Benchmark Reaffirms “Buy” Rating for Silicon Laboratories (NASDAQ:SLAB)

Silicon Laboratories (NASDAQ:SLAB)‘s stock had its “buy” rating reissued by analysts at Benchmark in a research note issued to investors on Tuesday,Benzinga reports. They presently have a $160.00 price objective on the semiconductor company’s stock. Benchmark’s target price would indicate a potential upside of 29.65% from the stock’s previous close.

A number of other analysts have also issued reports on the company. Susquehanna boosted their price target on Silicon Laboratories from $100.00 to $110.00 and gave the company a “neutral” rating in a report on Wednesday, May 14th. Wall Street Zen raised Silicon Laboratories from a “sell” rating to a “hold” rating in a research report on Wednesday, May 14th. Stifel Nicolaus cut their price target on Silicon Laboratories from $145.00 to $120.00 and set a “buy” rating on the stock in a research note on Thursday, April 17th. Needham & Company LLC reissued a “buy” rating and issued a $150.00 price target on shares of Silicon Laboratories in a research report on Wednesday, May 14th. Finally, Barclays reduced their target price on shares of Silicon Laboratories from $120.00 to $80.00 and set an “equal weight” rating for the company in a report on Tuesday, April 22nd. Four analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Silicon Laboratories has an average rating of “Moderate Buy” and a consensus price target of $126.50.

Silicon Laboratories Stock Down 1.6%

NASDAQ SLAB opened at $123.41 on Tuesday. The stock’s 50-day moving average price is $108.78 and its 200-day moving average price is $121.87. The company has a market capitalization of $4.02 billion, a P/E ratio of -20.78 and a beta of 1.36. Silicon Laboratories has a 52 week low of $82.82 and a 52 week high of $160.00.

Silicon Laboratories (NASDAQ:SLAB) last announced its earnings results on Tuesday, May 13th. The semiconductor company reported ($0.08) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.09) by $0.01. The firm had revenue of $177.71 million for the quarter, compared to analysts’ expectations of $177.48 million. Silicon Laboratories had a negative net margin of 32.69% and a negative return on equity of 10.46%. The business’s revenue was up 67.0% compared to the same quarter last year. During the same period in the prior year, the company earned ($0.92) EPS. Research analysts anticipate that Silicon Laboratories will post -0.97 EPS for the current year.

Insider Buying and Selling at Silicon Laboratories

In related news, CEO Robert Matthew Johnson sold 5,879 shares of the business’s stock in a transaction on Friday, May 16th. The stock was sold at an average price of $131.20, for a total value of $771,324.80. Following the sale, the chief executive officer now owns 73,688 shares in the company, valued at approximately $9,667,865.60. The trade was a 7.39% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Christy Wyatt sold 546 shares of the firm’s stock in a transaction dated Tuesday, May 6th. The shares were sold at an average price of $104.45, for a total value of $57,029.70. Following the transaction, the director now owns 8,492 shares of the company’s stock, valued at $886,989.40. This trade represents a 6.04% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 11,626 shares of company stock worth $1,509,319 over the last three months. Insiders own 1.60% of the company’s stock.

Institutional Trading of Silicon Laboratories

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Quarry LP purchased a new stake in shares of Silicon Laboratories during the first quarter worth $25,000. Jones Financial Companies Lllp grew its stake in Silicon Laboratories by 44.5% during the 4th quarter. Jones Financial Companies Lllp now owns 224 shares of the semiconductor company’s stock worth $28,000 after purchasing an additional 69 shares in the last quarter. Skandinaviska Enskilda Banken AB publ purchased a new stake in Silicon Laboratories during the 1st quarter worth about $34,000. UMB Bank n.a. raised its position in Silicon Laboratories by 111.3% in the 1st quarter. UMB Bank n.a. now owns 336 shares of the semiconductor company’s stock valued at $38,000 after purchasing an additional 177 shares in the last quarter. Finally, Parallel Advisors LLC raised its position in Silicon Laboratories by 143.7% in the 1st quarter. Parallel Advisors LLC now owns 463 shares of the semiconductor company’s stock valued at $52,000 after purchasing an additional 273 shares in the last quarter.

Silicon Laboratories Company Profile

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.