KeyCorp Issues Positive Forecast for Silicon Laboratories (NASDAQ:SLAB) Stock Price

Silicon Laboratories (NASDAQ:SLAB) had its price objective lifted by KeyCorp from $115.00 to $160.00 in a research report released on Wednesday morning,Benzinga reports. The firm currently has an overweight rating on the semiconductor company’s stock.

A number of other equities research analysts also recently commented on SLAB. Benchmark reaffirmed a “hold” rating on shares of Silicon Laboratories in a research report on Tuesday, November 5th. StockNews.com upgraded Silicon Laboratories to a “sell” rating in a report on Friday, November 8th. Susquehanna started coverage on shares of Silicon Laboratories in a report on Tuesday, December 17th. They set a “neutral” rating and a $130.00 price objective on the stock. Barclays boosted their target price on shares of Silicon Laboratories from $75.00 to $120.00 and gave the company an “equal weight” rating in a report on Friday, January 17th. Finally, JPMorgan Chase & Co. cut their price target on shares of Silicon Laboratories from $150.00 to $135.00 and set an “overweight” rating on the stock in a research note on Tuesday, November 5th. 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 company. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $133.56.

Silicon Laboratories Trading Up 2.8 %

Shares of SLAB stock opened at $139.99 on Wednesday. The company has a market capitalization of $4.54 billion, a price-to-earnings ratio of -18.92 and a beta of 1.17. The firm has a 50-day moving average price of $121.89 and a 200 day moving average price of $115.43. Silicon Laboratories has a twelve month low of $94.00 and a twelve month high of $154.91.

Silicon Laboratories (NASDAQ:SLAB) last posted its quarterly earnings data on Monday, November 4th. The semiconductor company reported ($0.13) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.20) by $0.07. Silicon Laboratories had a negative net margin of 46.93% and a negative return on equity of 12.60%. The business had revenue of $166.00 million during the quarter, compared to analyst estimates of $165.50 million. During the same quarter in the previous year, the business posted $0.48 earnings per share. The company’s revenue was down 18.5% on a year-over-year basis. As a group, research analysts predict that Silicon Laboratories will post -3.56 earnings per share for the current year.

Insider Activity

In related news, Director William G. Bock sold 2,000 shares of the stock in a transaction dated Wednesday, January 22nd. The shares were sold at an average price of $140.77, for a total transaction of $281,540.00. Following the sale, the director now owns 32,115 shares in the company, valued at $4,520,828.55. This represents a 5.86 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 1.72% of the company’s stock.

Hedge Funds Weigh In On Silicon Laboratories

Institutional investors have recently made changes to their positions in the stock. Pacer Advisors Inc. boosted its position in Silicon Laboratories by 1.8% during the 4th quarter. Pacer Advisors Inc. now owns 4,839 shares of the semiconductor company’s stock valued at $601,000 after purchasing an additional 87 shares during the period. Procyon Advisors LLC lifted its stake in Silicon Laboratories by 4.4% in the fourth quarter. Procyon Advisors LLC now owns 3,176 shares of the semiconductor company’s stock valued at $395,000 after buying an additional 133 shares during the last quarter. Advisors Asset Management Inc. boosted its holdings in shares of Silicon Laboratories by 159.4% during the third quarter. Advisors Asset Management Inc. now owns 275 shares of the semiconductor company’s stock valued at $32,000 after acquiring an additional 169 shares during the period. GAMMA Investing LLC grew its position in shares of Silicon Laboratories by 84.1% during the third quarter. GAMMA Investing LLC now owns 497 shares of the semiconductor company’s stock worth $57,000 after acquiring an additional 227 shares during the last quarter. Finally, US Bancorp DE increased its holdings in shares of Silicon Laboratories by 14.0% in the 3rd quarter. US Bancorp DE now owns 1,892 shares of the semiconductor company’s stock worth $219,000 after acquiring an additional 232 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.