Silicon Laboratories, Inc. (NASDAQ:SLAB) Receives Average Rating of “Reduce” from Brokerages

Silicon Laboratories, Inc. (NASDAQ:SLAB) has earned a consensus recommendation of “Reduce” from the eight research firms that are presently covering the stock, Marketbeat.com reports. One investment analyst has rated the stock with a sell recommendation and seven have given a hold recommendation to the company. The average 12-month price target among brokers that have updated their coverage on the stock in the last year is $177.50.

Separately, Weiss Ratings reiterated a “sell (d-)” rating on shares of Silicon Laboratories in a research note on Wednesday, June 24th.

Silicon Laboratories Stock Up 0.1%

Shares of SLAB opened at $216.88 on Monday. The business’s 50 day moving average price is $218.24 and its 200-day moving average price is $202.46. Silicon Laboratories has a 52 week low of $115.50 and a 52 week high of $220.90. The stock has a market cap of $7.15 billion, a P/E ratio of -141.75 and a beta of 1.36.

Silicon Laboratories (NASDAQ:SLAB) last posted its quarterly earnings data on Tuesday, May 5th. The semiconductor company reported $0.53 earnings per share for the quarter, beating analysts’ consensus estimates of $0.49 by $0.04. The company had revenue of $213.50 million during the quarter, compared to analyst estimates of $214.02 million. Silicon Laboratories had a negative return on equity of 2.18% and a negative net margin of 6.13%.The firm’s revenue for the quarter was up 20.1% on a year-over-year basis. During the same quarter last year, the company earned ($0.08) EPS. On average, equities analysts anticipate that Silicon Laboratories will post 0.74 EPS for the current year.

Insider Buying and Selling

In other news, CEO Robert Matthew Johnson sold 8,024 shares of the business’s stock in a transaction on Monday, May 18th. The stock was sold at an average price of $216.83, for a total value of $1,739,843.92. Following the completion of the transaction, the chief executive officer owned 80,519 shares in the company, valued at $17,458,934.77. The trade was a 9.06% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 1.60% of the company’s stock.

Institutional Trading of Silicon Laboratories

Institutional investors have recently made changes to their positions in the stock. AQR Capital Management LLC lifted its position in Silicon Laboratories by 43.7% during the first quarter. AQR Capital Management LLC now owns 17,892 shares of the semiconductor company’s stock valued at $2,001,000 after purchasing an additional 5,439 shares during the period. Millennium Management LLC grew its position in Silicon Laboratories by 2,804.1% in the 1st quarter. Millennium Management LLC now owns 99,842 shares of the semiconductor company’s stock worth $11,239,000 after purchasing an additional 96,404 shares during the period. Jones Financial Companies Lllp raised its stake in Silicon Laboratories by 121.4% during the 1st quarter. Jones Financial Companies Lllp now owns 496 shares of the semiconductor company’s stock valued at $56,000 after buying an additional 272 shares during the last quarter. United Services Automobile Association purchased a new stake in Silicon Laboratories during the 1st quarter valued at $235,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in shares of Silicon Laboratories by 1.8% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 97,156 shares of the semiconductor company’s stock valued at $10,937,000 after buying an additional 1,679 shares during the period.

About Silicon Laboratories

Silicon Laboratories (NASDAQ:SLAB) is a global semiconductor company that develops high-performance analog and mixed-signal integrated circuits, wireless system-on-chips (SoCs), microcontrollers, and radio frequency (RF) solutions. Its product portfolio is tailored to support the Internet of Things (IoT), infrastructure, industrial automation, consumer electronics, automotive, and energy markets. By combining silicon, software, and tools, Silicon Labs aims to accelerate development cycles and deliver low-power, highly integrated solutions that address demanding application requirements.

Founded in 1996 and headquartered in Austin, Texas, Silicon Labs has grown into a multinational organization with engineering and sales operations across North America, Europe, and Asia.