Hedge Funds Weigh In On Silicon Laboratories

Several institutional investors and hedge funds have recently added to or reduced their stakes in SLAB. Jefferies Financial Group Inc. bought a new position in shares of Silicon Laboratories in the 4th quarter worth about $1,303,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in shares of Silicon Laboratories by 18.0% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 95,477 shares of the semiconductor company's stock valued at $11,860,000 after purchasing an additional 14,552 shares in the last quarter. Squarepoint Ops LLC lifted its holdings in shares of Silicon Laboratories by 735.0% during the fourth quarter. Squarepoint Ops LLC now owns 54,935 shares of the semiconductor company's stock valued at $6,824,000 after purchasing an additional 48,356 shares during the last quarter. Summit Partners Public Asset Management LLC purchased a new position in shares of Silicon Laboratories during the fourth quarter valued at approximately $2,857,000. Finally, Silvercrest Asset Management Group LLC boosted its position in shares of Silicon Laboratories by 45.7% in the 4th quarter. Silvercrest Asset Management Group LLC now owns 232,208 shares of the semiconductor company's stock worth $28,845,000 after purchasing an additional 72,783 shares in the last quarter.

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.