Silicon Laboratories (NASDAQ:SLAB) Hits New 52-Week High – What’s Next?

Silicon Laboratories, Inc. (NASDAQ:SLAB) reached a new 52-week high during trading on Tuesday . The company traded as high as $210.11 and last traded at $210.00, with a volume of 463162 shares changing hands. The stock had previously closed at $209.49.

Analysts Set New Price Targets

A number of research analysts have commented on SLAB shares. Royal Bank Of Canada upped their target price on shares of Silicon Laboratories from $160.00 to $205.00 and gave the company a “sector perform” rating in a research report on Thursday, February 5th. Citigroup increased their price target on shares of Silicon Laboratories from $135.00 to $231.00 and gave the stock a “neutral” rating in a research report on Friday, February 6th. KeyCorp cut shares of Silicon Laboratories from an “overweight” rating to a “hold” rating in a research report on Wednesday, February 4th. Weiss Ratings reissued a “sell (d-)” rating on shares of Silicon Laboratories in a research report on Friday, March 27th. Finally, Needham & Company LLC cut shares of Silicon Laboratories from a “buy” rating to a “hold” rating in a research report on Wednesday, February 4th. One research analyst has rated the stock with a Buy rating, eight have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $167.78.

Silicon Laboratories Stock Up 0.2%

The firm has a market cap of $6.92 billion, a price-to-earnings ratio of -105.53 and a beta of 1.45. The company’s 50-day moving average price is $197.90 and its 200-day moving average price is $156.64.

Silicon Laboratories (NASDAQ:SLAB) last issued its quarterly earnings results on Wednesday, February 4th. The semiconductor company reported $0.56 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.54 by $0.02. The business had revenue of $208.21 million for the quarter, compared to analysts’ expectations of $207.63 million. Silicon Laboratories had a negative net margin of 8.27% and a negative return on equity of 4.07%. The business’s quarterly revenue was up 25.3% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.11) earnings per share. On average, sell-side analysts predict that Silicon Laboratories, Inc. will post -0.97 earnings per share for the current fiscal year.

Insider Buying and Selling at Silicon Laboratories

In related news, Director Nina Richardson sold 1,355 shares of the company’s stock in a transaction that occurred on Tuesday, January 13th. The shares were sold at an average price of $149.00, for a total transaction of $201,895.00. Following the sale, the director directly owned 8,543 shares in the company, valued at approximately $1,272,907. This represents a 13.69% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 1.60% of the company’s stock.

Institutional Trading of Silicon Laboratories

Large investors have recently made changes to their positions in the company. Kestra Advisory Services LLC purchased a new stake in shares of Silicon Laboratories during the fourth quarter worth approximately $32,000. First Horizon Corp purchased a new stake in shares of Silicon Laboratories during the third quarter worth approximately $35,000. EverSource Wealth Advisors LLC increased its stake in shares of Silicon Laboratories by 45.7% during the third quarter. EverSource Wealth Advisors LLC now owns 274 shares of the semiconductor company’s stock worth $36,000 after buying an additional 86 shares during the period. UMB Bank n.a. increased its stake in shares of Silicon Laboratories by 43.9% during the third quarter. UMB Bank n.a. now owns 282 shares of the semiconductor company’s stock worth $37,000 after buying an additional 86 shares during the period. Finally, Covestor Ltd increased its stake in shares of Silicon Laboratories by 260.3% during the fourth quarter. Covestor Ltd now owns 281 shares of the semiconductor company’s stock worth $37,000 after buying an additional 203 shares during the period.

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.