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

Silicon Laboratories (NASDAQ:SLAB) was downgraded by research analysts at StockNews.com from a “hold” rating to a “sell” rating in a report released on Thursday.

Several other equities analysts have also recently weighed in on SLAB. Susquehanna began coverage on shares of Silicon Laboratories in a research note on Tuesday, December 17th. They set a “neutral” rating and a $130.00 target price for the company. Barclays boosted their price objective on Silicon Laboratories from $75.00 to $120.00 and gave the stock an “equal weight” rating in a research note on Friday, January 17th. Benchmark reaffirmed a “buy” rating and issued a $160.00 price objective on shares of Silicon Laboratories in a research note on Wednesday, March 12th. Needham & Company LLC reissued a “buy” rating and set a $150.00 target price on shares of Silicon Laboratories in a research report on Wednesday, March 12th. Finally, Stifel Nicolaus raised their price target on Silicon Laboratories from $135.00 to $145.00 and gave the stock a “buy” rating in a research report on Monday, January 6th. One analyst has rated the stock with a sell rating, five have issued a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, Silicon Laboratories presently has a consensus rating of “Hold” and an average price target of $136.20.

Silicon Laboratories Trading Down 1.5 %

NASDAQ SLAB traded down $1.80 on Thursday, reaching $119.57. 299,434 shares of the stock were exchanged, compared to its average volume of 305,552. The firm has a market capitalization of $3.88 billion, a PE ratio of -20.13 and a beta of 1.15. Silicon Laboratories has a one year low of $94.00 and a one year high of $160.00. The company’s 50-day simple moving average is $137.08 and its two-hundred day simple moving average is $123.48.

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). Silicon Laboratories had a negative net margin of 32.69% and a negative return on equity of 10.46%. The company had revenue of $166.25 million for the quarter, compared to analysts’ expectations of $166.09 million. During the same quarter in the previous year, the company earned ($1.19) EPS. Silicon Laboratories’s revenue for the quarter was up 91.4% on a year-over-year basis. Sell-side analysts forecast that Silicon Laboratories will post -0.97 earnings per share for the current fiscal year.

Insider Buying and Selling at Silicon Laboratories

In related news, Director William G. Bock sold 2,000 shares of the business’s stock in a transaction that occurred on Wednesday, January 22nd. The shares were sold at an average price of $140.77, for a total transaction of $281,540.00. Following the completion of the transaction, the director now owns 32,115 shares in the company, valued at $4,520,828.55. The trade was a 5.86 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Navdeep S. Sooch sold 2,360 shares of the firm’s stock in a transaction 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 completion of the sale, the director now directly owns 400,567 shares of the company’s stock, valued at $59,684,483. The trade was a 0.59 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 5,360 shares of company stock valued at $782,610 in the last three months. Company insiders own 1.72% of the company’s stock.

Hedge Funds Weigh In On Silicon Laboratories

Several hedge funds have recently modified their holdings of SLAB. Capital Research Global Investors increased its stake in Silicon Laboratories by 23.3% during the 4th quarter. Capital Research Global Investors now owns 2,131,920 shares of the semiconductor company’s stock valued at $264,827,000 after purchasing an additional 403,010 shares in the last quarter. Norges Bank purchased a new stake in shares of Silicon Laboratories during the fourth quarter valued at $34,622,000. Wellington Management Group LLP increased its position in shares of Silicon Laboratories by 28.3% in the 3rd quarter. Wellington Management Group LLP now owns 888,382 shares of the semiconductor company’s stock valued at $102,670,000 after acquiring an additional 195,997 shares during the period. Invesco Ltd. raised its stake in Silicon Laboratories by 46.9% in the 4th quarter. Invesco Ltd. now owns 595,382 shares of the semiconductor company’s stock worth $73,958,000 after acquiring an additional 190,085 shares during the last quarter. Finally, Raymond James Financial Inc. acquired a new stake in Silicon Laboratories during the 4th quarter worth about $14,252,000.

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.