Brokerages Set Silicon Laboratories Inc. (NASDAQ:SLAB) PT at $143.29

Silicon Laboratories Inc. (NASDAQ:SLAB) has received an average recommendation of “Moderate Buy” from the eight brokerages that are currently covering the firm, Marketbeat reports. Four equities research analysts have rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average 12 month price objective among analysts that have issued a report on the stock in the last year is $143.29.

A number of equities analysts recently commented on SLAB shares. Stifel Nicolaus lifted their price objective on Silicon Laboratories from $136.00 to $155.00 and gave the stock a “buy” rating in a research report on Tuesday, January 2nd. TD Cowen boosted their price target on shares of Silicon Laboratories from $140.00 to $155.00 and gave the company an “outperform” rating in a research report on Thursday, February 8th. Barclays raised their price objective on shares of Silicon Laboratories from $120.00 to $140.00 and gave the stock an “equal weight” rating in a research report on Thursday, February 8th. JPMorgan Chase & Co. boosted their target price on shares of Silicon Laboratories from $145.00 to $165.00 and gave the company an “overweight” rating in a report on Thursday, February 8th. Finally, StockNews.com downgraded shares of Silicon Laboratories from a “hold” rating to a “sell” rating in a report on Friday, December 29th.

Hedge Funds Weigh In On Silicon Laboratories

Several hedge funds have recently bought and sold shares of the company. HighTower Advisors LLC grew its holdings in shares of Silicon Laboratories by 17.4% in the first quarter. HighTower Advisors LLC now owns 1,421 shares of the semiconductor company’s stock valued at $214,000 after purchasing an additional 211 shares in the last quarter. PNC Financial Services Group Inc. raised its stake in shares of Silicon Laboratories by 12.8% in the first quarter. PNC Financial Services Group Inc. now owns 5,094 shares of the semiconductor company’s stock valued at $766,000 after acquiring an additional 580 shares in the last quarter. Natixis Advisors L.P. raised its stake in shares of Silicon Laboratories by 2.5% in the first quarter. Natixis Advisors L.P. now owns 12,997 shares of the semiconductor company’s stock valued at $1,952,000 after acquiring an additional 319 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its holdings in Silicon Laboratories by 5.1% in the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 13,999 shares of the semiconductor company’s stock valued at $2,103,000 after purchasing an additional 675 shares during the period. Finally, Great West Life Assurance Co. Can increased its holdings in Silicon Laboratories by 13.1% during the 1st quarter. Great West Life Assurance Co. Can now owns 23,361 shares of the semiconductor company’s stock worth $3,615,000 after purchasing an additional 2,701 shares during the period.

Silicon Laboratories Stock Performance

Shares of SLAB opened at $117.50 on Tuesday. The stock has a 50 day moving average price of $136.20 and a 200 day moving average price of $121.94. Silicon Laboratories has a one year low of $74.56 and a one year high of $171.47. The stock has a market capitalization of $3.75 billion, a price-to-earnings ratio of -103.98 and a beta of 1.27.

Silicon Laboratories (NASDAQ:SLAB) last posted its quarterly earnings results on Wednesday, February 7th. The semiconductor company reported ($1.46) earnings per share for the quarter, topping the consensus estimate of ($1.91) by $0.45. Silicon Laboratories had a negative net margin of 4.41% and a positive return on equity of 0.97%. The firm had revenue of $86.85 million for the quarter, compared to the consensus estimate of $85.32 million. On average, analysts predict that Silicon Laboratories will post -1.66 earnings per share for the current year.

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.