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

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

SLAB has been the subject of a number of other research reports. Benchmark raised shares of Silicon Laboratories from a "hold" rating to a "buy" rating and set a $160.00 price target for the company in a research report on Wednesday, February 5th. Morgan Stanley reduced their price objective on Silicon Laboratories from $123.00 to $97.00 and set an "equal weight" rating on the stock in a research note on Tuesday, November 5th. Barclays raised their price objective on Silicon Laboratories from $75.00 to $120.00 and gave the stock an "equal weight" rating in a research note on Friday, January 17th. Susquehanna assumed coverage on Silicon Laboratories in a research note on Tuesday, December 17th. They set a "neutral" rating and a $130.00 price objective on the stock. Finally, Stifel Nicolaus raised their price objective on Silicon Laboratories from $135.00 to $145.00 and gave the stock a "buy" rating in a research note on Monday, January 6th. One equities research 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 data from MarketBeat, the company presently has an average rating of "Hold" and an average target price of $136.20.

Silicon Laboratories Stock Performance

Shares of SLAB stock traded down $0.90 during mid-day trading on Friday, reaching $149.54. 266,274 shares of the company were exchanged, compared to its average volume of 374,538. Silicon Laboratories has a fifty-two week low of $94.00 and a fifty-two week high of $154.91. The company has a market capitalization of $4.85 billion, a P/E ratio of -25.18 and a beta of 1.16. The business's 50 day simple moving average is $133.85 and its 200 day simple moving average is $118.49.

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 for the quarter, hitting analysts' consensus estimates of ($0.11). Silicon Laboratories had a negative net margin of 32.69% and a negative return on equity of 10.46%. The business had revenue of $166.25 million during the quarter, compared to the consensus estimate of $166.09 million. During the same quarter last year, the company earned ($1.19) earnings per share. The business's quarterly revenue was up 91.4% compared to the same quarter last year. On average, analysts forecast that Silicon Laboratories will post -0.47 EPS for the current year.

Insider Activity

In other news, Director William G. Bock sold 2,000 shares of the firm's stock in a transaction 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 transaction, the director now directly 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 ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Navdeep S. Sooch sold 2,360 shares of the firm's stock in a transaction 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 transaction, the director now directly owns 400,567 shares in the company, valued at $59,684,483. This trade represents a 0.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 1.72% of the company's stock.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the business. Capital Research Global Investors grew its holdings in Silicon Laboratories by 23.3% during the fourth quarter. Capital Research Global Investors now owns 2,131,920 shares of the semiconductor company's stock worth $264,827,000 after acquiring an additional 403,010 shares during the period. Norges Bank acquired a new position in Silicon Laboratories during the fourth quarter worth about $34,622,000. Wellington Management Group LLP grew its holdings 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 acquiring an additional 195,997 shares during the period. Invesco Ltd. grew its holdings in Silicon Laboratories by 46.9% during the fourth quarter. Invesco Ltd. now owns 595,382 shares of the semiconductor company's stock worth $73,958,000 after acquiring an additional 190,085 shares during the period. Finally, Raymond James Financial Inc. acquired a new position in Silicon Laboratories during the fourth quarter worth about $14,252,000.

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.