Needham & Company LLC Issues Positive Forecast for Silicon Laboratories (NASDAQ:SLAB) Stock Price

Silicon Laboratories (NASDAQ:SLAB) had its price target increased by Needham & Company LLC from $140.00 to $150.00 in a research note released on Wednesday,Benzinga reports. They currently have a buy rating on the semiconductor company’s stock.

SLAB has been the subject of several other research reports. StockNews.com upgraded Silicon Laboratories to a “sell” rating in a research note on Friday, November 8th. Stifel Nicolaus boosted their price objective on shares of Silicon Laboratories from $135.00 to $145.00 and gave the stock a “buy” rating in a research report on Monday, January 6th. Susquehanna initiated coverage on shares of Silicon Laboratories in a research report on Tuesday, December 17th. They issued a “neutral” rating and a $130.00 target price on the stock. Benchmark raised shares of Silicon Laboratories from a “hold” rating to a “buy” rating and set a $160.00 price target for the company in a research report on Wednesday. Finally, Morgan Stanley dropped their price objective on Silicon Laboratories from $123.00 to $97.00 and set an “equal weight” rating on the stock in a report on Tuesday, November 5th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $136.20.

Silicon Laboratories Price Performance

Shares of NASDAQ:SLAB opened at $149.06 on Wednesday. Silicon Laboratories has a 52 week low of $94.00 and a 52 week high of $154.91. The company’s 50 day moving average is $128.35 and its two-hundred day moving average is $116.74.

Silicon Laboratories (NASDAQ:SLAB) last posted its earnings results on Tuesday, February 4th. The semiconductor company reported ($0.11) EPS for the quarter, meeting the consensus estimate of ($0.11). The firm had revenue of $166.25 million for the quarter, compared to analyst estimates of $166.09 million. Silicon Laboratories had a negative return on equity of 12.60% and a negative net margin of 46.93%. Silicon Laboratories’s revenue for the quarter was up 91.4% compared to the same quarter last year. During the same quarter in the prior year, the company posted ($1.19) earnings per share. As a group, research analysts forecast that Silicon Laboratories will post -3.56 earnings per share for the current year.

Insider Transactions at Silicon Laboratories

In other news, Director William G. Bock sold 2,000 shares of the company’s stock in a transaction that occurred on Wednesday, January 22nd. The stock was sold at an average price of $140.77, for a total transaction of $281,540.00. Following the completion of 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 document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 1.72% of the company’s stock.

Hedge Funds Weigh In On Silicon Laboratories

Large investors have recently bought and sold shares of the company. Fisher Asset Management LLC increased its stake in shares of Silicon Laboratories by 114.4% during the fourth quarter. Fisher Asset Management LLC now owns 119,292 shares of the semiconductor company’s stock worth $14,818,000 after acquiring an additional 63,652 shares during the period. GW&K Investment Management LLC raised its stake in shares of Silicon Laboratories by 5.6% during the 4th quarter. GW&K Investment Management LLC now owns 682,045 shares of the semiconductor company’s stock worth $84,723,000 after buying an additional 36,330 shares in the last quarter. Proficio Capital Partners LLC acquired a new stake in shares of Silicon Laboratories in the 4th quarter valued at approximately $2,423,000. Oppenheimer Asset Management Inc. lifted its holdings in shares of Silicon Laboratories by 1.4% in the 4th quarter. Oppenheimer Asset Management Inc. now owns 7,169 shares of the semiconductor company’s stock valued at $891,000 after buying an additional 102 shares during the period. Finally, New York State Common Retirement Fund grew its holdings in Silicon Laboratories by 10.1% during the fourth quarter. New York State Common Retirement Fund now owns 10,868 shares of the semiconductor company’s stock worth $1,350,000 after acquiring an additional 1,000 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.