Silicon Laboratories (NASDAQ:SLAB) Sets New 52-Week High – Time to Buy?

Silicon Laboratories, Inc. (NASDAQ:SLAB)’s share price reached a new 52-week high on Wednesday . The stock traded as high as $216.55 and last traded at $216.27, with a volume of 26267 shares trading hands. The stock had previously closed at $215.71.

Wall Street Analysts Forecast Growth

SLAB has been the topic of several research reports. KeyCorp lowered shares of Silicon Laboratories from an “overweight” rating to a “hold” rating in a research note on Wednesday, February 4th. Weiss Ratings reissued a “sell (d-)” rating on shares of Silicon Laboratories in a research report on Friday, March 27th. Royal Bank Of Canada lifted their price objective on Silicon Laboratories from $160.00 to $205.00 and gave the company a “sector perform” rating in a research report on Thursday, February 5th. Needham & Company LLC cut Silicon Laboratories from a “buy” rating to a “hold” rating in a research report on Wednesday, February 4th. Finally, Citigroup lifted their price objective on Silicon Laboratories from $135.00 to $231.00 and gave the company a “neutral” rating in a research report on Friday, February 6th. One equities research analyst has rated the stock with a Buy rating, eight have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $167.78.

Silicon Laboratories Stock Up 0.2%

The stock has a market cap of $7.18 billion, a price-to-earnings ratio of -109.40 and a beta of 1.45. The business has a 50-day moving average of $208.19 and a 200-day moving average of $166.43.

Silicon Laboratories (NASDAQ:SLAB) last released its quarterly earnings data on Wednesday, February 4th. The semiconductor company reported $0.56 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.54 by $0.02. Silicon Laboratories had a negative return on equity of 4.07% and a negative net margin of 8.27%.The firm had revenue of $208.21 million during the quarter, compared to analysts’ expectations of $207.63 million. During the same quarter last year, the firm earned ($0.11) earnings per share. The business’s revenue for the quarter was up 25.3% on a year-over-year basis. Equities analysts anticipate that Silicon Laboratories, Inc. will post 0.71 earnings per share for the current year.

Institutional Trading of Silicon Laboratories

Institutional investors and hedge funds have recently made changes to their positions in the stock. Kestra Advisory Services LLC acquired a new stake in shares of Silicon Laboratories in the fourth quarter worth about $32,000. First Horizon Corp acquired a new stake in shares of Silicon Laboratories in the third quarter worth about $35,000. EverSource Wealth Advisors LLC lifted its position in shares of Silicon Laboratories by 45.7% in the third quarter. EverSource Wealth Advisors LLC now owns 274 shares of the semiconductor company’s stock worth $36,000 after buying an additional 86 shares during the last quarter. Covestor Ltd lifted its position in shares of Silicon Laboratories by 260.3% in the fourth quarter. Covestor Ltd now owns 281 shares of the semiconductor company’s stock worth $37,000 after buying an additional 203 shares during the last quarter. Finally, UMB Bank n.a. lifted its position in shares of Silicon Laboratories by 43.9% during the 3rd quarter. UMB Bank n.a. now owns 282 shares of the semiconductor company’s stock worth $37,000 after purchasing an additional 86 shares during the last quarter.

Silicon Laboratories Company Profile

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.