Silicon Laboratories Inc. (NASDAQ:SLAB - Get Free Report)'s share price gapped up prior to trading on Wednesday after StockNews.com upgraded the stock from a sell rating to a hold rating. The stock had previously closed at $136.60, but opened at $141.58. Silicon Laboratories shares last traded at $141.97, with a volume of 31,547 shares trading hands.
Several other research firms have also commented on SLAB. Needham & Company LLC raised their price target on Silicon Laboratories from $140.00 to $150.00 and gave the stock a "buy" rating in a research report on Wednesday. Barclays raised their target price on Silicon Laboratories from $75.00 to $120.00 and gave the company an "equal weight" rating in a report on Friday, January 17th. Benchmark upgraded shares of 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. Susquehanna began coverage on Silicon Laboratories in a report on Tuesday, December 17th. They issued a "neutral" rating and a $130.00 target price for the company. Finally, Morgan Stanley dropped their price objective on shares of Silicon Laboratories from $123.00 to $97.00 and set an "equal weight" rating on the stock in a research report on Tuesday, November 5th. Six research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $136.20.
View Our Latest Research Report on Silicon Laboratories
Insider Buying and Selling
In other Silicon Laboratories news, 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 value of $351,640.00. Following the completion of the sale, the director now 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 sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director William G. Bock sold 2,000 shares of the company's stock in a transaction on Wednesday, January 22nd. The shares were sold at an average price of $140.77, for a total transaction of $281,540.00. Following the completion of the sale, the director now owns 32,115 shares of the company's stock, valued at approximately $4,520,828.55. This trade represents a 5.86 % decrease in their position. The disclosure for this sale can be found here. 1.72% of the stock is owned by company insiders.
Institutional Trading of Silicon Laboratories
Several hedge funds and other institutional investors have recently made changes to their positions in the company. Wellington Management Group LLP grew its position in Silicon Laboratories by 28.3% during the third quarter. Wellington Management Group LLP now owns 888,382 shares of the semiconductor company's stock worth $102,670,000 after buying an additional 195,997 shares during the period. Raymond James Financial Inc. acquired a new stake in shares of Silicon Laboratories during the fourth quarter valued at $14,252,000. Point72 Asset Management L.P. acquired a new position in shares of Silicon Laboratories in the third quarter valued at approximately $7,408,000. Fisher Asset Management LLC lifted its stake in shares of Silicon Laboratories by 114.4% during the 4th quarter. Fisher Asset Management LLC now owns 119,292 shares of the semiconductor company's stock worth $14,818,000 after purchasing an additional 63,652 shares during the period. Finally, FMR LLC boosted 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 buying an additional 54,708 shares during the last quarter.
Silicon Laboratories Price Performance
The firm's 50-day moving average is $129.76 and its 200 day moving average is $117.14. The stock has a market cap of $4.63 billion, a price-to-earnings ratio of -24.02 and a beta of 1.16.
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 for the quarter, meeting analysts' consensus estimates of ($0.11). The firm 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%. The firm's revenue for the quarter was up 91.4% compared to the same quarter last year. During the same quarter last year, the firm earned ($1.19) earnings per share. On average, sell-side analysts forecast that Silicon Laboratories Inc. will post -0.47 EPS for the current year.
About Silicon Laboratories
(
Get Free Report)
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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