Silicon Laboratories (NASDAQ:SLAB) Cut to “Sell” at StockNews.com

StockNews.com cut shares of Silicon Laboratories (NASDAQ:SLAB) from a hold rating to a sell rating in a report issued on Thursday morning.

SLAB has been the topic of several other research reports. Needham & Company LLC reissued a “buy” rating and issued a $150.00 price target on shares of Silicon Laboratories in a report on Wednesday, March 12th. Barclays lifted their price objective on shares of Silicon Laboratories from $75.00 to $120.00 and gave the company an “equal weight” rating in a research report on Friday, January 17th. Susquehanna assumed coverage on Silicon Laboratories in a report on Tuesday, December 17th. They set a “neutral” rating and a $130.00 price target on the stock. Stifel Nicolaus raised their target price on Silicon Laboratories from $135.00 to $145.00 and gave the company a “buy” rating in a research report on Monday, January 6th. Finally, KeyCorp boosted their price target on Silicon Laboratories from $115.00 to $160.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 22nd. One research analyst has rated the stock with a sell rating, five have given a hold rating and six have issued a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $136.20.

Silicon Laboratories Price Performance

SLAB opened at $113.03 on Thursday. Silicon Laboratories has a 12-month low of $94.00 and a 12-month high of $160.00. The stock has a market capitalization of $3.67 billion, a PE ratio of -19.03 and a beta of 1.15. The firm’s fifty day moving average price is $136.65 and its 200 day moving average price is $123.65.

Silicon Laboratories (NASDAQ:SLAB) last released its earnings results on Tuesday, February 4th. The semiconductor company reported ($0.11) EPS for the quarter, hitting analysts’ consensus estimates of ($0.11). Silicon Laboratories had a negative return on equity of 10.46% and a negative net margin of 32.69%. The company had revenue of $166.25 million for the quarter, compared to the consensus estimate of $166.09 million. During the same quarter last year, the business posted ($1.19) EPS. Silicon Laboratories’s quarterly revenue was up 91.4% compared to the same quarter last year. On average, equities research 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 Navdeep S. Sooch sold 2,360 shares of the 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 transaction, the director now owns 400,567 shares in the company, valued at $59,684,483. This trade represents a 0.59 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director William G. Bock sold 1,000 shares of the business’s stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $149.43, for a total value of $149,430.00. Following the sale, the director now owns 31,115 shares in the company, valued at approximately $4,649,514.45. The trade was a 3.11 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 5,360 shares of company stock valued at $782,610. Corporate insiders own 1.60% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Jones Financial Companies Lllp lifted its position in shares of Silicon Laboratories by 44.5% in the 4th quarter. Jones Financial Companies Lllp now owns 224 shares of the semiconductor company’s stock valued at $28,000 after acquiring an additional 69 shares in the last quarter. Advisors Asset Management Inc. raised its stake in Silicon Laboratories by 159.4% during the 3rd quarter. Advisors Asset Management Inc. now owns 275 shares of the semiconductor company’s stock valued at $32,000 after purchasing an additional 169 shares during the period. Headlands Technologies LLC purchased a new stake in shares of Silicon Laboratories in the fourth quarter valued at $70,000. Venturi Wealth Management LLC boosted its position in shares of Silicon Laboratories by 207.0% in the fourth quarter. Venturi Wealth Management LLC now owns 786 shares of the semiconductor company’s stock worth $98,000 after buying an additional 530 shares during the period. Finally, Asset Management One Co. Ltd. purchased a new position in shares of Silicon Laboratories during the fourth quarter valued at $117,000.

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.