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

Silicon Laboratories (NASDAQ:SLAB)‘s stock had its “hold” rating restated by equities researchers at Benchmark in a research note issued to investors on Thursday, Benzinga reports.

SLAB has been the topic of a number of other research reports. Needham & Company LLC upgraded shares of Silicon Laboratories from a “hold” rating to a “buy” rating and set a $150.00 price target on the stock in a report on Thursday. JPMorgan Chase & Co. raised their target price on shares of Silicon Laboratories from $145.00 to $165.00 and gave the stock an “overweight” rating in a report on Thursday, February 8th. StockNews.com cut shares of Silicon Laboratories from a “hold” rating to a “sell” rating in a report on Friday, December 29th. TD Cowen dropped their target price on shares of Silicon Laboratories from $155.00 to $145.00 and set a “buy” rating on the stock in a report on Thursday. Finally, Barclays raised their target price on shares of Silicon Laboratories from $120.00 to $140.00 and gave the stock an “equal weight” rating in a report on Thursday, February 8th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and five have issued a buy rating to the company. According to MarketBeat, Silicon Laboratories currently has an average rating of “Hold” and a consensus price target of $142.88.

Silicon Laboratories Stock Performance

Shares of NASDAQ:SLAB traded up $5.09 during trading on Thursday, reaching $119.35. 165,200 shares of the stock traded hands, compared to its average volume of 321,139. The stock has a 50-day moving average of $134.92 and a two-hundred day moving average of $122.17. Silicon Laboratories has a 52-week low of $74.56 and a 52-week high of $166.94. The stock has a market cap of $3.81 billion, a P/E ratio of -106.02 and a beta of 1.27.

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

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. raised its position in Silicon Laboratories by 5.5% in the fourth quarter. Vanguard Group Inc. now owns 3,464,163 shares of the semiconductor company’s stock worth $458,205,000 after acquiring an additional 179,131 shares during the period. Capital Research Global Investors raised its position in shares of Silicon Laboratories by 73.9% during the 4th quarter. Capital Research Global Investors now owns 937,939 shares of the semiconductor company’s stock valued at $124,061,000 after purchasing an additional 398,489 shares during the period. Dimensional Fund Advisors LP raised its position in shares of Silicon Laboratories by 4.7% during the 4th quarter. Dimensional Fund Advisors LP now owns 641,710 shares of the semiconductor company’s stock valued at $84,884,000 after purchasing an additional 28,759 shares during the period. Van Berkom & Associates Inc. raised its position in shares of Silicon Laboratories by 36.2% during the 3rd quarter. Van Berkom & Associates Inc. now owns 572,762 shares of the semiconductor company’s stock valued at $66,377,000 after purchasing an additional 152,269 shares during the period. Finally, Federated Hermes Inc. raised its position in shares of Silicon Laboratories by 6.9% during the 4th quarter. Federated Hermes Inc. now owns 516,484 shares of the semiconductor company’s stock valued at $68,315,000 after purchasing an additional 33,357 shares during the period.

About Silicon Laboratories

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.