Silicon Laboratories (NASDAQ:SLAB) Lowered to Sell Rating by StockNews.com

StockNews.com cut shares of Silicon Laboratories (NASDAQ:SLAB) from a hold rating to a sell rating in a research note published on Friday morning.

SLAB has been the subject of several other reports. Barclays upped their price objective on Silicon Laboratories from $75.00 to $120.00 and gave the stock an “equal weight” rating in a research report on Friday, January 17th. Stifel Nicolaus boosted their target price on Silicon Laboratories from $135.00 to $145.00 and gave the company a “buy” rating in a report on Monday, January 6th. JPMorgan Chase & Co. reduced their target price on Silicon Laboratories from $150.00 to $135.00 and set an “overweight” rating for the company in a report on Tuesday, November 5th. KeyCorp boosted their target price on Silicon Laboratories from $115.00 to $160.00 and gave the company an “overweight” rating in a report on Wednesday, January 22nd. Finally, Susquehanna assumed coverage on Silicon Laboratories in a report on Tuesday, December 17th. They issued a “neutral” rating and a $130.00 target price for the company. One analyst has rated the stock with a sell rating, five have given a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, Silicon Laboratories has a consensus rating of “Hold” and an average target price of $136.20.

Silicon Laboratories Stock Down 0.6 %

NASDAQ:SLAB opened at $149.54 on Friday. The stock has a 50-day simple moving average of $133.35 and a 200-day simple moving average of $118.22. Silicon Laboratories has a 1 year low of $94.00 and a 1 year high of $154.91.

Silicon Laboratories (NASDAQ:SLAB) last released its quarterly earnings data on Tuesday, February 4th. The semiconductor company reported ($0.11) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.11). The business had revenue of $166.25 million during the quarter, compared to analysts’ expectations of $166.09 million. Silicon Laboratories had a negative return on equity of 10.46% and a negative net margin of 32.69%. The business’s quarterly revenue was up 91.4% compared to the same quarter last year. During the same period in the prior year, the firm posted ($1.19) EPS. On average, equities analysts expect that Silicon Laboratories will post -0.47 earnings per share for the current year.

Insider Buying and Selling at Silicon Laboratories

In other Silicon Laboratories news, Director William G. Bock sold 2,000 shares of the business’s stock in a transaction that occurred on Wednesday, January 22nd. The stock was sold at an average price of $140.77, for a total transaction of $281,540.00. Following the transaction, the director now owns 32,115 shares in the company, valued at approximately $4,520,828.55. The trade was a 5.86 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Navdeep S. Sooch sold 2,360 shares of the business’s stock in a transaction that occurred on Wednesday, February 5th. The stock was sold at an average price of $149.00, for a total value of $351,640.00. Following the transaction, the director now owns 400,567 shares in the company, valued at $59,684,483. The trade was a 0.59 % decrease in their position. The disclosure for this sale can be found here. 1.72% of the stock is owned by company insiders.

Hedge Funds Weigh In On Silicon Laboratories

Several institutional investors and hedge funds have recently added to or reduced their stakes in SLAB. Jones Financial Companies Lllp increased its position in Silicon Laboratories by 44.5% during the 4th quarter. Jones Financial Companies Lllp now owns 224 shares of the semiconductor company’s stock worth $28,000 after purchasing an additional 69 shares during the period. Advisors Asset Management Inc. increased its position in Silicon Laboratories by 159.4% during the 3rd quarter. Advisors Asset Management Inc. now owns 275 shares of the semiconductor company’s stock worth $32,000 after purchasing an additional 169 shares during the period. Headlands Technologies LLC acquired a new position in Silicon Laboratories during the 4th quarter worth approximately $70,000. International Assets Investment Management LLC increased its position in Silicon Laboratories by 11,457.1% during the 3rd quarter. International Assets Investment Management LLC now owns 809 shares of the semiconductor company’s stock worth $93,000 after purchasing an additional 802 shares during the period. Finally, Venturi Wealth Management LLC grew its holdings in shares of Silicon Laboratories by 207.0% in the 4th quarter. Venturi Wealth Management LLC now owns 786 shares of the semiconductor company’s stock worth $98,000 after acquiring an additional 530 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.