Silicon Laboratories (NASDAQ:SLAB) Hits New 12-Month High – What’s Next?

Silicon Laboratories Inc. (NASDAQ:SLAB) hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as $155.15 and last traded at $154.23, with a volume of 50027 shares changing hands. The stock had previously closed at $153.83.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on SLAB. Stifel Nicolaus lifted their price objective on shares of Silicon Laboratories from $135.00 to $145.00 and gave the company a “buy” rating in a report on Monday, January 6th. Susquehanna began coverage on shares of Silicon Laboratories in a report on Tuesday, December 17th. They set a “neutral” rating and a $130.00 price target on the stock. Morgan Stanley cut their price target 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. Barclays boosted their price target on shares of Silicon Laboratories from $75.00 to $120.00 and gave the stock an “equal weight” rating in a report on Friday, January 17th. Finally, KeyCorp boosted their price target on shares of Silicon Laboratories from $115.00 to $160.00 and gave the stock an “overweight” rating in a report on Wednesday, January 22nd. One research 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. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $136.20.

Silicon Laboratories Price Performance

The stock has a market capitalization of $5.04 billion, a PE ratio of -26.15 and a beta of 1.16. The stock’s 50 day simple moving average is $136.14 and its two-hundred day simple moving average is $119.75.

Silicon Laboratories (NASDAQ:SLAB) last released its earnings results on Tuesday, February 4th. The semiconductor company reported ($0.11) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.11). The firm had revenue of $166.25 million for the quarter, compared to analysts’ expectations 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 quarterly revenue was up 91.4% on a year-over-year basis. During the same period in the previous year, the company earned ($1.19) earnings per share. As a group, equities research analysts predict that Silicon Laboratories Inc. will post -0.97 earnings per share for the current fiscal year.

Insider Buying and Selling at Silicon Laboratories

In other news, Director Navdeep S. Sooch sold 2,360 shares of the business’s stock in a transaction that occurred on Wednesday, February 5th. The shares were sold at an average price of $149.00, for a total value of $351,640.00. Following the sale, the director now owns 400,567 shares of the company’s stock, valued at $59,684,483. The trade was a 0.59 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director William G. Bock sold 1,000 shares of the business’s stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $149.43, for a total transaction of $149,430.00. Following the completion of the sale, the director now directly owns 31,115 shares in the company, valued at approximately $4,649,514.45. This trade represents a 3.11 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 5,360 shares of company stock worth $782,610 over the last three months. 1.72% of the stock is currently owned by insiders.

Institutional Trading of Silicon Laboratories

Several hedge funds and other institutional investors have recently modified their holdings of the business. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in shares of Silicon Laboratories by 18.0% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 95,477 shares of the semiconductor company’s stock valued at $11,860,000 after purchasing an additional 14,552 shares during the period. Squarepoint Ops LLC increased its holdings in Silicon Laboratories by 735.0% during the 4th quarter. Squarepoint Ops LLC now owns 54,935 shares of the semiconductor company’s stock worth $6,824,000 after acquiring an additional 48,356 shares during the period. Summit Partners Public Asset Management LLC bought a new stake in Silicon Laboratories during the 4th quarter worth approximately $2,857,000. Silvercrest Asset Management Group LLC increased its holdings in Silicon Laboratories by 45.7% during the 4th quarter. Silvercrest Asset Management Group LLC now owns 232,208 shares of the semiconductor company’s stock worth $28,845,000 after acquiring an additional 72,783 shares during the period. Finally, ProShare Advisors LLC increased its holdings in Silicon Laboratories by 26.2% during the 4th quarter. ProShare Advisors LLC now owns 14,958 shares of the semiconductor company’s stock worth $1,858,000 after acquiring an additional 3,103 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.