Silicon Laboratories (NASDAQ:SLAB) Raised to Hold at StockNews.com

StockNews.com upgraded shares of Silicon Laboratories (NASDAQ:SLAB - Free Report) from a sell rating to a hold rating in a report issued on Thursday.

Several other equities analysts have also recently issued reports on the stock. Stifel Nicolaus boosted their price objective on shares of Silicon Laboratories from $135.00 to $145.00 and gave the company a "buy" rating in a research note on Monday, January 6th. Morgan Stanley dropped their price target on shares of 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. JPMorgan Chase & Co. reduced their price objective on shares of Silicon Laboratories from $150.00 to $135.00 and set an "overweight" rating for the company in a research report on Tuesday, November 5th. Susquehanna initiated coverage on Silicon Laboratories in a research report on Tuesday, December 17th. They set a "neutral" rating and a $130.00 target price on the stock. Finally, Needham & Company LLC raised their price target on Silicon Laboratories from $140.00 to $150.00 and gave the company a "buy" rating in a report on Wednesday, February 5th. Six analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $136.20.

Silicon Laboratories Price Performance

Shares of NASDAQ:SLAB traded up $3.66 on Thursday, reaching $146.32. The company's stock had a trading volume of 491,774 shares, compared to its average volume of 370,266. Silicon Laboratories has a 52-week low of $94.00 and a 52-week high of $154.91. The stock has a market capitalization of $4.75 billion, a P/E ratio of -24.63 and a beta of 1.16. The stock's 50-day moving average is $129.76 and its two-hundred day moving average is $117.15.

Silicon Laboratories (NASDAQ:SLAB - Get Free Report) last posted its quarterly earnings data on Tuesday, February 4th. The semiconductor company reported ($0.11) EPS for the quarter, meeting the consensus estimate of ($0.11). Silicon Laboratories had a negative return on equity of 10.46% and a negative net margin of 32.69%. The firm had revenue of $166.25 million during the quarter, compared to the consensus estimate of $166.09 million. During the same period in the prior year, the business earned ($1.19) EPS. The firm's revenue was up 91.4% compared to the same quarter last year. Equities analysts forecast that Silicon Laboratories will post -0.47 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Silicon Laboratories news, Director Navdeep S. Sooch sold 2,360 shares of Silicon Laboratories stock in a transaction dated Wednesday, February 5th. The shares were sold at an average price of $149.00, for a total transaction of $351,640.00. Following the completion of the transaction, 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 legal filing with the SEC, which is accessible through this link. Also, Director William G. Bock sold 2,000 shares of the stock in a transaction that occurred 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 in the company, valued at $4,520,828.55. This represents a 5.86 % decrease in their ownership of the stock. 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 institutional investors and hedge funds have recently made changes to their positions in SLAB. Jones Financial Companies Lllp increased its position in Silicon Laboratories by 44.5% during the 4th quarter. Jones Financial Companies Lllp now owns 224 shares of the semiconductor company's stock worth $28,000 after purchasing an additional 69 shares in the last quarter. Advisors Asset Management Inc. boosted its stake in shares of Silicon Laboratories by 159.4% during 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 during the last quarter. GAMMA Investing LLC grew its holdings in shares of Silicon Laboratories by 84.1% during the third quarter. GAMMA Investing LLC now owns 497 shares of the semiconductor company's stock worth $57,000 after buying an additional 227 shares in the last quarter. International Assets Investment Management LLC raised its position in shares of Silicon Laboratories by 11,457.1% in the third quarter. International Assets Investment Management LLC now owns 809 shares of the semiconductor company's stock valued at $93,000 after buying an additional 802 shares during the last quarter. Finally, Venturi Wealth Management LLC lifted its stake in shares of Silicon Laboratories by 207.0% during the fourth quarter. Venturi Wealth Management LLC now owns 786 shares of the semiconductor company's stock valued at $98,000 after buying an additional 530 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.