Silicon Laboratories’ (SLAB) Buy Rating Reiterated at Needham & Company LLC

Silicon Laboratories (NASDAQ:SLAB)‘s stock had its “buy” rating reissued by stock analysts at Needham & Company LLC in a research note issued to investors on Thursday, Benzinga reports. They presently have a $150.00 price target on the semiconductor company’s stock. Needham & Company LLC’s target price would indicate a potential upside of 24.67% from the stock’s current price.

A number of other brokerages have also recently issued reports on SLAB. Benchmark reissued a “hold” rating on shares of Silicon Laboratories in a research report on Thursday, April 25th. StockNews.com raised Silicon Laboratories to a “sell” rating in a research note on Tuesday. Citigroup lowered their price objective on Silicon Laboratories from $137.00 to $120.00 and set a “neutral” rating for the company in a research note on Thursday, April 25th. JPMorgan Chase & Co. lowered their price objective on Silicon Laboratories from $165.00 to $150.00 and set an “overweight” rating for the company in a research note on Thursday, April 25th. Finally, Barclays reduced their target price on Silicon Laboratories from $140.00 to $120.00 and set an “equal weight” rating on the stock in a report on Thursday, April 25th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $135.00.

Silicon Laboratories Trading Up 3.2 %

NASDAQ SLAB opened at $120.32 on Thursday. Silicon Laboratories has a 12-month low of $74.56 and a 12-month high of $154.91. The firm’s 50 day moving average is $118.50 and its 200-day moving average is $126.50.

Silicon Laboratories (NASDAQ:SLAB) last released its quarterly earnings data on Wednesday, July 24th. The semiconductor company reported ($0.56) EPS for the quarter, topping analysts’ consensus estimates of ($0.64) by $0.08. Silicon Laboratories had a negative net margin of 36.53% and a negative return on equity of 9.13%. The firm had revenue of $145.40 million during the quarter, compared to analysts’ expectations of $140.18 million. During the same period in the previous year, the business posted $0.59 earnings per share. The company’s revenue for the quarter was down 40.6% compared to the same quarter last year. As a group, research analysts predict that Silicon Laboratories will post -3.21 EPS for the current fiscal year.

Insider Activity at Silicon Laboratories

In related news, CEO Robert Matthew Johnson sold 7,230 shares of the stock in a transaction on Monday, June 3rd. The stock was sold at an average price of $123.80, for a total value of $895,074.00. Following the completion of the sale, the chief executive officer now directly owns 47,910 shares of the company’s stock, valued at approximately $5,931,258. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 1.72% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Silicon Laboratories

Several large investors have recently made changes to their positions in SLAB. Raymond James & Associates increased its position in shares of Silicon Laboratories by 0.7% during the 4th quarter. Raymond James & Associates now owns 79,620 shares of the semiconductor company’s stock valued at $10,531,000 after purchasing an additional 574 shares during the last quarter. Pacer Advisors Inc. increased its position in shares of Silicon Laboratories by 81.1% during the 4th quarter. Pacer Advisors Inc. now owns 4,769 shares of the semiconductor company’s stock valued at $631,000 after purchasing an additional 2,135 shares during the last quarter. L. Roy Papp & Associates LLP increased its position in shares of Silicon Laboratories by 1.2% during the 4th quarter. L. Roy Papp & Associates LLP now owns 9,920 shares of the semiconductor company’s stock valued at $1,312,000 after purchasing an additional 120 shares during the last quarter. International Assets Investment Management LLC increased its position in shares of Silicon Laboratories by 429.1% during the 4th quarter. International Assets Investment Management LLC now owns 926 shares of the semiconductor company’s stock valued at $122,000 after purchasing an additional 751 shares during the last quarter. Finally, Schwartz Investment Counsel Inc. increased its position in shares of Silicon Laboratories by 69.6% during the 4th quarter. Schwartz Investment Counsel Inc. now owns 195,000 shares of the semiconductor company’s stock valued at $25,793,000 after purchasing an additional 80,000 shares during the last quarter.

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.