Silicon Laboratories, Inc. (NASDAQ:SLAB) Given Average Recommendation of “Hold” by Brokerages

Silicon Laboratories, Inc. (NASDAQ:SLAB) has been given a consensus recommendation of “Hold” by the ten brokerages that are currently covering the firm, Marketbeat reports. One analyst has rated the stock with a sell rating, eight have given a hold rating and one has assigned a buy rating to the company. The average twelve-month price target among analysts that have covered the stock in the last year is $171.4286.

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

Insiders Place Their Bets

In other news, CEO Robert Matthew Johnson sold 8,024 shares of the business’s stock in a transaction on Monday, May 18th. The stock was sold at an average price of $216.83, for a total transaction of $1,739,843.92. Following the completion of the transaction, the chief executive officer owned 80,519 shares of the company’s stock, valued at approximately $17,458,934.77. The trade was a 9.06% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.60% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Silicon Laboratories

Institutional investors have recently modified their holdings of the business. EverSource Wealth Advisors LLC raised its holdings in shares of Silicon Laboratories by 66.7% during the 1st quarter. EverSource Wealth Advisors LLC now owns 225 shares of the semiconductor company’s stock worth $47,000 after buying an additional 90 shares in the last quarter. Kestra Advisory Services LLC acquired a new position in shares of Silicon Laboratories during the 4th quarter worth $32,000. Covestor Ltd raised its holdings in shares of Silicon Laboratories by 260.3% during the 4th quarter. Covestor Ltd now owns 281 shares of the semiconductor company’s stock worth $37,000 after buying an additional 203 shares in the last quarter. Kemnay Advisory Services Inc. acquired a new position in shares of Silicon Laboratories during the 4th quarter worth $44,000. Finally, Jones Financial Companies Lllp raised its holdings in shares of Silicon Laboratories by 121.4% during the 1st quarter. Jones Financial Companies Lllp now owns 496 shares of the semiconductor company’s stock worth $56,000 after buying an additional 272 shares in the last quarter.

Silicon Laboratories Price Performance

Shares of NASDAQ SLAB opened at $219.03 on Thursday. The stock has a market capitalization of $7.22 billion, a PE ratio of -143.16 and a beta of 1.37. The business has a fifty day moving average price of $217.54 and a two-hundred day moving average price of $191.83. Silicon Laboratories has a fifty-two week low of $115.50 and a fifty-two week high of $220.90.

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

About Silicon Laboratories

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.