Silicon Laboratories (NASDAQ:SLAB) Downgraded by StockNews.com to Sell

StockNews.com cut shares of Silicon Laboratories (NASDAQ:SLAB) from a hold rating to a sell rating in a research note published on Thursday.

Several other equities analysts have also weighed in on SLAB. Barclays raised their target price on Silicon Laboratories from $75.00 to $120.00 and gave the company an “equal weight” rating in a report on Friday, January 17th. Needham & Company LLC reissued a “buy” rating and set a $150.00 target price on shares of Silicon Laboratories in a research report on Wednesday, March 12th. KeyCorp upped their price target on shares of Silicon Laboratories from $115.00 to $160.00 and gave the company an “overweight” rating in a report on Wednesday, January 22nd. Benchmark reissued a “buy” rating and set a $160.00 price objective on shares of Silicon Laboratories in a research report on Wednesday, March 12th. Finally, Susquehanna started coverage on Silicon Laboratories in a research report on Tuesday, December 17th. They issued a “neutral” rating and a $130.00 price objective for the company. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $136.20.

Silicon Laboratories Price Performance

Shares of NASDAQ SLAB opened at $113.03 on Thursday. Silicon Laboratories has a one year low of $94.00 and a one year high of $160.00. The business’s 50-day moving average price is $136.65 and its two-hundred day moving average price is $123.65. The company has a market capitalization of $3.67 billion, a P/E ratio of -19.03 and a beta of 1.15.

Silicon Laboratories (NASDAQ:SLAB) last issued its quarterly earnings data on Tuesday, February 4th. The semiconductor company reported ($0.11) earnings per share for the quarter, meeting the consensus estimate of ($0.11). The firm had revenue of $166.25 million for the quarter, compared to analyst estimates of $166.09 million. Silicon Laboratories had a negative net margin of 32.69% and a negative return on equity of 10.46%. The company’s revenue for the quarter was up 91.4% on a year-over-year basis. During the same quarter last year, the firm earned ($1.19) earnings per share. On average, equities analysts anticipate that Silicon Laboratories will post -0.97 EPS for the current year.

Insider Transactions at Silicon Laboratories

In other Silicon Laboratories news, Director William G. Bock sold 1,000 shares of the company’s stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $149.43, for a total transaction of $149,430.00. Following the sale, the director now directly owns 31,115 shares of the company’s stock, valued at approximately $4,649,514.45. This represents a 3.11 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Navdeep S. Sooch sold 2,360 shares of the firm’s stock in a transaction that occurred on Wednesday, February 5th. The stock was sold at an average price of $149.00, for a total transaction of $351,640.00. Following the sale, the director now directly owns 400,567 shares of the company’s stock, valued at approximately $59,684,483. The trade was a 0.59 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 5,360 shares of company stock valued at $782,610. 1.60% of the stock is owned by insiders.

Hedge Funds Weigh In On Silicon Laboratories

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Jones Financial Companies Lllp grew its stake in shares of Silicon Laboratories by 44.5% during the fourth quarter. Jones Financial Companies Lllp now owns 224 shares of the semiconductor company’s stock valued at $28,000 after purchasing an additional 69 shares during the last quarter. Advisors Asset Management Inc. increased its stake in shares of Silicon Laboratories by 159.4% in the 3rd quarter. Advisors Asset Management Inc. now owns 275 shares of the semiconductor company’s stock valued at $32,000 after buying an additional 169 shares during the period. Headlands Technologies LLC bought a new stake in shares of Silicon Laboratories during the fourth quarter worth $70,000. Venturi Wealth Management LLC raised its position in shares of Silicon Laboratories by 207.0% during the fourth quarter. Venturi Wealth Management LLC now owns 786 shares of the semiconductor company’s stock worth $98,000 after acquiring an additional 530 shares during the last quarter. Finally, Asset Management One Co. Ltd. acquired a new position in shares of Silicon Laboratories during the fourth quarter valued at $117,000.

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.