Silicon Laboratories Inc. (NASDAQ:SLAB) Given Consensus Recommendation of “Hold” by Brokerages

Silicon Laboratories Inc. (NASDAQ:SLAB) has been given a consensus rating of “Hold” by the eleven analysts that are covering the company, MarketBeat.com reports. Six analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The average 12-month price objective among analysts that have updated their coverage on the stock in the last year is $135.00.

Several analysts have weighed in on the stock. Barclays decreased their price objective on shares of Silicon Laboratories from $140.00 to $120.00 and set an “equal weight” rating on the stock in a research note on Thursday, April 25th. JPMorgan Chase & Co. decreased their price objective on shares of Silicon Laboratories from $165.00 to $150.00 and set an “overweight” rating on the stock in a research note on Thursday, April 25th. Benchmark reaffirmed a “hold” rating on shares of Silicon Laboratories in a research note on Thursday, April 25th. Needham & Company LLC raised shares of Silicon Laboratories from a “hold” rating to a “buy” rating and set a $150.00 price objective on the stock in a research note on Thursday, April 25th. Finally, Citigroup decreased their price target on shares of Silicon Laboratories from $137.00 to $120.00 and set a “neutral” rating on the stock in a research note on Thursday, April 25th.

Silicon Laboratories Stock Up 0.5 %

NASDAQ SLAB opened at $111.42 on Friday. The stock has a market cap of $3.56 billion, a P/E ratio of -33.66 and a beta of 1.20. The company’s 50-day simple moving average is $121.17 and its 200 day simple moving average is $127.84. Silicon Laboratories has a twelve month low of $74.56 and a twelve month high of $166.94.

Silicon Laboratories (NASDAQ:SLAB) last issued its quarterly earnings data on Wednesday, April 24th. The semiconductor company reported ($1.34) earnings per share for the quarter, missing the consensus estimate of ($1.29) by ($0.05). The firm had revenue of $106.38 million for the quarter, compared to the consensus estimate of $104.45 million. Silicon Laboratories had a negative return on equity of 4.45% and a negative net margin of 16.36%. Research analysts anticipate that Silicon Laboratories will post -3.21 earnings per share for the current year.

Insider Activity

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

Hedge Funds Weigh In On Silicon Laboratories

Several large investors have recently bought and sold shares of the business. Vanguard Group Inc. raised its holdings in Silicon Laboratories by 0.7% in the first quarter. Vanguard Group Inc. now owns 3,489,160 shares of the semiconductor company’s stock worth $501,462,000 after purchasing an additional 24,997 shares during the period. Capital Research Global Investors raised its holdings in Silicon Laboratories by 29.9% in the first quarter. Capital Research Global Investors now owns 1,217,939 shares of the semiconductor company’s stock worth $175,042,000 after purchasing an additional 280,000 shares during the period. Dimensional Fund Advisors LP raised its holdings in Silicon Laboratories by 4.7% in the fourth quarter. Dimensional Fund Advisors LP now owns 641,710 shares of the semiconductor company’s stock worth $84,884,000 after purchasing an additional 28,759 shares during the period. Federated Hermes Inc. raised its holdings in Silicon Laboratories by 6.9% in the fourth quarter. Federated Hermes Inc. now owns 516,484 shares of the semiconductor company’s stock worth $68,315,000 after purchasing an additional 33,357 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its holdings in Silicon Laboratories by 8.1% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 451,082 shares of the semiconductor company’s stock worth $59,665,000 after purchasing an additional 33,979 shares during the period.

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.