Analysts Set Silicon Laboratories, Inc. (NASDAQ:SLAB) PT at $172.00

Silicon Laboratories, Inc. (NASDAQ:SLAB) has received an average rating of “Reduce” from the eight analysts that are presently covering the firm, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation and seven have assigned a hold recommendation to the company. The average 1 year target price among analysts 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 Stock Down 0.1%

NASDAQ:SLAB opened at $217.17 on Monday. The business’s 50-day moving average price is $218.25 and its 200 day moving average price is $201.76. Silicon Laboratories has a 52-week low of $115.50 and a 52-week high of $220.90. The firm has a market cap of $7.16 billion, a P/E ratio of -141.94 and a beta of 1.36.

Silicon Laboratories (NASDAQ:SLAB) last released its quarterly earnings data on Tuesday, May 5th. The semiconductor company reported $0.53 earnings per share for the quarter, topping the consensus estimate of $0.49 by $0.04. The business had revenue of $213.50 million during the quarter, compared to analyst estimates 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 revenue was up 20.1% compared to the same quarter last year. During the same period last year, the company posted ($0.08) EPS. Sell-side analysts expect that Silicon Laboratories will post 0.74 EPS for the current year.

Insider Transactions at Silicon Laboratories

In other Silicon Laboratories news, CEO Robert Matthew Johnson sold 8,024 shares of the company’s stock in a transaction dated Monday, May 18th. The shares were sold at an average price of $216.83, for a total transaction 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 approximately $17,458,934.77. This represents a 9.06% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 1.60% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Harbor Investment Advisory LLC purchased a new stake in shares of Silicon Laboratories in the 2nd quarter valued at approximately $28,000. Kestra Advisory Services LLC purchased a new position in Silicon Laboratories during the 4th quarter worth approximately $32,000. Covestor Ltd grew its position in 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 purchasing an additional 203 shares in the last quarter. Kemnay Advisory Services Inc. acquired a new stake in Silicon Laboratories during the 4th quarter valued at $44,000. Finally, EverSource Wealth Advisors LLC raised its stake in Silicon Laboratories by 66.7% during the 1st quarter. EverSource Wealth Advisors LLC now owns 225 shares of the semiconductor company’s stock valued at $47,000 after purchasing an additional 90 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.