Silicon Laboratories’ (SLAB) Buy Rating Reaffirmed at Needham & Company LLC

Needham & Company LLC reissued their buy rating on shares of Silicon Laboratories (NASDAQ:SLAB) in a research note issued to investors on Thursday, Benzinga reports. They currently have a $150.00 price target on the semiconductor company’s stock.

SLAB has been the topic of a number of other research reports. StockNews.com raised Silicon Laboratories to a sell rating in a research note on Tuesday, July 23rd. TD Cowen decreased their price objective on shares of Silicon Laboratories from $155.00 to $145.00 and set a buy rating on the stock in a report on Thursday, April 25th. Barclays dropped their target price on shares of Silicon Laboratories from $140.00 to $120.00 and set an equal weight rating for the company in a research note on Thursday, April 25th. Citigroup decreased their price target on shares of Silicon Laboratories from $137.00 to $120.00 and set a neutral rating on the stock in a research note on Thursday, April 25th. Finally, JPMorgan Chase & Co. dropped their price objective on shares of Silicon Laboratories from $165.00 to $150.00 and set an overweight rating for the company in a research report on Thursday, April 25th. 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 presently has an average rating of Hold and a consensus target price of $135.00.

Silicon Laboratories Stock Up 3.2 %

Shares of Silicon Laboratories stock opened at $120.32 on Thursday. The stock has a market capitalization of $3.89 billion, a P/E ratio of -36.35 and a beta of 1.20. Silicon Laboratories has a 12-month low of $74.56 and a 12-month high of $154.91. The company has a 50-day simple moving average of $118.50 and a 200 day simple moving average of $126.53.

Silicon Laboratories (NASDAQ:SLAB) last posted its quarterly earnings data on Wednesday, July 24th. The semiconductor company reported ($0.56) earnings per share for the quarter, topping the consensus estimate of ($0.64) by $0.08. The company had revenue of $145.40 million during the quarter, compared to analyst estimates of $140.18 million. Silicon Laboratories had a negative net margin of 36.53% and a negative return on equity of 9.13%. The company’s revenue was down 40.6% on a year-over-year basis. During the same quarter last year, the business posted $0.59 earnings per share. On average, equities analysts anticipate that Silicon Laboratories will post -3.21 earnings per share for the current year.

Insiders Place Their Bets

In other news, CEO Robert Matthew Johnson sold 7,230 shares of the firm’s stock in a transaction on Monday, June 3rd. The stock was sold at an average price of $123.80, for a total value of $895,074.00. Following the transaction, the chief executive officer now directly owns 47,910 shares in the company, valued at approximately $5,931,258. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 1.72% of the company’s stock.

Institutional Trading of Silicon Laboratories

A number of hedge funds have recently modified their holdings of the company. GAMMA Investing LLC bought a new stake in Silicon Laboratories in the fourth quarter valued at approximately $36,000. Gladius Capital Management LP increased its position in shares of 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 buying an additional 286 shares in the last quarter. CWM LLC raised its stake in Silicon Laboratories by 78.1% during the 4th quarter. CWM LLC now owns 374 shares of the semiconductor company’s stock worth $49,000 after buying an additional 164 shares during the period. Fidelis Capital Partners LLC bought a new position in Silicon Laboratories during the first quarter worth about $55,000. Finally, Mather Group LLC. acquired a new position in Silicon Laboratories in the first quarter valued at about $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.