Barclays Forecasts Strong Price Appreciation for Silicon Laboratories (NASDAQ:SLAB) Stock

Silicon Laboratories (NASDAQ:SLAB - Get Free Report) had its target price increased by analysts at Barclays from $100.00 to $130.00 in a research note issued to investors on Tuesday,Benzinga reports. The firm currently has an "equal weight" rating on the semiconductor company's stock. Barclays's price target indicates a potential upside of 2.56% from the company's previous close.

• Silicon Labs Stock is Falling to a Better Place

SLAB has been the topic of several other research reports. KeyCorp upped their target price on shares of Silicon Laboratories from $160.00 to $180.00 and gave the stock an "overweight" rating in a research note on Tuesday, July 8th. Stifel Nicolaus upped their target price on shares of Silicon Laboratories from $144.00 to $160.00 and gave the stock a "buy" rating in a research note on Friday, July 18th. Benchmark reiterated a "buy" rating and issued a $160.00 target price on shares of Silicon Laboratories in a research note on Tuesday, May 27th. Needham & Company LLC reiterated a "buy" rating and issued a $150.00 target price on shares of Silicon Laboratories in a research note on Wednesday, May 14th. Finally, Susquehanna upped their target price on shares of Silicon Laboratories from $110.00 to $150.00 and gave the stock a "neutral" rating in a research note on Tuesday, July 22nd. Four research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $145.25.

Get Our Latest Stock Analysis on SLAB

Silicon Laboratories Price Performance

• Mid-Cap Chip Designers Trade Near Highs; Outperform Broader Market

NASDAQ:SLAB traded down $6.79 during mid-day trading on Tuesday, hitting $126.76. 1,071,023 shares of the company's stock were exchanged, compared to its average volume of 412,966. Silicon Laboratories has a one year low of $82.82 and a one year high of $160.00. The business has a fifty day moving average price of $138.54 and a 200 day moving average price of $128.30. The company has a market cap of $4.13 billion, a PE ratio of -24.81 and a beta of 1.48.

Silicon Laboratories (NASDAQ:SLAB - Get Free Report) last issued its earnings results on Tuesday, August 5th. The semiconductor company reported $0.11 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.09 by $0.02. The firm had revenue of $192.85 million for the quarter, compared to the consensus estimate of $192.57 million. Silicon Laboratories had a negative net margin of 25.16% and a negative return on equity of 8.80%. The business's revenue was up 32.6% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($0.56) earnings per share. On average, equities analysts forecast that Silicon Laboratories will post -0.97 EPS for the current fiscal year.

Insider Activity at Silicon Laboratories

In other news, CEO Robert Matthew Johnson sold 5,879 shares of the business's stock in a transaction that occurred on Friday, May 16th. The shares were sold at an average price of $131.20, for a total transaction of $771,324.80. Following the completion of the transaction, the chief executive officer directly owned 73,688 shares of the company's stock, valued at $9,667,865.60. The trade was a 7.39% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Robert J. Conrad sold 4,029 shares of the business's stock in a transaction that occurred on Friday, May 16th. The shares were sold at an average price of $131.20, for a total transaction of $528,604.80. Following the transaction, the senior vice president directly owned 25,380 shares of the company's stock, valued at $3,329,856. The trade was a 13.70% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 11,080 shares of company stock valued at $1,452,290 over the last three months. 1.60% of the stock is owned by corporate insiders.

Institutional Trading of Silicon Laboratories

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in SLAB. Quarry LP purchased a new stake in Silicon Laboratories during the first quarter valued at approximately $25,000. Skandinaviska Enskilda Banken AB publ purchased a new stake in Silicon Laboratories during the first quarter valued at approximately $34,000. UMB Bank n.a. increased its holdings in Silicon Laboratories by 111.3% during the first quarter. UMB Bank n.a. now owns 336 shares of the semiconductor company's stock valued at $38,000 after buying an additional 177 shares during the last quarter. Parallel Advisors LLC increased its holdings in Silicon Laboratories by 143.7% during the first quarter. Parallel Advisors LLC now owns 463 shares of the semiconductor company's stock valued at $52,000 after buying an additional 273 shares during the last quarter. Finally, Larson Financial Group LLC purchased a new stake in Silicon Laboratories during the first quarter valued at approximately $55,000.

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.

Read More

• Five stocks we like better than Silicon Laboratories
• Stock Market Upgrades: What Are They?
• Vertical Aerospace's New Deal and Earnings De-Risk Production
• Market Cap Calculator: How to Calculate Market Cap
• Ride the Rally: 3 Earnings Winners With More Upside Ahead
• What is the Dow Jones Industrial Average (DJIA)?
• Applied Digital: Why a Surge in Bullish Bets Signals a New Era

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.

Should You Invest $1,000 in Silicon Laboratories Right Now?

Before you consider Silicon Laboratories, you'll want to hear this.

MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Silicon Laboratories wasn't on the list.

While Silicon Laboratories currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.

View The Five Stocks Here