Benchmark Reaffirms “Hold” Rating for Silicon Laboratories (NASDAQ:SLAB)

Benchmark reaffirmed their hold rating on shares of Silicon Laboratories (NASDAQ:SLAB) in a report issued on Thursday, Benzinga reports.

Several other analysts have also issued reports on the stock. JPMorgan Chase & Co. boosted their price objective on shares of Silicon Laboratories from $145.00 to $165.00 and gave the company an overweight rating in a report on Thursday, February 8th. Stifel Nicolaus increased their price target on shares of Silicon Laboratories from $136.00 to $155.00 and gave the stock a buy rating in a research report on Tuesday, January 2nd. Barclays increased their price target on shares of Silicon Laboratories from $120.00 to $140.00 and gave the company an equal weight rating in a research note on Thursday, February 8th. StockNews.com lowered shares of Silicon Laboratories from a hold rating to a sell rating in a research report on Friday, December 29th. Finally, Needham & Company LLC raised Silicon Laboratories from a hold rating to a buy rating and set a $150.00 target price for the company in a report on Thursday. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of Hold and a consensus price target of $135.00.

Silicon Laboratories Stock Up 1.8 %

Shares of NASDAQ:SLAB traded up $2.12 during trading on Thursday, hitting $121.05. 224,165 shares of the stock traded hands, compared to its average volume of 326,123. The company has a market cap of $3.86 billion, a price-to-earnings ratio of -35.93 and a beta of 1.27. The company has a fifty day moving average price of $134.38 and a two-hundred day moving average price of $122.12. Silicon Laboratories has a 52-week low of $74.56 and a 52-week high of $166.94.

Silicon Laboratories (NASDAQ:SLAB) last issued its quarterly earnings results on Wednesday, April 24th. The semiconductor company reported ($1.34) EPS for the quarter, missing the consensus estimate of ($1.29) by ($0.05). Silicon Laboratories had a negative return on equity of 4.45% and a negative net margin of 16.36%. The company had revenue of $106.38 million during the quarter, compared to analysts’ expectations of $104.45 million. On average, equities research analysts predict that Silicon Laboratories will post -1.66 EPS for the current fiscal year.

Institutional Trading of Silicon Laboratories

Institutional investors have recently modified their holdings of the company. Park Avenue Securities LLC purchased a new stake in shares of Silicon Laboratories during the 3rd quarter worth about $339,000. Federated Hermes Inc. lifted its position in Silicon Laboratories by 6.9% during the 4th quarter. Federated Hermes Inc. now owns 516,484 shares of the semiconductor company’s stock worth $68,315,000 after acquiring an additional 33,357 shares in the last quarter. Venturi Wealth Management LLC acquired a new position in shares of Silicon Laboratories in the 3rd quarter valued at approximately $30,000. Schonfeld Strategic Advisors LLC acquired a new position in shares of Silicon Laboratories in the 3rd quarter valued at approximately $3,652,000. Finally, Envestnet Asset Management Inc. raised its position in shares of Silicon Laboratories by 37.2% in the 3rd quarter. Envestnet Asset Management Inc. now owns 90,289 shares of the semiconductor company’s stock valued at $10,464,000 after purchasing an additional 24,468 shares in the last quarter.

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.