StockNews.com Downgrades Silicon Laboratories (NASDAQ:SLAB) to Sell

Silicon Laboratories (NASDAQ:SLAB) was downgraded by equities research analysts at StockNews.com from a “hold” rating to a “sell” rating in a research report issued on Friday.

Several other research analysts have also commented on SLAB. Morgan Stanley cut their price target on shares of Silicon Laboratories from $123.00 to $97.00 and set an “equal weight” rating on the stock in a report on Tuesday, November 5th. Needham & Company LLC lifted their target price on shares of Silicon Laboratories from $140.00 to $150.00 and gave the company a “buy” rating in a report on Wednesday, February 5th. Benchmark upgraded Silicon Laboratories from a “hold” rating to a “buy” rating and set a $160.00 price target for the company in a report on Wednesday, February 5th. Stifel Nicolaus boosted their price objective on Silicon Laboratories from $135.00 to $145.00 and gave the stock a “buy” rating in a research note on Monday, January 6th. Finally, JPMorgan Chase & Co. lowered their target price on Silicon Laboratories from $150.00 to $135.00 and set an “overweight” rating for the company in a research note on Tuesday, November 5th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $136.20.

Silicon Laboratories Stock Down 0.6 %

Shares of SLAB opened at $149.54 on Friday. Silicon Laboratories has a fifty-two week low of $94.00 and a fifty-two week high of $154.91. The company’s fifty day moving average is $133.35 and its two-hundred day moving average is $118.24. The firm has a market cap of $4.85 billion, a PE ratio of -25.18 and a beta of 1.16.

Silicon Laboratories (NASDAQ:SLAB) last issued its earnings results on Tuesday, February 4th. The semiconductor company reported ($0.11) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.11). The firm had revenue of $166.25 million for the quarter, compared to analysts’ expectations of $166.09 million. Silicon Laboratories had a negative return on equity of 10.46% and a negative net margin of 32.69%. The firm’s revenue for the quarter was up 91.4% compared to the same quarter last year. During the same quarter last year, the firm earned ($1.19) earnings per share. As a group, equities research analysts anticipate that Silicon Laboratories will post -0.47 earnings per share for the current year.

Insider Activity

In other news, Director Navdeep S. Sooch sold 2,360 shares of the company’s stock in a transaction dated Wednesday, February 5th. The shares were sold at an average price of $149.00, for a total value of $351,640.00. Following the sale, the director now owns 400,567 shares in the company, valued at approximately $59,684,483. This represents a 0.59 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director William G. Bock sold 2,000 shares of Silicon Laboratories stock in a transaction dated Wednesday, January 22nd. The stock was sold at an average price of $140.77, for a total value of $281,540.00. Following the completion of the transaction, the director now owns 32,115 shares of the company’s stock, valued at $4,520,828.55. This trade represents a 5.86 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 1.72% of the company’s stock.

Hedge Funds Weigh In On Silicon Laboratories

Large investors have recently added to or reduced their stakes in the company. FMR LLC raised its holdings in shares of Silicon Laboratories by 0.5% during the fourth quarter. FMR LLC now owns 4,867,203 shares of the semiconductor company’s stock worth $604,604,000 after purchasing an additional 23,833 shares during the period. Vanguard Group Inc. raised its stake in Silicon Laboratories by 1.9% during the fourth quarter. Vanguard Group Inc. now owns 3,959,580 shares of the semiconductor company’s stock worth $491,859,000 after acquiring an additional 71,942 shares during the period. Capital Research Global Investors lifted its holdings in Silicon Laboratories by 23.3% in the fourth quarter. Capital Research Global Investors now owns 2,131,920 shares of the semiconductor company’s stock worth $264,827,000 after acquiring an additional 403,010 shares during the last quarter. Wellington Management Group LLP grew its holdings in shares of Silicon Laboratories by 28.3% during the third quarter. Wellington Management Group LLP now owns 888,382 shares of the semiconductor company’s stock valued at $102,670,000 after purchasing an additional 195,997 shares during the last quarter. Finally, Geode Capital Management LLC raised its position in shares of Silicon Laboratories by 2.1% during the 3rd quarter. Geode Capital Management LLC now owns 781,049 shares of the semiconductor company’s stock worth $90,282,000 after purchasing an additional 15,728 shares during the period.

Silicon Laboratories Company Profile

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.