Stifel Nicolaus Lowers Silicon Laboratories (NASDAQ:SLAB) Price Target to $120.00

Silicon Laboratories (NASDAQ:SLAB - Free Report) had its price objective lowered by Stifel Nicolaus from $145.00 to $120.00 in a report released on Thursday morning,Benzinga reports. Stifel Nicolaus currently has a buy rating on the semiconductor company's stock.

Several other brokerages have also commented on SLAB. Benchmark reaffirmed a "buy" rating and set a $160.00 price target on shares of Silicon Laboratories in a research report on Wednesday, March 12th. Needham & Company LLC reaffirmed a "buy" rating and issued a $150.00 target price on shares of Silicon Laboratories in a research report on Wednesday, March 12th. StockNews.com lowered Silicon Laboratories from a "hold" rating to a "sell" rating in a research note on Thursday, March 27th. Barclays boosted their target price on Silicon Laboratories from $75.00 to $120.00 and gave the stock an "equal weight" rating in a report on Friday, January 17th. Finally, KeyCorp raised their price target on shares of Silicon Laboratories from $115.00 to $160.00 and gave the company an "overweight" rating in a report on Wednesday, January 22nd. One investment analyst has rated the stock with a sell rating, five have given a hold rating and six have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $133.70.

Silicon Laboratories Trading Up 0.6 %

Shares of Silicon Laboratories stock traded up $0.50 during mid-day trading on Thursday, hitting $90.50. 545,330 shares of the stock were exchanged, compared to its average volume of 331,378. The company has a 50-day simple moving average of $121.99 and a 200 day simple moving average of $121.60. The stock has a market capitalization of $2.94 billion, a price-to-earnings ratio of -15.24 and a beta of 1.33. Silicon Laboratories has a twelve month low of $82.82 and a twelve month high of $160.00.

Silicon Laboratories (NASDAQ:SLAB - Get Free Report) last issued 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 return on equity of 10.46% and a negative net margin of 32.69%. The company had revenue of $166.25 million for the quarter, compared to analyst estimates of $166.09 million. During the same quarter in the prior year, the company posted ($1.19) EPS. The business's revenue for the quarter was up 91.4% compared to the same quarter last year. Equities research analysts forecast that Silicon Laboratories will post -0.97 earnings per share for the current fiscal year.

Insider Transactions at Silicon Laboratories

In other 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 transaction of $351,640.00. Following the completion of the sale, the director now owns 400,567 shares of the company's stock, valued at approximately $59,684,483. This trade represents a 0.59 % decrease in their ownership of the stock. The transaction 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 directly 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. Over the last ninety days, insiders have sold 5,360 shares of company stock valued at $782,610. 1.60% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in SLAB. Raymond James Financial Inc. bought a new position in shares of Silicon Laboratories during the fourth quarter worth about $14,252,000. Arizona State Retirement System raised its stake in Silicon Laboratories by 1.8% during the fourth quarter. Arizona State Retirement System now owns 9,360 shares of the semiconductor company's stock valued at $1,163,000 after buying an additional 167 shares in the last quarter. Franklin Resources Inc. lifted its holdings in Silicon Laboratories by 1.9% during the 3rd quarter. Franklin Resources Inc. now owns 231,889 shares of the semiconductor company's stock worth $27,001,000 after buying an additional 4,278 shares during the last quarter. Barclays PLC grew its position in shares of Silicon Laboratories by 23.4% in the 3rd quarter. Barclays PLC now owns 70,568 shares of the semiconductor company's stock worth $8,157,000 after acquiring an additional 13,363 shares in the last quarter. Finally, Arkadios Wealth Advisors acquired a new stake in shares of Silicon Laboratories during the 4th quarter valued at approximately $237,000.

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.