Silicon Laboratories (NASDAQ:SLAB) Receives Buy Rating from Needham & Company LLC

Silicon Laboratories (NASDAQ:SLAB - Get Free Report)'s stock had its "buy" rating reaffirmed by equities researchers at Needham & Company LLC in a research note issued on Wednesday,Benzinga reports. They currently have a $150.00 price objective on the semiconductor company's stock. Needham & Company LLC's target price points to a potential upside of 21.16% from the stock's previous close.

Several other equities analysts also recently commented on SLAB. Barclays upped their price target on shares of Silicon Laboratories from $75.00 to $120.00 and gave the company an "equal weight" rating in a research note on Friday, January 17th. Stifel Nicolaus lifted their target price on Silicon Laboratories from $135.00 to $145.00 and gave the stock a "buy" rating in a research note on Monday, January 6th. KeyCorp lifted their price target on Silicon Laboratories from $115.00 to $160.00 and gave the company an "overweight" rating in a research report on Wednesday, January 22nd. StockNews.com downgraded Silicon Laboratories from a "hold" rating to a "sell" rating in a research report on Friday, February 28th. Finally, Benchmark raised Silicon Laboratories from a "hold" rating to a "buy" rating and set a $160.00 price target on the stock in a research note on Wednesday, February 5th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $136.20.

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Silicon Laboratories Price Performance

SLAB stock opened at $123.80 on Wednesday. Silicon Laboratories has a 12 month low of $94.00 and a 12 month high of $160.00. The company's 50 day simple moving average is $138.71 and its 200-day simple moving average is $122.77. The firm has a market capitalization of $4.02 billion, a PE ratio of -20.84 and a beta of 1.15.

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

Insider Transactions at Silicon Laboratories

In other Silicon Laboratories news, Director Navdeep S. Sooch sold 2,360 shares of the firm's stock in a transaction that occurred on Wednesday, February 5th. The shares were sold at an average price of $149.00, for a total value of $351,640.00. Following the sale, the director now owns 400,567 shares in the company, valued at approximately $59,684,483. This trade represents a 0.59 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director William G. Bock sold 1,000 shares of the company's stock in a transaction 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 completion of the transaction, the director now directly owns 31,115 shares in the company, valued at $4,649,514.45. This represents a 3.11 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 5,360 shares of company stock worth $782,610 in the last ninety days. Insiders own 1.72% of the company's stock.

Institutional Trading of Silicon Laboratories

Several large investors have recently added to or reduced their stakes in the company. Jones Financial Companies Lllp raised its holdings in Silicon Laboratories by 44.5% in the fourth quarter. Jones Financial Companies Lllp now owns 224 shares of the semiconductor company's stock worth $28,000 after purchasing an additional 69 shares during the period. Advisors Asset Management Inc. raised its stake in Silicon Laboratories by 159.4% in the 3rd quarter. Advisors Asset Management Inc. now owns 275 shares of the semiconductor company's stock worth $32,000 after purchasing an additional 169 shares in the last quarter. Headlands Technologies LLC acquired a new position in shares of Silicon Laboratories in the 4th quarter valued at approximately $70,000. Venturi Wealth Management LLC grew its holdings in shares of Silicon Laboratories by 207.0% during the 4th quarter. Venturi Wealth Management LLC now owns 786 shares of the semiconductor company's stock valued at $98,000 after purchasing an additional 530 shares during the last quarter. Finally, Asset Management One Co. Ltd. bought a new stake in Silicon Laboratories during the 4th quarter worth approximately $117,000.

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.

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