Silicon Laboratories (NASDAQ:SLAB) Upgraded by Benchmark to Buy Rating

Benchmark upgraded shares of Silicon Laboratories (NASDAQ:SLAB) from a hold rating to a buy rating in a report released on Wednesday morning, MarketBeat reports. Benchmark currently has $160.00 target price on the semiconductor company’s stock.

Several other equities analysts also recently commented on the company. Barclays boosted their price objective on Silicon Laboratories from $75.00 to $120.00 and gave the company an “equal weight” rating in a research report on Friday, January 17th. JPMorgan Chase & Co. lowered their price target on Silicon Laboratories from $150.00 to $135.00 and set an “overweight” rating on the stock in a report on Tuesday, November 5th. StockNews.com raised shares of Silicon Laboratories to a “sell” rating in a report on Friday, November 8th. Morgan Stanley lowered their target price on shares of Silicon Laboratories from $123.00 to $97.00 and set an “equal weight” rating on the stock in a report on Tuesday, November 5th. Finally, Stifel Nicolaus raised their target price on shares of Silicon Laboratories from $135.00 to $145.00 and gave the company a “buy” rating in a research note on Monday, January 6th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $136.20.

Silicon Laboratories Price Performance

Silicon Laboratories stock opened at $149.06 on Wednesday. Silicon Laboratories has a 12-month low of $94.00 and a 12-month high of $154.91. The firm has a 50 day moving average of $128.35 and a 200 day moving average of $116.74.

Silicon Laboratories (NASDAQ:SLAB) last announced its quarterly earnings data on Tuesday, February 4th. The semiconductor company reported ($0.11) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.11). Silicon Laboratories had a negative net margin of 46.93% and a negative return on equity of 12.60%. The firm had revenue of $166.25 million during the quarter, compared to analysts’ expectations of $166.09 million. During the same period in the prior year, the company posted ($1.19) earnings per share. The company’s revenue for the quarter was up 91.4% compared to the same quarter last year. Sell-side analysts predict that Silicon Laboratories will post -3.56 earnings per share for the current year.

Insider Transactions at Silicon Laboratories

In related news, Director William G. Bock sold 2,000 shares of Silicon Laboratories stock in a transaction dated Wednesday, January 22nd. The stock was sold at an average price of $140.77, for a total value of $281,540.00. Following the completion of the transaction, the director now owns 32,115 shares in the company, valued at approximately $4,520,828.55. This trade represents a 5.86 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 1.72% of the company’s stock.

Hedge Funds Weigh In On Silicon Laboratories

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Wellington Management Group LLP lifted its position in Silicon Laboratories by 28.3% in the third quarter. Wellington Management Group LLP now owns 888,382 shares of the semiconductor company’s stock worth $102,670,000 after buying an additional 195,997 shares during the last quarter. Point72 Asset Management L.P. purchased a new stake in shares of Silicon Laboratories in the third quarter valued at $7,408,000. Fisher Asset Management LLC lifted its holdings in shares of Silicon Laboratories by 114.4% in the 4th quarter. Fisher Asset Management LLC now owns 119,292 shares of the semiconductor company’s stock worth $14,818,000 after acquiring an additional 63,652 shares during the last quarter. FMR LLC boosted its stake in shares of Silicon Laboratories by 1.1% during the 3rd quarter. FMR LLC now owns 4,843,370 shares of the semiconductor company’s stock worth $559,748,000 after purchasing an additional 54,708 shares during the period. Finally, GW&K Investment Management LLC grew its holdings in Silicon Laboratories by 5.6% during the 4th quarter. GW&K Investment Management LLC now owns 682,045 shares of the semiconductor company’s stock valued at $84,723,000 after purchasing an additional 36,330 shares during the last quarter.

Silicon Laboratories Company Profile

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.