Silicon Laboratories (NASDAQ:SLAB) Raised to Buy at Needham & Company LLC

Needham & Company LLC upgraded shares of Silicon Laboratories (NASDAQ:SLAB) from a hold rating to a buy rating in a research note issued to investors on Thursday, Marketbeat Ratings reports. They currently have $150.00 price target on the semiconductor company’s stock.

SLAB has been the subject of several other reports. JPMorgan Chase & Co. upped their price target on shares of Silicon Laboratories from $145.00 to $165.00 and gave the company an overweight rating in a research report on Thursday, February 8th. Stifel Nicolaus upped their price target on shares of Silicon Laboratories from $136.00 to $155.00 and gave the company a buy rating in a research report on Tuesday, January 2nd. Summit Insights lowered shares of Silicon Laboratories from a buy rating to a hold rating in a research report on Wednesday, April 24th. StockNews.com lowered shares of Silicon Laboratories from a hold rating to a sell rating in a report on Friday, December 29th. Finally, TD Cowen increased their target price on shares of Silicon Laboratories from $140.00 to $155.00 and gave the stock an outperform rating in a report on Thursday, February 8th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of Hold and an average price target of $135.00.

Silicon Laboratories Stock Up 2.7 %

NASDAQ SLAB opened at $122.13 on Thursday. The company has a 50-day simple moving average of $133.57 and a two-hundred day simple moving average of $122.23. Silicon Laboratories has a 12-month low of $74.56 and a 12-month high of $166.94. The firm has a market cap of $3.90 billion, a price-to-earnings ratio of -36.90 and a beta of 1.27.

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

Institutional Trading of Silicon Laboratories

A number of institutional investors have recently modified their holdings of SLAB. Venturi Wealth Management LLC bought a new position in Silicon Laboratories in the third quarter worth about $30,000. GAMMA Investing LLC bought a new position in Silicon Laboratories in the fourth quarter worth about $36,000. Gladius Capital Management LP raised its stake in Silicon Laboratories by 328.7% in the fourth quarter. Gladius Capital Management LP now owns 373 shares of the semiconductor company’s stock worth $49,000 after buying an additional 286 shares in the last quarter. CWM LLC raised its stake in Silicon Laboratories by 78.1% in the fourth quarter. CWM LLC now owns 374 shares of the semiconductor company’s stock worth $49,000 after buying an additional 164 shares in the last quarter. Finally, Global Retirement Partners LLC raised its stake in Silicon Laboratories by 31.7% in the third quarter. Global Retirement Partners LLC now owns 507 shares of the semiconductor company’s stock worth $58,000 after buying an additional 122 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.