Silicon Laboratories’ (SLAB) Buy Rating Reiterated at Benchmark

Silicon Laboratories (NASDAQ:SLAB)‘s stock had its “buy” rating reiterated by research analysts at Benchmark in a research note issued on Tuesday,Benzinga reports. They presently have a $160.00 target price on the semiconductor company’s stock. Benchmark’s price target suggests a potential upside of 31.76% from the stock’s current price.

Other analysts have also recently issued reports about the company. Barclays dropped their price target on Silicon Laboratories from $120.00 to $80.00 and set an “equal weight” rating on the stock in a research report on Tuesday, April 22nd. Stifel Nicolaus lowered their price objective on Silicon Laboratories from $145.00 to $120.00 and set a “buy” rating for the company in a research note on Thursday, April 17th. Wall Street Zen raised Silicon Laboratories from a “sell” rating to a “hold” rating in a research note on Wednesday, May 14th. Susquehanna lifted their price target on Silicon Laboratories from $100.00 to $110.00 and gave the stock a “neutral” rating in a research report on Wednesday, May 14th. Finally, Needham & Company LLC reissued a “buy” rating and set a $150.00 price objective on shares of Silicon Laboratories in a research report on Wednesday, May 14th. Four analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $126.50.

Silicon Laboratories Stock Down 1.1%

Shares of SLAB stock opened at $121.43 on Tuesday. The business’s fifty day moving average is $108.77 and its 200 day moving average is $121.84. The stock has a market cap of $3.96 billion, a price-to-earnings ratio of -20.44 and a beta of 1.36. Silicon Laboratories has a twelve month low of $82.82 and a twelve month high of $160.00.

Silicon Laboratories (NASDAQ:SLAB) last released its earnings results on Tuesday, May 13th. The semiconductor company reported ($0.08) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.09) by $0.01. Silicon Laboratories had a negative net margin of 32.69% and a negative return on equity of 10.46%. The firm had revenue of $177.71 million for the quarter, compared to the consensus estimate of $177.48 million. During the same period in the prior year, the firm earned ($0.92) EPS. The company’s revenue was up 67.0% compared to the same quarter last year. Equities research analysts expect that Silicon Laboratories will post -0.97 earnings per share for the current fiscal year.

Insider Activity at Silicon Laboratories

In related news, CEO Robert Matthew Johnson sold 5,879 shares of the firm’s stock in a transaction that occurred on Friday, May 16th. The shares were sold at an average price of $131.20, for a total value of $771,324.80. Following the sale, the chief executive officer now owns 73,688 shares in the company, valued at approximately $9,667,865.60. This trade represents a 7.39% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Christy Wyatt sold 546 shares of the business’s stock in a transaction on Tuesday, May 6th. The shares were sold at an average price of $104.45, for a total transaction of $57,029.70. Following the sale, the director now owns 8,492 shares of the company’s stock, valued at approximately $886,989.40. This represents a 6.04% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 11,626 shares of company stock valued at $1,509,319 over the last ninety days. Insiders own 1.60% of the company’s stock.

Institutional Trading of Silicon Laboratories

Hedge funds have recently bought and sold shares of the company. Quarry LP bought a new stake in shares of Silicon Laboratories during the 1st quarter valued at about $25,000. Jones Financial Companies Lllp lifted its position in Silicon Laboratories by 44.5% during the fourth quarter. Jones Financial Companies Lllp now owns 224 shares of the semiconductor company’s stock valued at $28,000 after purchasing an additional 69 shares in the last quarter. Skandinaviska Enskilda Banken AB publ purchased a new stake in Silicon Laboratories in the first quarter worth about $34,000. UMB Bank n.a. raised its stake in shares of Silicon Laboratories by 111.3% in the first quarter. UMB Bank n.a. now owns 336 shares of the semiconductor company’s stock worth $38,000 after buying an additional 177 shares during the period. Finally, Parallel Advisors LLC raised its stake in shares of Silicon Laboratories by 143.7% in the first quarter. Parallel Advisors LLC now owns 463 shares of the semiconductor company’s stock worth $52,000 after buying an additional 273 shares during the period.

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.