Silicon Laboratories (NASDAQ:SLAB) Sets New 12-Month High – Still a Buy?

Silicon Laboratories, Inc. (NASDAQ:SLAB)’s share price hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as $209.01 and last traded at $208.3250, with a volume of 2039 shares trading hands. The stock had previously closed at $208.15.

Analysts Set New Price Targets

A number of equities analysts have weighed in on SLAB shares. KeyCorp downgraded Silicon Laboratories from an “overweight” rating to a “hold” rating in a research report on Wednesday, February 4th. Weiss Ratings reissued a “sell (d-)” rating on shares of Silicon Laboratories in a research report on Friday. Needham & Company LLC cut shares of Silicon Laboratories from a “buy” rating to a “hold” rating in a report on Wednesday, February 4th. Benchmark downgraded shares of Silicon Laboratories from a “buy” rating to a “hold” rating in a research report on Wednesday, February 4th. Finally, Royal Bank Of Canada lifted their price target on shares of Silicon Laboratories from $160.00 to $205.00 and gave the company a “sector perform” rating in a research note on Thursday, February 5th. One analyst has rated the stock with a Buy rating, eight have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $167.78.

Silicon Laboratories Trading Up 0.3%

The company has a market cap of $6.89 billion, a P/E ratio of -104.94 and a beta of 1.46. The business has a 50 day moving average price of $192.98 and a 200-day moving average price of $154.60.

Silicon Laboratories (NASDAQ:SLAB) last released its earnings results on Wednesday, February 4th. The semiconductor company reported $0.56 earnings per share for the quarter, beating the consensus estimate of $0.54 by $0.02. The business had revenue of $208.21 million during the quarter, compared to analysts’ expectations of $207.63 million. Silicon Laboratories had a negative net margin of 8.27% and a negative return on equity of 4.07%. The firm’s revenue was up 25.3% on a year-over-year basis. During the same period last year, the business earned ($0.11) earnings per share. On average, sell-side analysts expect that Silicon Laboratories, Inc. will post -0.97 earnings per share for the current year.

Insider Activity at Silicon Laboratories

In other news, Director Nina Richardson sold 1,355 shares of Silicon Laboratories stock in a transaction dated Tuesday, January 13th. The shares were sold at an average price of $149.00, for a total value of $201,895.00. Following the completion of the transaction, the director owned 8,543 shares of the company’s stock, valued at $1,272,907. This trade represents a 13.69% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. 1.60% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Silicon Laboratories

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Norges Bank bought a new stake in Silicon Laboratories in the fourth quarter valued at approximately $56,008,000. Thrivent Financial for Lutherans boosted its stake in shares of Silicon Laboratories by 312.9% during the 4th quarter. Thrivent Financial for Lutherans now owns 467,958 shares of the semiconductor company’s stock worth $61,162,000 after acquiring an additional 354,621 shares during the period. AQR Capital Management LLC boosted its stake in shares of Silicon Laboratories by 1,970.7% during the 2nd quarter. AQR Capital Management LLC now owns 370,492 shares of the semiconductor company’s stock worth $54,516,000 after acquiring an additional 352,600 shares during the period. Westfield Capital Management Co. LP acquired a new position in shares of Silicon Laboratories during the 3rd quarter worth approximately $44,887,000. Finally, Squarepoint Ops LLC increased its holdings in shares of Silicon Laboratories by 113.6% during the 3rd quarter. Squarepoint Ops LLC now owns 358,016 shares of the semiconductor company’s stock worth $46,947,000 after acquiring an additional 190,421 shares during the last quarter.

About Silicon Laboratories

Silicon Laboratories (NASDAQ:SLAB) is a global semiconductor company that develops high-performance analog and mixed-signal integrated circuits, wireless system-on-chips (SoCs), microcontrollers, and radio frequency (RF) solutions. Its product portfolio is tailored to support the Internet of Things (IoT), infrastructure, industrial automation, consumer electronics, automotive, and energy markets. By combining silicon, software, and tools, Silicon Labs aims to accelerate development cycles and deliver low-power, highly integrated solutions that address demanding application requirements.

Founded in 1996 and headquartered in Austin, Texas, Silicon Labs has grown into a multinational organization with engineering and sales operations across North America, Europe, and Asia.