Silicon Laboratories, Inc. (NASDAQ:SLAB) Given Consensus Recommendation of “Reduce” by Brokerages

Shares of Silicon Laboratories, Inc. (NASDAQ:SLAB) have been given an average recommendation of “Reduce” by the nine brokerages that are covering the firm, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation and eight have issued a hold recommendation on the company. The average 1 year price objective among analysts that have issued ratings on the stock in the last year is $172.00.

Separately, Weiss Ratings reissued a “sell (d-)” rating on shares of Silicon Laboratories in a research note on Wednesday, June 24th.

Insider Buying and Selling

In other Silicon Laboratories news, CEO Robert Matthew Johnson sold 8,024 shares of the stock in a transaction on Monday, May 18th. The shares were sold at an average price of $216.83, for a total value of $1,739,843.92. Following the sale, the chief executive officer directly owned 80,519 shares in the company, valued at approximately $17,458,934.77. This trade represents a 9.06% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 1.60% of the company’s stock.

Hedge Funds Weigh In On Silicon Laboratories

Several institutional investors and hedge funds have recently made changes to their positions in the company. AQR Capital Management LLC lifted its holdings in Silicon Laboratories by 43.7% during the first quarter. AQR Capital Management LLC now owns 17,892 shares of the semiconductor company’s stock worth $2,001,000 after acquiring an additional 5,439 shares in the last quarter. Millennium Management LLC grew its stake in Silicon Laboratories by 2,804.1% in the first quarter. Millennium Management LLC now owns 99,842 shares of the semiconductor company’s stock valued at $11,239,000 after acquiring an additional 96,404 shares during the period. Jones Financial Companies Lllp increased its holdings in shares of Silicon Laboratories by 121.4% in the first quarter. Jones Financial Companies Lllp now owns 496 shares of the semiconductor company’s stock worth $56,000 after acquiring an additional 272 shares in the last quarter. United Services Automobile Association bought a new stake in shares of Silicon Laboratories in the first quarter worth about $235,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in shares of Silicon Laboratories by 1.8% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 97,156 shares of the semiconductor company’s stock worth $10,937,000 after purchasing an additional 1,679 shares during the period.

Silicon Laboratories Stock Performance

NASDAQ:SLAB opened at $217.47 on Monday. Silicon Laboratories has a 1-year low of $115.50 and a 1-year high of $220.90. The business’s 50-day moving average price is $218.22 and its two-hundred day moving average price is $199.94. The firm has a market capitalization of $7.17 billion, a price-to-earnings ratio of -142.14 and a beta of 1.36.

Silicon Laboratories (NASDAQ:SLAB) last posted its earnings results on Tuesday, May 5th. The semiconductor company reported $0.53 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.49 by $0.04. The company had revenue of $213.50 million during the quarter, compared to analyst estimates of $214.02 million. Silicon Laboratories had a negative return on equity of 2.18% and a negative net margin of 6.13%.The company’s revenue for the quarter was up 20.1% compared to the same quarter last year. During the same period in the previous year, the company earned ($0.08) EPS. Sell-side analysts predict that Silicon Laboratories will post 0.74 earnings per share for the current year.

Silicon Laboratories Company Profile

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.