Silicon Laboratories, Inc. (NASDAQ:SLAB) Receives Average Rating of “Reduce” from Brokerages

Shares of Silicon Laboratories, Inc. (NASDAQ:SLAB) have been assigned a consensus recommendation of “Reduce” from the eight analysts that are presently covering the company, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell recommendation and seven have assigned a hold recommendation to the company. The average twelve-month price objective among brokerages that have updated their coverage on the stock in the last year is $177.50.

Separately, Weiss Ratings reiterated a “sell (d-)” rating on shares of Silicon Laboratories in a research report on Wednesday, June 24th.

Silicon Laboratories Price Performance

Shares of NASDAQ:SLAB opened at $216.88 on Monday. Silicon Laboratories has a 52 week low of $115.50 and a 52 week high of $220.90. The stock has a market capitalization of $7.15 billion, a P/E ratio of -141.75 and a beta of 1.36. The firm has a fifty day simple moving average of $218.24 and a two-hundred day simple moving average of $202.91.

Silicon Laboratories (NASDAQ:SLAB) last posted its earnings results on Tuesday, May 5th. The semiconductor company reported $0.53 earnings per share for the quarter, topping analysts’ consensus estimates of $0.49 by $0.04. The firm had revenue of $213.50 million for the quarter, compared to the consensus estimate of $214.02 million. Silicon Laboratories had a negative net margin of 6.13% and a negative return on equity of 2.18%. The business’s quarterly revenue was up 20.1% on a year-over-year basis. During the same period in the previous year, the firm posted ($0.08) EPS. On average, analysts expect that Silicon Laboratories will post 0.74 earnings per share for the current year.

Insider Activity

In other news, CEO Robert Matthew Johnson sold 8,024 shares of the firm’s stock in a transaction that occurred on Monday, May 18th. The stock was sold at an average price of $216.83, for a total value of $1,739,843.92. Following the completion of the sale, the chief executive officer directly owned 80,519 shares of the company’s stock, valued at $17,458,934.77. This trade represents a 9.06% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 1.60% of the stock is owned by insiders.

Institutional Trading of Silicon Laboratories

Several hedge funds and other institutional investors have recently bought and sold shares of SLAB. Norges Bank bought a new stake in shares of Silicon Laboratories in the 4th quarter worth about $56,008,000. Thrivent Financial for Lutherans boosted its stake in shares of Silicon Laboratories by 312.9% during the 4th quarter. Thrivent Financial for Lutherans now owns 467,958 shares of the semiconductor company’s stock worth $61,162,000 after purchasing an additional 354,621 shares during the period. AQR Capital Management LLC grew its holdings in Silicon Laboratories by 1,970.7% during the 2nd quarter. AQR Capital Management LLC now owns 370,492 shares of the semiconductor company’s stock valued at $54,516,000 after purchasing an additional 352,600 shares during the last quarter. Westfield Capital Management Co. LP grew its holdings in Silicon Laboratories by 59.9% during the 4th quarter. Westfield Capital Management Co. LP now owns 547,403 shares of the semiconductor company’s stock valued at $71,546,000 after purchasing an additional 205,093 shares during the last quarter. Finally, Hsbc Holdings PLC raised its position in Silicon Laboratories by 1,752.1% in the 1st quarter. Hsbc Holdings PLC now owns 214,071 shares of the semiconductor company’s stock worth $44,358,000 after purchasing an additional 202,513 shares during the period.

Silicon Laboratories Company Profile

Silicon Laboratories (NASDAQ:SLAB) is a global semiconductor company that develops high-performance analog and mixed-signal integrated circuits, wireless system-on-chips (SoCs), microcontrollers, and radio frequency (RF) solutions. Its product portfolio is tailored to support the Internet of Things (IoT), infrastructure, industrial automation, consumer electronics, automotive, and energy markets. By combining silicon, software, and tools, Silicon Labs aims to accelerate development cycles and deliver low-power, highly integrated solutions that address demanding application requirements.

Founded in 1996 and headquartered in Austin, Texas, Silicon Labs has grown into a multinational organization with engineering and sales operations across North America, Europe, and Asia.