Silicon Laboratories (NASDAQ:SLAB) Sets New 52-Week High – Time to Buy?

Silicon Laboratories, Inc. (NASDAQ:SLAB)’s stock price reached a new 52-week high on Tuesday . The company traded as high as $219.17 and last traded at $218.86, with a volume of 393845 shares trading hands. The stock had previously closed at $217.50.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on SLAB shares. Weiss Ratings restated a “sell (d-)” rating on shares of Silicon Laboratories in a research note on Friday, March 27th. Royal Bank Of Canada raised their price target on shares of Silicon Laboratories from $160.00 to $205.00 and gave the company a “sector perform” rating in a report on Thursday, February 5th. Benchmark downgraded shares of Silicon Laboratories from a “buy” rating to a “hold” rating in a report on Wednesday, February 4th. Needham & Company LLC downgraded shares of Silicon Laboratories from a “buy” rating to a “hold” rating in a report on Wednesday, February 4th. Finally, KeyCorp downgraded shares of Silicon Laboratories from an “overweight” rating to a “hold” rating in a report on Wednesday, February 4th. One analyst has rated the stock with a Buy rating, eight have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $171.43.

Silicon Laboratories Stock Performance

The business’s fifty day moving average price is $213.07 and its 200-day moving average price is $177.64. The stock has a market cap of $7.20 billion, a PE ratio of -142.75 and a beta of 1.40.

Silicon Laboratories (NASDAQ:SLAB) last announced its quarterly earnings results on Tuesday, May 5th. The semiconductor company reported $0.53 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.49 by $0.04. The firm had revenue of $213.50 million for the quarter, compared to the consensus estimate of $214.02 million. Silicon Laboratories had a negative net margin of 6.13% and a negative return on equity of 2.18%. The business’s quarterly revenue was up 20.1% compared to the same quarter last year. During the same quarter last year, the firm posted ($0.08) EPS. Analysts forecast that Silicon Laboratories, Inc. will post 0.74 earnings per share for the current fiscal year.

Insider Activity

In related news, CEO Robert Matthew Johnson sold 8,024 shares of the firm’s stock in a transaction that occurred on Monday, May 18th. The shares were sold at an average price of $216.83, for a total value of $1,739,843.92. Following the transaction, the chief executive officer owned 80,519 shares of the company’s stock, valued at approximately $17,458,934.77. This trade represents a 9.06% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 1.60% of the company’s stock.

Hedge Funds Weigh In On Silicon Laboratories

A number of institutional investors and hedge funds have recently made changes to their positions in SLAB. Norges Bank purchased a new position in shares of Silicon Laboratories in the fourth quarter worth approximately $56,008,000. Thrivent Financial for Lutherans boosted its holdings in shares of Silicon Laboratories by 312.9% in the fourth quarter. Thrivent Financial for Lutherans now owns 467,958 shares of the semiconductor company’s stock worth $61,162,000 after buying an additional 354,621 shares during the last quarter. AQR Capital Management LLC boosted its holdings in shares of Silicon Laboratories by 1,970.7% in the second quarter. AQR Capital Management LLC now owns 370,492 shares of the semiconductor company’s stock worth $54,516,000 after buying an additional 352,600 shares during the last quarter. Westfield Capital Management Co. LP purchased a new position in shares of Silicon Laboratories in the third quarter worth approximately $44,887,000. Finally, Hsbc Holdings PLC boosted its holdings in shares of Silicon Laboratories by 1,752.1% in the first quarter. Hsbc Holdings PLC now owns 214,071 shares of the semiconductor company’s stock worth $44,358,000 after buying an additional 202,513 shares during the last quarter.

Silicon Laboratories Company Profile

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.