Silicon Laboratories (NASDAQ:SLAB) Reaches New 52-Week High – Should You Buy?

Shares of Silicon Laboratories, Inc. (NASDAQ:SLAB) reached a new 52-week high during trading on Wednesday . The company traded as high as $216.55 and last traded at $216.27, with a volume of 26267 shares traded. The stock had previously closed at $215.71.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the company. Benchmark downgraded Silicon Laboratories from a “buy” rating to a “hold” rating in a report on Wednesday, February 4th. Needham & Company LLC downgraded Silicon Laboratories from a “buy” rating to a “hold” rating in a report on Wednesday, February 4th. Citigroup lifted their target price on Silicon Laboratories from $135.00 to $231.00 and gave the stock a “neutral” rating in a report on Friday, February 6th. Royal Bank Of Canada lifted their target price on Silicon Laboratories from $160.00 to $205.00 and gave the stock a “sector perform” rating in a report on Thursday, February 5th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Silicon Laboratories in a report on Friday, March 27th. One investment analyst has rated the stock with a Buy rating, eight have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $167.78.

Silicon Laboratories Stock Up 0.5%

The company has a market cap of $7.15 billion, a price-to-earnings ratio of -108.96 and a beta of 1.45. The stock has a fifty day moving average price of $207.70 and a two-hundred day moving average price of $165.71.

Silicon Laboratories (NASDAQ:SLAB) last posted its earnings results on Wednesday, February 4th. The semiconductor company reported $0.56 earnings per share for the quarter, topping analysts’ consensus estimates of $0.54 by $0.02. The company had revenue of $208.21 million during the quarter, compared to the consensus estimate of $207.63 million. Silicon Laboratories had a negative return on equity of 4.07% and a negative net margin of 8.27%.The company’s revenue was up 25.3% on a year-over-year basis. During the same quarter last year, the firm earned ($0.11) earnings per share. Analysts predict that Silicon Laboratories, Inc. will post 0.71 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. raised its stake in Silicon Laboratories by 3.1% in the fourth quarter. Vanguard Group Inc. now owns 3,992,407 shares of the semiconductor company’s stock valued at $521,808,000 after purchasing an additional 121,432 shares in the last quarter. State Street Corp raised its stake in Silicon Laboratories by 0.5% in the second quarter. State Street Corp now owns 1,517,813 shares of the semiconductor company’s stock valued at $223,665,000 after purchasing an additional 7,139 shares in the last quarter. Invesco Ltd. raised its stake in Silicon Laboratories by 12.9% in the fourth quarter. Invesco Ltd. now owns 852,493 shares of the semiconductor company’s stock valued at $111,421,000 after purchasing an additional 97,351 shares in the last quarter. Geode Capital Management LLC raised its stake in Silicon Laboratories by 1.0% in the fourth quarter. Geode Capital Management LLC now owns 824,771 shares of the semiconductor company’s stock valued at $107,814,000 after purchasing an additional 7,921 shares in the last quarter. Finally, AQR Capital Management LLC raised its stake in Silicon Laboratories by 89.5% in the third quarter. AQR Capital Management LLC now owns 701,919 shares of the semiconductor company’s stock valued at $91,109,000 after purchasing an additional 331,427 shares in the last quarter.

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.