Silicon Laboratories (NASDAQ:SLAB) Price Target Raised to $160.00 at KeyCorp

Silicon Laboratories (NASDAQ:SLAB) had its price target increased by KeyCorp from $115.00 to $160.00 in a report published on Wednesday,Benzinga reports. The firm currently has an overweight rating on the semiconductor company’s stock.

A number of other equities analysts have also issued reports on the stock. JPMorgan Chase & Co. lowered their target price on shares of Silicon Laboratories from $150.00 to $135.00 and set an “overweight” rating on the stock in a research report on Tuesday, November 5th. Benchmark restated a “hold” rating on shares of Silicon Laboratories in a research note on Tuesday, November 5th. Barclays increased their target price on shares of Silicon Laboratories from $75.00 to $120.00 and gave the stock an “equal weight” rating in a research note on Friday, January 17th. StockNews.com upgraded Silicon Laboratories to a “sell” rating in a research report on Friday, November 8th. Finally, Morgan Stanley decreased their price objective on Silicon Laboratories from $123.00 to $97.00 and set an “equal weight” rating for the company in a research report on Tuesday, November 5th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $133.56.

Silicon Laboratories Trading Up 2.8 %

Shares of Silicon Laboratories stock opened at $139.99 on Wednesday. The company has a fifty day simple moving average of $121.89 and a 200-day simple moving average of $115.43. Silicon Laboratories has a 12-month low of $94.00 and a 12-month high of $154.91. The stock has a market cap of $4.54 billion, a price-to-earnings ratio of -18.92 and a beta of 1.17.

Silicon Laboratories (NASDAQ:SLAB) last issued its quarterly earnings data on Monday, November 4th. The semiconductor company reported ($0.13) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.20) by $0.07. Silicon Laboratories had a negative return on equity of 12.60% and a negative net margin of 46.93%. The company had revenue of $166.00 million for the quarter, compared to analyst estimates of $165.50 million. During the same quarter last year, the company posted $0.48 earnings per share. The business’s quarterly revenue was down 18.5% compared to the same quarter last year. On average, analysts forecast that Silicon Laboratories will post -3.56 earnings per share for the current fiscal year.

Insider Activity

In related news, Director William G. Bock sold 2,000 shares of the business’s stock in a transaction dated Wednesday, January 22nd. The shares were sold at an average price of $140.77, for a total transaction of $281,540.00. Following the sale, the director now owns 32,115 shares of the company’s stock, valued at approximately $4,520,828.55. The trade was a 5.86 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders own 1.72% of the company’s stock.

Institutional Investors Weigh In On Silicon Laboratories

Institutional investors have recently modified their holdings of the company. Envestnet Asset Management Inc. raised its holdings in Silicon Laboratories by 15.6% during the second quarter. Envestnet Asset Management Inc. now owns 110,375 shares of the semiconductor company’s stock worth $12,211,000 after purchasing an additional 14,877 shares during the last quarter. Dimensional Fund Advisors LP grew its stake in Silicon Laboratories by 2.0% in the 2nd quarter. Dimensional Fund Advisors LP now owns 639,065 shares of the semiconductor company’s stock valued at $70,699,000 after acquiring an additional 12,680 shares during the last quarter. Vanguard Personalized Indexing Management LLC increased its holdings in Silicon Laboratories by 39.0% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 3,222 shares of the semiconductor company’s stock valued at $356,000 after acquiring an additional 904 shares in the last quarter. Hsbc Holdings PLC raised its position in Silicon Laboratories by 470.5% during the second quarter. Hsbc Holdings PLC now owns 28,267 shares of the semiconductor company’s stock worth $3,109,000 after acquiring an additional 23,312 shares during the last quarter. Finally, XTX Topco Ltd purchased a new stake in shares of Silicon Laboratories in the second quarter valued at about $212,000.

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.