Silicon Laboratories (NASDAQ:SLAB) Raised to Buy at Needham & Company LLC

Silicon Laboratories (NASDAQ:SLAB) was upgraded by analysts at Needham & Company LLC from a “hold” rating to a “buy” rating in a research note issued to investors on Thursday, Briefing.com reports. The firm currently has a $150.00 target price on the semiconductor company’s stock. Needham & Company LLC’s target price would suggest a potential upside of 31.28% from the company’s previous close.

SLAB has been the topic of a number of other research reports. JPMorgan Chase & Co. increased their target price on Silicon Laboratories from $145.00 to $165.00 and gave the stock an “overweight” rating in a report on Thursday, February 8th. Summit Insights downgraded Silicon Laboratories from a “buy” rating to a “hold” rating in a report on Wednesday. StockNews.com downgraded Silicon Laboratories from a “hold” rating to a “sell” rating in a report on Friday, December 29th. Barclays raised their price target on Silicon Laboratories from $120.00 to $140.00 and gave the stock an “equal weight” rating in a report on Thursday, February 8th. Finally, TD Cowen raised their price target on Silicon Laboratories from $140.00 to $155.00 and gave the stock an “outperform” rating in a report on Thursday, February 8th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $142.88.

Silicon Laboratories Stock Down 8.9 %

NASDAQ:SLAB opened at $114.26 on Thursday. The business’s 50 day moving average is $134.92 and its two-hundred day moving average is $122.17. Silicon Laboratories has a 52 week low of $74.56 and a 52 week high of $166.94. The company has a market cap of $3.65 billion, a PE ratio of -101.11 and a beta of 1.27.

Silicon Laboratories (NASDAQ:SLAB) last released its earnings results on Wednesday, February 7th. The semiconductor company reported ($1.46) EPS for the quarter, topping analysts’ consensus estimates of ($1.91) by $0.45. Silicon Laboratories had a positive return on equity of 0.97% and a negative net margin of 4.41%. The company had revenue of $86.85 million for the quarter, compared to the consensus estimate of $85.32 million. As a group, sell-side analysts expect that Silicon Laboratories will post -1.66 EPS for the current fiscal year.

Institutional Trading of Silicon Laboratories

Large investors have recently added to or reduced their stakes in the business. Venturi Wealth Management LLC acquired a new stake in Silicon Laboratories in the 3rd quarter valued at approximately $30,000. GAMMA Investing LLC acquired a new stake in Silicon Laboratories in the 4th quarter valued at approximately $36,000. Gladius Capital Management LP increased its position in Silicon Laboratories by 328.7% in the 4th quarter. Gladius Capital Management LP now owns 373 shares of the semiconductor company’s stock valued at $49,000 after acquiring an additional 286 shares during the period. CWM LLC increased its position in Silicon Laboratories by 78.1% in the 4th quarter. CWM LLC now owns 374 shares of the semiconductor company’s stock valued at $49,000 after acquiring an additional 164 shares during the period. Finally, Mather Group LLC. acquired a new position in shares of Silicon Laboratories during the 1st quarter valued at $63,000.

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.