Benchmark Reaffirms Hold Rating for Silicon Laboratories (NASDAQ:SLAB)

Silicon Laboratories (NASDAQ:SLAB)‘s stock had its “hold” rating reiterated by Benchmark in a report issued on Thursday, Benzinga reports.

SLAB has been the topic of several other research reports. JPMorgan Chase & Co. boosted their target price on shares of Silicon Laboratories from $145.00 to $165.00 and gave the stock an “overweight” rating in a research report on Thursday, February 8th. Needham & Company LLC raised shares of Silicon Laboratories from a “hold” rating to a “buy” rating and set a $150.00 target price on the stock in a research report on Thursday. Stifel Nicolaus upped their price objective on shares of Silicon Laboratories from $136.00 to $155.00 and gave the company a “buy” rating in a report on Tuesday, January 2nd. Barclays upped their price objective on shares of Silicon Laboratories from $120.00 to $140.00 and gave the company an “equal weight” rating in a report on Thursday, February 8th. Finally, Summit Insights downgraded shares of Silicon Laboratories from a “buy” rating to a “hold” rating in a report on Wednesday. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and five have given a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $142.88.

Silicon Laboratories Price Performance

NASDAQ:SLAB traded up $5.09 during trading hours on Thursday, hitting $119.35. 165,200 shares of the company were exchanged, compared to its average volume of 321,139. The stock has a market capitalization of $3.81 billion, a price-to-earnings ratio of -106.02 and a beta of 1.27. Silicon Laboratories has a 52-week low of $74.56 and a 52-week high of $166.94. The company’s 50 day moving average price is $134.92 and its 200-day moving average price is $122.17.

Silicon Laboratories (NASDAQ:SLAB) last released its earnings results on Wednesday, April 24th. The semiconductor company reported ($1.34) earnings per share for the quarter, missing the consensus estimate of ($1.29) by ($0.05). The company had revenue of $106.38 million for the quarter, compared to analysts’ expectations of $104.45 million. Silicon Laboratories had a positive return on equity of 0.97% and a negative net margin of 4.41%. On average, equities analysts predict that Silicon Laboratories will post -1.66 earnings per share for the current year.

Institutional Trading of Silicon Laboratories

A number of hedge funds have recently added to or reduced their stakes in SLAB. Global Retirement Partners LLC boosted its holdings in Silicon Laboratories by 31.7% during 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. SG Americas Securities LLC acquired a new position in Silicon Laboratories during the third quarter worth $380,000. Raymond James & Associates raised its position in Silicon Laboratories by 14.2% during the third quarter. Raymond James & Associates now owns 79,046 shares of the semiconductor company’s stock worth $9,161,000 after acquiring an additional 9,845 shares during the period. Migdal Insurance & Financial Holdings Ltd. raised its position in Silicon Laboratories by 20.0% during the third quarter. Migdal Insurance & Financial Holdings Ltd. now owns 733 shares of the semiconductor company’s stock worth $85,000 after acquiring an additional 122 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its position in Silicon Laboratories by 6.8% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,372 shares of the semiconductor company’s stock worth $738,000 after acquiring an additional 403 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.