Silicon Laboratories (NASDAQ:SLAB) Cut to Sell at StockNews.com

Silicon Laboratories (NASDAQ:SLAB) was downgraded by research analysts at StockNews.com from a “hold” rating to a “sell” rating in a report issued on Friday.

SLAB has been the topic of a number of other research reports. Susquehanna started coverage on Silicon Laboratories in a research note on Tuesday, December 17th. They issued a “neutral” rating and a $130.00 price objective on the stock. Morgan Stanley cut their price target on shares of Silicon Laboratories from $123.00 to $97.00 and set an “equal weight” rating for the company in a report on Tuesday, November 5th. Stifel Nicolaus lifted their price objective on shares of Silicon Laboratories from $135.00 to $145.00 and gave the stock a “buy” rating in a research note on Monday, January 6th. KeyCorp increased their target price on shares of Silicon Laboratories from $115.00 to $160.00 and gave the company an “overweight” rating in a research note on Wednesday, January 22nd. Finally, Benchmark upgraded shares of Silicon Laboratories from a “hold” rating to a “buy” rating and set a $160.00 price target on the stock in a research report on Wednesday, February 5th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $136.20.

Silicon Laboratories Stock Down 0.6 %

SLAB stock opened at $149.54 on Friday. The company has a 50-day simple moving average of $133.35 and a 200 day simple moving average of $118.24. The company has a market capitalization of $4.85 billion, a P/E ratio of -25.18 and a beta of 1.16. Silicon Laboratories has a fifty-two week low of $94.00 and a fifty-two week high of $154.91.

Silicon Laboratories (NASDAQ:SLAB) last issued its quarterly earnings results on Tuesday, February 4th. The semiconductor company reported ($0.11) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.11). Silicon Laboratories had a negative net margin of 32.69% and a negative return on equity of 10.46%. The company had revenue of $166.25 million during the quarter, compared to analyst estimates of $166.09 million. During the same period in the prior year, the business posted ($1.19) EPS. The business’s revenue for the quarter was up 91.4% compared to the same quarter last year. Equities analysts anticipate that Silicon Laboratories will post -0.47 EPS for the current year.

Insider Buying and Selling at Silicon Laboratories

In other news, Director Navdeep S. Sooch sold 2,360 shares of the company’s stock in a transaction dated Wednesday, February 5th. The stock was sold at an average price of $149.00, for a total value of $351,640.00. Following the transaction, the director now owns 400,567 shares in the company, valued at $59,684,483. This represents a 0.59 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director William G. Bock sold 2,000 shares of the firm’s stock in a transaction that occurred on Wednesday, January 22nd. The stock was sold at an average price of $140.77, for a total transaction of $281,540.00. Following the sale, 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 disclosure for this sale can be found here. Company insiders own 1.72% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. Capital Research Global Investors grew its holdings in shares of Silicon Laboratories by 23.3% during the 4th quarter. Capital Research Global Investors now owns 2,131,920 shares of the semiconductor company’s stock valued at $264,827,000 after acquiring an additional 403,010 shares in the last quarter. Norges Bank acquired a new stake in Silicon Laboratories during the fourth quarter valued at $34,622,000. Wellington Management Group LLP grew its stake in Silicon Laboratories by 28.3% in the third quarter. Wellington Management Group LLP now owns 888,382 shares of the semiconductor company’s stock valued at $102,670,000 after purchasing an additional 195,997 shares in the last quarter. Invesco Ltd. increased its position in Silicon Laboratories by 46.9% in the 4th quarter. Invesco Ltd. now owns 595,382 shares of the semiconductor company’s stock worth $73,958,000 after purchasing an additional 190,085 shares during the last quarter. Finally, Raymond James Financial Inc. purchased a new stake in shares of Silicon Laboratories during the 4th quarter worth about $14,252,000.

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.