Silicon Laboratories (NASDAQ:SLAB) Trading 6.4% Higher

Silicon Laboratories Inc. (NASDAQ:SLAB)’s stock price was up 6.4% during mid-day trading on Thursday . The company traded as high as $121.62 and last traded at $121.58. Approximately 77,753 shares were traded during mid-day trading, a decline of 76% from the average daily volume of 319,983 shares. The stock had previously closed at $114.26.

Analysts Set New Price Targets

A number of analysts recently issued reports on SLAB shares. Stifel Nicolaus lifted their price target on shares of Silicon Laboratories from $136.00 to $155.00 and gave the stock a “buy” rating in a research note on Tuesday, January 2nd. Needham & Company LLC upgraded shares of Silicon Laboratories from a “hold” rating to a “buy” rating and set a $150.00 price target for the company in a research note on Thursday. StockNews.com lowered shares of Silicon Laboratories from a “hold” rating to a “sell” rating in a research note on Friday, December 29th. JPMorgan Chase & Co. dropped their price target on shares of Silicon Laboratories from $165.00 to $150.00 and set an “overweight” rating for the company in a research note on Thursday. Finally, Citigroup dropped their price target on shares of Silicon Laboratories from $137.00 to $120.00 and set a “neutral” rating for the company in a research note on Thursday. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat, Silicon Laboratories has a consensus rating of “Hold” and a consensus target price of $135.00.

Silicon Laboratories Trading Up 2.7 %

The firm’s 50 day simple moving average is $133.57 and its two-hundred day simple moving average is $122.15.

Silicon Laboratories (NASDAQ:SLAB) last released its earnings results on Wednesday, April 24th. The semiconductor company reported ($1.34) EPS for the quarter, missing the consensus estimate of ($1.29) by ($0.05). Silicon Laboratories had a negative net margin of 16.36% and a negative return on equity of 4.45%. The company had revenue of $106.38 million for the quarter, compared to analyst estimates of $104.45 million. On average, equities research analysts forecast that Silicon Laboratories Inc. will post -1.66 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Louisiana State Employees Retirement System boosted its holdings in shares of Silicon Laboratories by 3.4% in the first quarter. Louisiana State Employees Retirement System now owns 9,200 shares of the semiconductor company’s stock worth $1,322,000 after buying an additional 300 shares during the period. Raymond James & Associates raised its position in shares of Silicon Laboratories by 14.5% in the first quarter. Raymond James & Associates now owns 91,168 shares of the semiconductor company’s stock valued at $13,103,000 after purchasing an additional 11,548 shares during the period. Berry Wealth Group LP bought a new position in shares of Silicon Laboratories in the first quarter valued at approximately $201,000. State of Michigan Retirement System raised its position in shares of Silicon Laboratories by 2.6% in the first quarter. State of Michigan Retirement System now owns 7,797 shares of the semiconductor company’s stock valued at $1,121,000 after purchasing an additional 200 shares during the period. Finally, Allspring Global Investments Holdings LLC raised its position in shares of Silicon Laboratories by 12.8% in the first quarter. Allspring Global Investments Holdings LLC now owns 62,397 shares of the semiconductor company’s stock valued at $8,968,000 after purchasing an additional 7,081 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.