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

StockNews.com upgraded shares of Silicon Laboratories (NASDAQ:SLAB - Free Report) from a sell rating to a hold rating in a research note published on Tuesday morning.

SLAB has been the subject of several other reports. Benchmark restated a "buy" rating and issued a $160.00 price target on shares of Silicon Laboratories in a report on Wednesday, March 12th. Susquehanna initiated coverage on shares of Silicon Laboratories in a research note on Tuesday, December 17th. They set a "neutral" rating and a $130.00 price objective for the company. Stifel Nicolaus upped their price target on shares of Silicon Laboratories from $135.00 to $145.00 and gave the stock a "buy" rating in a research report on Monday, January 6th. KeyCorp increased their price target on Silicon Laboratories from $115.00 to $160.00 and gave the company an "overweight" rating in a research note on Wednesday, January 22nd. Finally, Needham & Company LLC restated a "buy" rating and set a $150.00 price objective on shares of Silicon Laboratories in a report on Wednesday, March 12th. Six analysts have rated the stock with a hold rating and six have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $136.20.

Remove Ads

Silicon Laboratories Price Performance

Shares of NASDAQ SLAB traded down $1.22 during midday trading on Tuesday, hitting $123.57. The stock had a trading volume of 418,789 shares, compared to its average volume of 304,259. The company's 50-day simple moving average is $138.03 and its 200 day simple moving average is $123.17. The firm has a market cap of $4.01 billion, a P/E ratio of -20.80 and a beta of 1.15. 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 released its earnings results on Tuesday, February 4th. The semiconductor company reported ($0.11) EPS 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 firm had revenue of $166.25 million during the quarter, compared to analyst estimates of $166.09 million. During the same quarter in the previous year, the business earned ($1.19) EPS. The business's quarterly revenue was up 91.4% compared to the same quarter last year. Equities analysts expect that Silicon Laboratories will post -0.97 EPS for the current fiscal year.

Insider Activity at Silicon Laboratories

In other Silicon Laboratories news, Director William G. Bock sold 1,000 shares of the business's stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $149.43, for a total transaction of $149,430.00. Following the sale, the director now directly owns 31,115 shares of the company's stock, valued at $4,649,514.45. The trade was a 3.11 % 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 business's stock in a transaction on Wednesday, February 5th. The stock was sold at an average price of $149.00, for a total transaction of $351,640.00. Following the completion of the sale, the director now directly owns 400,567 shares in the company, valued at approximately $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 valued at $782,610 over the last three months. 1.72% of the stock is owned by insiders.

Institutional Investors Weigh In On Silicon Laboratories

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Royce & Associates LP lifted its holdings in Silicon Laboratories by 19.5% in the third quarter. Royce & Associates LP now owns 24,500 shares of the semiconductor company's stock valued at $2,831,000 after buying an additional 4,000 shares during the period. Natixis Advisors LLC boosted its stake in Silicon Laboratories by 6.2% during the 3rd quarter. Natixis Advisors LLC now owns 12,050 shares of the semiconductor company's stock valued at $1,393,000 after purchasing an additional 708 shares during the last quarter. Thrivent Financial for Lutherans boosted its position in shares of Silicon Laboratories by 10.4% during the third quarter. Thrivent Financial for Lutherans now owns 131,548 shares of the semiconductor company's stock valued at $15,203,000 after buying an additional 12,435 shares during the last quarter. Quest Partners LLC purchased a new stake in shares of Silicon Laboratories in the third quarter valued at about $426,000. Finally, Meeder Asset Management Inc. increased its position in shares of Silicon Laboratories by 250.1% during the third quarter. Meeder Asset Management Inc. now owns 3,743 shares of the semiconductor company's stock valued at $433,000 after acquiring an additional 2,674 shares during 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.