Needham & Company LLC Raises Silicon Laboratories (NASDAQ:SLAB) Price Target to $150.00

Silicon Laboratories (NASDAQ:SLAB) had its price target raised by Needham & Company LLC from $140.00 to $150.00 in a research report sent to investors on Wednesday,Benzinga reports. Needham & Company LLC currently has a buy rating on the semiconductor company’s stock.

SLAB has been the topic of several other research reports. Benchmark raised shares of Silicon Laboratories from a “hold” rating to a “buy” rating and set a $160.00 price target on the stock in a report on Wednesday. Barclays upped their target price on Silicon Laboratories from $75.00 to $120.00 and gave the company an “equal weight” rating in a research note on Friday, January 17th. Susquehanna began coverage on Silicon Laboratories in a research report on Tuesday, December 17th. They set a “neutral” rating and a $130.00 price target for the company. JPMorgan Chase & Co. cut their price target on Silicon Laboratories from $150.00 to $135.00 and set an “overweight” rating for the company in a report on Tuesday, November 5th. Finally, Morgan Stanley decreased their price objective on Silicon Laboratories from $123.00 to $97.00 and set an “equal weight” rating on the stock in a research note on Tuesday, November 5th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and six have given a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $136.20.

Silicon Laboratories Stock Performance

SLAB opened at $149.06 on Wednesday. Silicon Laboratories has a 1-year low of $94.00 and a 1-year high of $154.91. The stock’s 50 day simple moving average is $128.35 and its 200 day simple moving average is $116.74.

Silicon Laboratories (NASDAQ:SLAB) last posted its earnings results on Tuesday, February 4th. The semiconductor company reported ($0.11) earnings per share for the quarter, meeting the consensus estimate of ($0.11). Silicon Laboratories had a negative return on equity of 12.60% and a negative net margin of 46.93%. The company had revenue of $166.25 million for the quarter, compared to analyst estimates of $166.09 million. During the same quarter in the prior year, the company earned ($1.19) earnings per share. Silicon Laboratories’s revenue was up 91.4% compared to the same quarter last year. On average, equities analysts expect that Silicon Laboratories will post -3.56 EPS for the current year.

Insiders Place Their Bets

In related news, Director William G. Bock sold 2,000 shares of the company’s stock in a transaction that occurred on Wednesday, January 22nd. The shares were sold at an average price of $140.77, for a total transaction of $281,540.00. Following the completion of the transaction, the director now owns 32,115 shares of the company’s stock, valued at approximately $4,520,828.55. This represents a 5.86 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 1.72% of the stock is owned by corporate insiders.

Institutional Trading of Silicon Laboratories

Institutional investors have recently made changes to their positions in the stock. Sanctuary Advisors LLC purchased a new position in shares of Silicon Laboratories in the 2nd quarter worth $229,000. Handelsbanken Fonder AB increased its stake in Silicon Laboratories by 41.0% during the third quarter. Handelsbanken Fonder AB now owns 9,637 shares of the semiconductor company’s stock worth $1,114,000 after acquiring an additional 2,800 shares during the last quarter. GAMMA Investing LLC raised its holdings in shares of Silicon Laboratories by 84.1% in the 3rd quarter. GAMMA Investing LLC now owns 497 shares of the semiconductor company’s stock worth $57,000 after purchasing an additional 227 shares during the period. CWM LLC lifted its stake in shares of Silicon Laboratories by 21.8% in the 3rd quarter. CWM LLC now owns 10,270 shares of the semiconductor company’s stock valued at $1,187,000 after purchasing an additional 1,835 shares in the last quarter. Finally, Inspire Investing LLC grew its holdings in shares of Silicon Laboratories by 12.8% during the 3rd quarter. Inspire Investing LLC now owns 3,580 shares of the semiconductor company’s stock worth $414,000 after purchasing an additional 405 shares during the period.

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.