Silicon Laboratories (NASDAQ:SLAB) Sets New 12-Month High – Should You Buy?

Shares of Silicon Laboratories, Inc. (NASDAQ:SLAB) hit a new 52-week high on Wednesday . The stock traded as high as $209.01 and last traded at $208.3250, with a volume of 2039 shares traded. The stock had previously closed at $208.15.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the company. Benchmark downgraded shares of Silicon Laboratories from a “buy” rating to a “hold” rating in a research note on Wednesday, February 4th. Citigroup raised their target price on Silicon Laboratories from $135.00 to $231.00 and gave the stock a “neutral” rating in a research note on Friday, February 6th. Needham & Company LLC cut Silicon Laboratories from a “buy” rating to a “hold” rating in a research report on Wednesday, February 4th. Royal Bank Of Canada boosted their price target on Silicon Laboratories from $160.00 to $205.00 and gave the company a “sector perform” rating in a research note on Thursday, February 5th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Silicon Laboratories in a research note on Friday, March 27th. One research analyst has rated the stock with a Buy rating, eight have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $167.78.

Silicon Laboratories Stock Up 0.7%

The company has a market capitalization of $6.90 billion, a PE ratio of -105.09 and a beta of 1.45. The firm has a 50-day moving average of $195.25 and a two-hundred day moving average of $155.35.

Silicon Laboratories (NASDAQ:SLAB) last released its quarterly earnings data on Wednesday, February 4th. The semiconductor company reported $0.56 EPS for the quarter, topping the consensus estimate of $0.54 by $0.02. The business had revenue of $208.21 million for the quarter, compared to analyst estimates of $207.63 million. Silicon Laboratories had a negative return on equity of 4.07% and a negative net margin of 8.27%.The business’s quarterly revenue was up 25.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.11) EPS. Equities analysts predict that Silicon Laboratories, Inc. will post -0.97 EPS for the current fiscal year.

Insider Transactions at Silicon Laboratories

In other Silicon Laboratories news, Director Nina Richardson sold 1,355 shares of Silicon Laboratories stock in a transaction on Tuesday, January 13th. The shares were sold at an average price of $149.00, for a total value of $201,895.00. Following the completion of the transaction, the director owned 8,543 shares of the company’s stock, valued at approximately $1,272,907. The trade was a 13.69% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 1.60% of the company’s stock.

Institutional Investors Weigh In On Silicon Laboratories

A number of institutional investors have recently modified their holdings of SLAB. Kestra Advisory Services LLC purchased a new position in shares of Silicon Laboratories during the 4th quarter valued at approximately $32,000. First Horizon Corp purchased a new stake in Silicon Laboratories in the 3rd quarter worth $35,000. EverSource Wealth Advisors LLC increased its holdings in Silicon Laboratories by 45.7% in the 3rd quarter. EverSource Wealth Advisors LLC now owns 274 shares of the semiconductor company’s stock worth $36,000 after acquiring an additional 86 shares in the last quarter. Covestor Ltd raised its position in Silicon Laboratories by 260.3% during the fourth quarter. Covestor Ltd now owns 281 shares of the semiconductor company’s stock worth $37,000 after acquiring an additional 203 shares during the period. Finally, UMB Bank n.a. lifted its holdings in Silicon Laboratories by 43.9% during the third quarter. UMB Bank n.a. now owns 282 shares of the semiconductor company’s stock valued at $37,000 after purchasing an additional 86 shares in the last quarter.

About Silicon Laboratories

Silicon Laboratories (NASDAQ:SLAB) is a global semiconductor company that develops high-performance analog and mixed-signal integrated circuits, wireless system-on-chips (SoCs), microcontrollers, and radio frequency (RF) solutions. Its product portfolio is tailored to support the Internet of Things (IoT), infrastructure, industrial automation, consumer electronics, automotive, and energy markets. By combining silicon, software, and tools, Silicon Labs aims to accelerate development cycles and deliver low-power, highly integrated solutions that address demanding application requirements.

Founded in 1996 and headquartered in Austin, Texas, Silicon Labs has grown into a multinational organization with engineering and sales operations across North America, Europe, and Asia.