Silicon Laboratories (NASDAQ:SLAB) Stock Rating Reaffirmed by Needham & Company LLC

Needham & Company LLC reaffirmed their buy rating on shares of Silicon Laboratories (NASDAQ:SLAB) in a research report released on Thursday morning, Benzinga reports. Needham & Company LLC currently has a $150.00 target price on the semiconductor company’s stock.

SLAB has been the topic of several other research reports. StockNews.com raised Silicon Laboratories to a sell rating in a research report on Tuesday, July 23rd. Benchmark reaffirmed a hold rating on shares of Silicon Laboratories in a report on Thursday, April 25th. TD Cowen reduced their target price on shares of Silicon Laboratories from $155.00 to $145.00 and set a buy rating for the company in a research note on Thursday, April 25th. Summit Insights lowered shares of Silicon Laboratories from a buy rating to a hold rating in a research report on Wednesday, April 24th. Finally, Barclays reduced their price objective on shares of Silicon Laboratories from $140.00 to $120.00 and set an equal weight rating for the company in a research report on Thursday, April 25th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of Hold and a consensus price target of $135.00.

Silicon Laboratories Price Performance

Shares of Silicon Laboratories stock opened at $120.32 on Thursday. The stock’s 50-day moving average is $118.50 and its 200 day moving average is $126.53. Silicon Laboratories has a one year low of $74.56 and a one year high of $154.91. The firm has a market cap of $3.89 billion, a price-to-earnings ratio of -36.35 and a beta of 1.20.

Silicon Laboratories (NASDAQ:SLAB) last announced its quarterly earnings results on Wednesday, July 24th. The semiconductor company reported ($0.56) earnings per share for the quarter, beating the consensus estimate of ($0.64) by $0.08. The business had revenue of $145.40 million for the quarter, compared to analysts’ expectations of $140.18 million. Silicon Laboratories had a negative net margin of 36.53% and a negative return on equity of 9.13%. The firm’s revenue for the quarter was down 40.6% compared to the same quarter last year. During the same quarter last year, the firm earned $0.59 EPS. On average, sell-side analysts expect that Silicon Laboratories will post -3.21 EPS for the current fiscal year.

Insider Buying and Selling at Silicon Laboratories

In other news, CEO Robert Matthew Johnson sold 7,230 shares of the firm’s stock in a transaction that occurred on Monday, June 3rd. The shares were sold at an average price of $123.80, for a total transaction of $895,074.00. Following the completion of the sale, the chief executive officer now owns 47,910 shares in the company, valued at approximately $5,931,258. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Corporate insiders own 1.72% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in SLAB. Bank of New York Mellon Corp lifted its holdings in Silicon Laboratories by 10.2% during the second quarter. Bank of New York Mellon Corp now owns 358,994 shares of the semiconductor company’s stock valued at $39,715,000 after purchasing an additional 33,210 shares during the last quarter. Nisa Investment Advisors LLC lifted its stake in shares of Silicon Laboratories by 16.5% during the 2nd quarter. Nisa Investment Advisors LLC now owns 4,425 shares of the semiconductor company’s stock valued at $490,000 after buying an additional 626 shares in the last quarter. Leeward Investments LLC MA boosted its holdings in Silicon Laboratories by 5.6% in the 2nd quarter. Leeward Investments LLC MA now owns 89,467 shares of the semiconductor company’s stock worth $9,898,000 after buying an additional 4,762 shares during the period. Envestnet Portfolio Solutions Inc. grew its stake in Silicon Laboratories by 37.0% in the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 8,187 shares of the semiconductor company’s stock valued at $906,000 after buying an additional 2,210 shares in the last quarter. Finally, Cooper Financial Group raised its holdings in Silicon Laboratories by 50.2% during the 2nd quarter. Cooper Financial Group now owns 5,046 shares of the semiconductor company’s stock valued at $558,000 after acquiring an additional 1,687 shares during the period.

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.