KeyCorp Raises Silicon Laboratories (NASDAQ:SLAB) Price Target to $160.00

Silicon Laboratories (NASDAQ:SLAB) had its target price increased by KeyCorp from $115.00 to $160.00 in a report published on Wednesday morning,Benzinga reports. KeyCorp currently has an overweight rating on the semiconductor company’s stock.

A number of other brokerages also recently weighed in on SLAB. Benchmark reaffirmed a “hold” rating on shares of Silicon Laboratories in a research report on Tuesday, November 5th. Barclays raised their price target on shares of Silicon Laboratories from $75.00 to $120.00 and gave the company an “equal weight” rating in a report on Friday, January 17th. Morgan Stanley reduced their price objective on shares of Silicon Laboratories from $123.00 to $97.00 and set an “equal weight” rating for the company in a research note on Tuesday, November 5th. Susquehanna started coverage on shares of Silicon Laboratories in a research note on Tuesday, December 17th. They issued a “neutral” rating and a $130.00 target price for the company. Finally, StockNews.com raised shares of Silicon Laboratories to a “sell” rating in a report on Friday, November 8th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, Silicon Laboratories has an average rating of “Hold” and an average target price of $133.56.

Silicon Laboratories Price Performance

Shares of Silicon Laboratories stock opened at $135.53 on Wednesday. The stock has a market cap of $4.40 billion, a price-to-earnings ratio of -18.31 and a beta of 1.17. The firm’s 50-day moving average is $123.32 and its two-hundred day moving average is $115.75. Silicon Laboratories has a 1 year low of $94.00 and a 1 year high of $154.91.

Silicon Laboratories (NASDAQ:SLAB) last issued its quarterly earnings data on Monday, November 4th. The semiconductor company reported ($0.13) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.20) by $0.07. The company had revenue of $166.00 million for the quarter, compared to analyst estimates of $165.50 million. Silicon Laboratories had a negative net margin of 46.93% and a negative return on equity of 12.60%. Silicon Laboratories’s revenue was down 18.5% compared to the same quarter last year. During the same period last year, the company posted $0.48 earnings per share. On average, equities analysts expect that Silicon Laboratories will post -3.56 earnings per share for the current year.

Insider Activity

In related news, Director William G. Bock sold 2,000 shares of the stock in a transaction that occurred on Wednesday, January 22nd. The shares were sold at an average price of $140.77, for a total value of $281,540.00. Following the transaction, the director now owns 32,115 shares in the company, valued at approximately $4,520,828.55. This represents a 5.86 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 1.72% of the company’s stock.

Institutional Trading of Silicon Laboratories

Hedge funds and other institutional investors have recently made changes to their positions in the business. Advisors Asset Management Inc. boosted its holdings in Silicon Laboratories by 159.4% in the third quarter. Advisors Asset Management Inc. now owns 275 shares of the semiconductor company’s stock valued at $32,000 after purchasing an additional 169 shares during the last quarter. GAMMA Investing LLC raised its stake in shares of Silicon Laboratories by 84.1% during the 3rd quarter. GAMMA Investing LLC now owns 497 shares of the semiconductor company’s stock valued at $57,000 after buying an additional 227 shares during the last quarter. International Assets Investment Management LLC lifted its holdings in shares of Silicon Laboratories by 11,457.1% in the 3rd quarter. International Assets Investment Management LLC now owns 809 shares of the semiconductor company’s stock valued at $93,000 after buying an additional 802 shares during the period. KBC Group NV boosted its stake in shares of Silicon Laboratories by 42.1% in the fourth quarter. KBC Group NV now owns 1,279 shares of the semiconductor company’s stock worth $159,000 after buying an additional 379 shares during the last quarter. Finally, nVerses Capital LLC acquired a new stake in Silicon Laboratories during the third quarter worth about $196,000.

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.